Recent talk about the possible issues of the 2012 session has the potential to divert attention from what should be the core focus of our efforts this legislative session: growing the economy. 

In particular, I look forward to supporting three particular initiatives that will improve business operations in the state: regulatory reform, a Maryland innovation initiative, and legislation to facilitate the implementation of public-private partnerships (P3). 

Governor Martin O’Malley signed an Executive Order on Oct. 17 and I am anxious to review the regulatory reforms that will be proposed in response. Along with other pro-business Democrats, I played a role in convincing the governor to streamline regulations where possible and eliminate unnecessary burdens where practical. 

The Executive Order required all state agencies to deliver a report to the chief of staff on ways to streamline regulatory processes. Agencies conducted comprehensive internal reviews; solicited input from Maryland’s business community; reviewed public comments received via the Maryland Made Easy web site; and submitted recommendations for more than 150 current State regulations to be repealed or streamlined.

The administration is in the review process of submissions and intends to submit them as orders subject to the review of the General Assembly in the coming weeks. 

Another exciting initiative is the Maryland Innovation Initiative, a groundbreaking joint venture between Maryland and its leading academic research institutions to accelerate commercialization of technology. This partnership promises to get dozens of technologies out of the laboratories and into the marketplace creating new jobs and opportunities in the state.

An interdisciplinary, cross-institutional team will work to award start-up grants to the innovators best positioned to push their technology and business plans into the marketplace.

Finally, I will be supporting legislation that will promote public-private partnership growth in the state. Infrastructure of all types is critical to our state’s economy, productivity, environment and quality of life. Creating a robust infrastructure plan will strengthen Maryland and help create jobs.

Public-private partnerships are one of many initiatives that can help address infrastructure needs. Initial estimates by Maryland departments overseeing capital projects have found that new P3s have the capacity to contribute between six and 10 percent of Maryland’s $3.1 billion annual capital budget while creating as many as 4,000 jobs.

While not the only solution, expanding the use of P3s can help jumpstart projects that otherwise might not be built, increase private investment in new public infrastructure, and put our construction industry back to work.  

The legislation will create a transparent and accountable process for future public-private partnership infrastructure projects. Specifically, the legislation will improve the state’s definition of a P3, strengthen and shorten the legislative review process by requiring more detailed reporting up-front, and a faster approval process once partners are selected. 

We have already seen the tremendous impact of P3s close to home, with the new deep-water berth currently being constructed at a Port of Baltimore facility in conjunction with Ports America which is creating thousands of jobs in the process. 

I will continue to look for and support these types of opportunities that increase employment opportunities for local residents as well as all Marylanders.