New Mexico’s economy should reflect our shared fundamental values of respect for all people, our air, land, and water. Here are some available resources on sustainable economic development:
In October 2021, the state released Empower and Collaborate - New Mexico's Economic Path Forward, a 20-year strategic comprehensive approach to economic development which looks at short-term recovery, long-term planning, and economic diversification.
New Mexico needs revenue we can rely on that is both adequate and equitable. Explore the October 2021 report from New Mexico Voices for Children about how diversifying our state revenue is critical for equitably funding our future.
Currently, revenues from the volatile oil and gas industry make up about a third of our state’s budget. In order to open new doors and provide ample opportunities for our communities to thrive, we need to diversify our revenue streams away from fossil fuels by raising fair and equitable revenue to invest in our communities.
Gov. Michelle Lujan Grisham identified outdoor industry growth as an important element in diversifying the state economy. To that end, Gov. Lujan Grisham signed a law in April 2019 that made New Mexico the 15th state to create an Outdoor Recreation Division.
The Sustainable Economy Task Force is our state’s opportunity to be a leader in innovation and in developing an economic model that will create high-quality jobs, makes full use of New Mexico’s abundant renewable potential, and protects our precious, limited water resources for the present and future generations.
The New Mexico Clean Energy Workforce Development Study used a combination of survey, interview, and focus group methodologies to identify concerns, best practices, and areas of opportunity in the clean energy industry.
Making homes more energy-efficient and lowering utility bills for low-income New Mexicans can open new doors by bringing more equity to our utility system, supporting those that are already impacted by climate change, and implementing local job-creating initiatives that reduce harmful climate pollution.
Equity-Focused Climate Strategies for New Mexico: This analysis assesses opportunities and strategies to integrate pollution reduction, resilience to climate impacts, and energy and environmental equity into the state’s decarbonization plans.
A focusing spending on programs and infrastructure in advanced energy technologies can generate economic activity and create good jobs for New Mexicans, while also helping New Mexico achieve its energy and climate goals. Read more in Advanced Energy Economy’s report.
Just one 5 MW solar operation could support almost 38 jobs, produce a labor income of $1.46 million, and inject $5.2 million into the state economy through increased industrial production, according to the UNM Bureau of Business and Economic Research.
Economic impact of oil field remediation. Ensuring proper and timely industry clean-up of the over 28,000 oil, gas, and disposal wells and associated infrastructure on state trust and private lands in New Mexico can help to stabilize both jobs and revenue during the transition and mitigate clean-up liabilities.