Negotiamini Media
Truth is Powerful

Budget surplus provides opportunity to jump start NM economy

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The last decade has been difficult for New Mexico. While our neighboring states have been able to attract new industries paying higher wages, New Mexico has stagnated. But now, New Mexico enjoys a record surplus, thanks to the boom in the energy patch. Add to this, the recently passed $1.2 trillion federal bi-partisan infrastructure bill provides funds for roads, bridges and especially important for us, high-speed Internet.

All this can be a real game changer for New Mexico if our political leaders can take advantage of this once-in-a-generation opportunity. But while we have had an opportunity handed to us by oil and gas, there are obstacles. The Economic Development Department recently commissioned a study from the Center for Innovation Strategy & Policy to develop a strategy to move forward.

While the tax revenue is flowing, there remain considerable hurdles as well. Some the issues identified are familiar: New Mexico is over dependent on oil and gas production for state revenues and needs to diversify to other industries. Other obstacles are less obvious; for example, our state is the home to two national labs and a branch of the Air Force Research Lab. The research prowess of these is legendary. And they […]

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