House Passes Bills to Create Jobs and Boost Economy
Proposals would invest in technology development and create statewide trade hubs
Santa Fe, N.M. – Today, the House of Representatives passed two key bills to draw on New Mexico’s unique strengths to drive economic growth and create jobs with broad bipartisan support.
House Bill 20, which passed by a vote of a 54-3, would promote technology and innovation in New Mexico by providing early-stage capital and financial support to startup companies, research initiatives, and emerging technologies.
HB 20 creates a new Technology and Innovation Division within the state’s Economic Development Department to help grow industries like cybersecurity, aerospace, bioscience, clean energy and water, quantum computing, advanced computing, and artificial intelligence. This division would provide funding for promising projects and innovative breakthroughs, enhance collaboration between public and private stakeholders, and maximize federal funding opportunities.
“New Mexico is uniquely positioned to lead the nation in technological innovation and spearhead the industries of the future,” said lead sponsor Rep. Meredith Dixon (D-Albuquerque). “This legislation utilizes our state’s existing assets to make targeted investments in emerging industries, so we can attract investors, create good-paying jobs for New Mexicans, and foster long-term growth and stability in our workforce and economy.”
HB 20 is also sponsored by Reps. Nathan Small (D-Las Cruces), Joy Garratt (D-Albuquerque), Cristina Parajón (D-Albuquerque), and Doreen Gallegos (D-Las Cruces).
House Bill 19, which passed by a vote of 56-4 would create “trade port districts” across New Mexico to facilitate interstate and international trade, while improving local infrastructure, creating good-paying jobs, and strengthening the economy.
Trade port districts would be established in strategic locations with access to transportation infrastructure, such as airports, railyards, and interstate highways, to facilitate the movement, storage, and distribution of goods and commodities. HB 19 would also ensure that rural, tribal, and economically-disadvantaged communities across the state are prioritized as potential locations to establish these districts.
“New Mexico is missing out on incredible business opportunities that are currently passing right through our state,” said lead sponsor Rep. Patricia Lundstrom (D-Gallup). “By establishing trade ports, we can make New Mexico a key player in national and international trade markets, while also boosting our economy and bringing jobs to communities across the state.”
Infrastructure and maintenance for the trade hubs would be facilitated through Public-Private Partnerships, creating construction, trade, and telecommunications jobs for New Mexicans, while enhancing the impact of public dollars and maintaining government control.
HB 19 has 11 sponsors, including Rep. Lundstrom, House Majority Whip Day Hochman-Vigil (D-Albuquerque), House Majority Caucus Chair Ray Lara (D-Chamberino) and Reps. Tara Lujan (D-Santa Fe) and Joy Garratt (D-Albuquerque).
Both of these bills now move to the Senate.
Members of the public are welcome to attend floor sessions and committee meetings at the New Mexico Roundhouse, and can tune in virtually through the New Mexico Legislature’s Webcasts tab. Public comment can also be provided in-person, and via phone or Zoom as directed on the daily schedule.
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