ALBUQUERQUE — New Mexico's top economic development officials said Wednesday they are ready to put into action a 20-year strategy for diversifying the economy, saying the state has no time to waste if it wants to make up lost ground from the Great Recession and the coronavirus pandemic.

They announced the federal government has awarded the state a $1 million grant for the effort. That follows an initial $1.5 million in federal recovery funding New Mexico used to develop the strategy.

Economic Development Secretary Alicia J. Keyes said the new strategy looks at where New Mexico can build the most momentum. She highlighted several industries, including aerospace; cybersecurity; biosciences; film and television; global trade and green energy.

Part of the work will include improving access to capital and recovery resources for businesses and communities. The plan also calls for assessing the availability of incubator and startup resources and creating an online dashboard to track their impact.

Keyes said the equation will have to include higher wages, more schedule flexibility for workers and more options for attracting employees.

The state Economic Development Department also plans to ask lawmakers during the next legislative session for more funding to market the state, for job training and for local economic development projects.

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(1) comment

Chris Mechels

Meanwhile Keyes, and EDD, are giving away some $200 million with no legal basis, as all there LEDA Recovery Act Rule Making, since 4/26/2021 is illegal. But, not to worry, the Job Training program, JTEP, is also illegal due to illegal rulemaking. Keyes must think this it's all a movie set, and "Rules are for Fools". Maybe she's right, and the Rule of Law is just script line, not a fact. This is larceny folks, and she should be in prison, but this is New Mexico, where felons run the place.

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