New Mexico Economic Development and Revenue Strategy
Strategic Investment in Places and People
The State should continue to prioritize equity and reducing barriers to employment
in its workforce development strategy - such as the cost of education, needs for
childcare, structural racism, and criminal history – to better link workforce development
with economic development and expand the economic power of New Mexico's tax base.
The State already has programs that are focused on certain communities, but they
largely provide project- or employer-specific funding.
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Using a data-driven approach, the State should concentrate its resources in geographic
areas with both high poverty and high unemployment that are experiencing population
decline, as well as in areas in the Permian Basin that are most dependent on the oil and
gas industry for employment.
The State should develop and formalize a stronger framework - including adding
State capacity where needed - to help connect local governments with third-party
grants and technical assistance, encourage greater collaboration with regional
organizations, and align local needs with State economic development priorities.
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