This week the Massachusetts Senate is debating legislation that will create jobs and promote economic stability. We will invest $115 million to spur growth and strengthen Massachusetts’ position in an increasingly competitive global economy.
The Senate’s economic stimulus bill embraces five guiding principles. All five are essential if we are to truly create jobs and provide economic stability for Massachusetts.
The first, and overriding principle of the Senate’s plan is that establishing a stable business environment is the most important role state government can play in economic development. That is why the Senate will make the investment tax credit permanent, will clarify laws governing stem cell research and will eliminate obstacles to zoning and permitting for new and expanding businesses.
The second guiding principle is the need for expanded public-private partnerships. The Senate uses state funds to leverage private investment for a first-in-the-nation employer assisted housing program. Such a program will allow employers to provide housing assistance as a way to attract and retain workers.
Making better use of our competitive advantages is the third principle the Senate embraced. Massachusetts has a highly educated and trained workforce, is a worldwide leader in health care and is a destination for tourists from around the world. The Senate builds upon our advantages in all of these areas. We grow our biotech industry through low interest loans. We improve health care by helping hospitals and doctors purchase technologically advanced equipment. And we use a new public-private partnership to draw more international visitors to our state.
The fourth principle guiding the Senate is the need for reform. The Senate builds on reforms in state government passed earlier this year by making important changes to the Workforce Training Fund so that it better meets the needs of both workers and businesses.
The final principle captured in the Senate’s economic package is consensus. Senate President Robert Travaglini has empowered the Senate membership to an extent unseen at the State House for many years. In doing so, the expertise and talents of individual senators were used in drafting the Senate’s bill. Senate leadership, moreover, made a concerted effort to seek input from outside the Senate. Business and labor groups, housing advocates and environmental watchdogs all provided input into the legislation.
As the Senate Majority Leader, I am pleased that we have used these principles to put forth a smart, balanced bill to stimulate job growth and stabilize the economy.
As the Senator for the Second Essex District, I am even more pleased about the benefits this bill will bring to the workers, businesses and institutions I represent. If enacted, the Senate legislation can help spur economic growth in our region for years to come.
The health care industry, a major employer in my district, will benefit from low interest loans to purchase new, technologically advanced equipment. Patients in my district will receive better care once this equipment is in place.
The three thousand employees in my district of medical device manufacturers will benefit from provisions to spur research and development of new cutting-edge products in that industry.
Housing and commercial development will receive a boost from tax credit provisions for the redevelopment of historic buildings and brownfield sites. This is especially important in a district like mine that is home to so much history and so many former industrial sites.
Educational institutions like Salem State College and North Shore Community College will get additional aid to increase the number of math and science teachers in our schools and increase the number of graduates seeking employment in science, technology and engineering.
These provisions will create jobs in different ways that will benefit Danvers and the other communities I represent. Our communities are better places to live when people have good jobs that allow them to provide for themselves and their families.
We all have an interest in a strong and vibrant economy for this reason. With this legislation, the Massachusetts Senate is making clear to businesses and workers alike that we value what they contribute to the fabric of our society. We are stating unequivocally that we can, and must, succeed by working together. Too much is at stake to do otherwise.
Frederick E. Berry is the Majority Leader of the Massachusetts Senate. He represents the Second Essex District including Danvers in the Senate.