September 19, 2005
Brain gain | Kate Reilly, 26, is Maine's new state economist
By Courtney Hill
Bar Harbor native Kate Reilly got her bachelor's in economics from Loyola University in Maryland and her master's, also in the dismal science, from Fordham University in New York City. After her 2002 graduation, she returned to Maine for a breather and found herself attracted to the idea of staying. "I realized that I care about Maine more than I could ever visualize myself carrying about any other place," says Reilly. "I really wanted to come back here and try in some way to help it grow, and make it an even better place than it is right now."
Along the way, Reilly bettered her fortunes, as well. Last month, she was named state economist, filling the vacancy left when Laurie Lachance resigned last October after 11 years in the job to become president and CEO of the Maine Development Foundation in Augusta. Reilly's career in public policy began with a research position at the Margaret Chase Smith Center at the University of Maine in Orono. She worked on education, land conservation and energy use, leaving the position informed, she says, about state policies and issues. "Maine is at a critical point. We are trying as a state to adjust to a changing economy globally," says Reilly. "I think it is a unique time where we have the opportunity to lay the foundation for our future while trying to take advantage of the assets that we have preserved for ourselves."
Among the economic indicators Reilly tracks as state economist are Maine's tax burden as it compares to other states, and Maine Department of Labor statistics, particularly those relating to the quality of the state's workforce, an item she says is Maine's number-one priority. "While taxes are important, labor costs are a huge portion of business expenses," she says. "There is a lot of pressure on businesses to get as much value as they can for that huge portion of their budget that is going toward employees. I think we will need to make sure that we are able to offer business well-qualified employees."
Reilly cites as an example the federal Base Realignment and Closure Commission's decision to keep Portsmouth Naval Shipyard open, due in large part to its highly qualified and efficient workers. "Workers who do great work can compete on a national level," Reilly says.
During her tenure as state economist, Reilly hopes to help make higher education more accessible to both traditional and nontraditional students, something she says is necessary if Maine is to compete with New England and the rest of the country. "I think as a state we need to make a more conscious choice that workforce development is going to be a part of our economic development strategy and recognize its importance in improving our standard of living," says Reilly. "This means not only encouraging private employers to support the training needs of their employees but also, as a state, supporting the work of the universities, community colleges and even the private institutions in Maine."
At 26, Reilly is the youngest state economist in Maine's history. And while she understands that nothing replaces a couple decades of experience, she also says she's unafraid to ask for colleagues' advice. "If you work hard and do your homework, you can make up for some of that time," she says.
In addition, Reilly believes that her youth gives her the ability to generate fresh ideas, as well as the benefit of a long-term perspective. "Policy-making at times can have a notoriously short time horizon," she says. "I think it's important for us to be discussing not only what we need to be doing for the next five or 10 years, but what do we need to be doing to make sure that our economy is vibrant and healthy for the next 40 and 50 years ˆ during which time I plan to still be in Maine."
Along the way, Reilly bettered her fortunes, as well. Last month, she was named state economist, filling the vacancy left when Laurie Lachance resigned last October after 11 years in the job to become president and CEO of the Maine Development Foundation in Augusta. Reilly's career in public policy began with a research position at the Margaret Chase Smith Center at the University of Maine in Orono. She worked on education, land conservation and energy use, leaving the position informed, she says, about state policies and issues. "Maine is at a critical point. We are trying as a state to adjust to a changing economy globally," says Reilly. "I think it is a unique time where we have the opportunity to lay the foundation for our future while trying to take advantage of the assets that we have preserved for ourselves."
Among the economic indicators Reilly tracks as state economist are Maine's tax burden as it compares to other states, and Maine Department of Labor statistics, particularly those relating to the quality of the state's workforce, an item she says is Maine's number-one priority. "While taxes are important, labor costs are a huge portion of business expenses," she says. "There is a lot of pressure on businesses to get as much value as they can for that huge portion of their budget that is going toward employees. I think we will need to make sure that we are able to offer business well-qualified employees."
Reilly cites as an example the federal Base Realignment and Closure Commission's decision to keep Portsmouth Naval Shipyard open, due in large part to its highly qualified and efficient workers. "Workers who do great work can compete on a national level," Reilly says.
During her tenure as state economist, Reilly hopes to help make higher education more accessible to both traditional and nontraditional students, something she says is necessary if Maine is to compete with New England and the rest of the country. "I think as a state we need to make a more conscious choice that workforce development is going to be a part of our economic development strategy and recognize its importance in improving our standard of living," says Reilly. "This means not only encouraging private employers to support the training needs of their employees but also, as a state, supporting the work of the universities, community colleges and even the private institutions in Maine."
At 26, Reilly is the youngest state economist in Maine's history. And while she understands that nothing replaces a couple decades of experience, she also says she's unafraid to ask for colleagues' advice. "If you work hard and do your homework, you can make up for some of that time," she says.
In addition, Reilly believes that her youth gives her the ability to generate fresh ideas, as well as the benefit of a long-term perspective. "Policy-making at times can have a notoriously short time horizon," she says. "I think it's important for us to be discussing not only what we need to be doing for the next five or 10 years, but what do we need to be doing to make sure that our economy is vibrant and healthy for the next 40 and 50 years ˆ during which time I plan to still be in Maine."
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