Economy • Jobs • Infrastructure • Growth
Create Good Jobs that Pay Good Wages
A long-term economic strategy to diversify New Mexico’s economy, strengthen rural and urban communities, attract high-paying industries, and build a more resilient future beyond boom-and-bust cycles.
New Mexico’s economy is too vulnerable to forces outside our control. Heavy reliance on oil and gas, low incomes, and underinvestment in infrastructure have left too many communities — especially rural ones — without opportunity. This plan focuses on diversification, smarter regulation, workforce development, and infrastructure investment so growth is stable, inclusive, and sustainable statewide.
New Mexico faces a number of economic challenges. We are highly reliant on oil and gas, which causes revenue problems when prices for fossil fuels decline. We rank near the bottom in per-capita income and near the top in poverty rates. Many rural counties face population losses, lack of economic opportunity and suffer from lack of high-speed internet, investment in transportation and irrigation. The tax and regulatory climate inhibits growth and development.
We can fix this by:
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Diversifying our sources of energy and tax base with an all-of-the-above approach to electricity generation, including wind, solar, oil and gas and geo-thermal.
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Becoming more business friendly with a top-to-bottom review of the regulatory climate and reducing the paperwork required for employers and manufacturing facilities.
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Stepping up recruitment efforts to attract high-paying industries to areas with the labor force and infrastructure to handle them, including aerospace, electronics, and industries the dovetail with our existing research facilities.
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Making the hard decisions required to expand access to high-speed broadband, fix our poorly maintained roads and bridges.
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Increasing access to workforce development, funding for community colleges and workforce training facilities.
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Making a concerted effort to increase the supply of affordable middle-class housing.
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