New Mexico Economic Development and Revenue Strategy

Potential New Mexico Revenue Gap Over the Next 15 Years of $26 Billion to $36 Billion Total (FY2023- 15-Year General Fund Projected Revenues (millions) FY2037 FY2037) (A) Inferred State Forecast Estimate $15,331 $187,429 (B) Estimate using FY12-FY21 Historical Growth Rate $13,150 $161,250 (B - A) Difference to Inferred State Forecast Estimate ($2,181) ($26,180) (C) PFM Regression Model Estimate $12,277 $151,097 (C - B) Difference to Historical Growth Rate Estimate ($873) ($10,153) (C-A) Difference to Inferred State Forecast Estimate ($3,054) ($36,333) © PFM 16

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