New Mexico Economic Development and Revenue Strategy
Build on Current Efforts at Diversification by Investing in People and Place
◆ The State's plan for economic diversification is centered on sector-specific strategies with
a focus on retaining and attracting high wage earners. New Mexico's tax expenditure
programs are also largely industry specific.
In addition to sector specific strategies, New Mexico also needs to focus more on
economic development initiatives centered on certain areas and communities - both to
ensure multi-sector growth and to reduce economic inequity.
◆ The State has made strides in this area - including growing investment in childcare and
access to higher education as well as expanding tax credits for low-income families - but
more needs to be done to drive economic expansion and poverty reduction.
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