New Mexico Economic Priority Sectors
Governor Michelle Lujan Grisham has identified eight sectors where New Mexico can lead the nation. These include:
One of the fastest growing industries in the world, New Mexico has all of the pieces in place to be a hub for cybersecurity: national labs, world class research universities, the FBI center in Albuquerque, existing degree and training programs, and large regions of our state that fall into the extreme “safety zone” in terms of threats to operational disruption. The opportunities to broaden the base of this industry in New Mexico are endless and we can attract companies interested in everything from email security to anti-virus software to cloud security.
2. Intelligent Manufacturing
New Mexico has real potential to harness additive manufacturing (also known as 3D printing) and manufacturing of advanced material and technologies. We have the infrastructure and talent at not only our labs but also with UNM’s Center for High Technology Materials to attract assembly plants for intelligent manufacturing, medical device manufacturing, and supportive services like maintenance and technology improvements.
3. Sustainable and Green Industries
Renewables could be New Mexico’s cash crop – our state has been identified as a future leading provider of renewable energy. With leadership and the right policies in place, we will let industry leaders know that New Mexico is open for business and is ready to grow the production and demand for sustainable and green energy and products in wind and solar industries.
4. Bioscience and Health
New Mexico’s bioscience industry is growing and we need to capitalize on the momentum and opportunities in the industry. New Mexico’s bioscience industry garnered about $1.2 billion in revenue in 2015. There are 700 biotech companies now working in human health, agricultural and environmental issues around the state. These businesses directly employ about 9.300 people, and up to 41,000 if related support jobs are included. Alongside a Center of Excellence at UNM we will be able to grow this industry.
5. Tourism and Outdoor Industries
We need to turbocharge our tourism and outdoor industries. New Mexico boasts some of the country’s most beautiful lands, numerous historic and archaeological destinations, arts and film, and a unique culture. While we’ve seen growth in recent years, more can be done to boost this industry including training new generations of tourism and hospitality leaders not only locally but globally and utilizing technology to incentivize tourists to visit locations that may be off the beaten path or more suited to their preferences. Utah and Colorado have both invested resources into expanding their outdoor industries. Denver recently won the bid for the Outdoor Retailers annual conference, which is the biggest industry event in the country. We need to brand New Mexico as outdoor recreation-friendly, the way Colorado has for so long.
6. Digital Media and Film
Motion picture and television companies spent over $500 million last year in New Mexico – and still there is opportunity for major growth in this sector. My goal is to double the amount of production in New Mexico within my first two years in office.
7. Sustainable Agriculture and Value-added Agriculture
Already important parts of New Mexico’s economy, it is time to get innovative with our agriculture practices, empower small farmers, and invest in new programs to train workers to meet the growing demands of this changing field to boost businesses like greenhouse operations, wineries, cold storage, and algae production technology. The Santa Teresa Border Complex has helped draw millions of dollars of investment in cold storage and value-added agriculture businesses. By focusing our state’s investments and economic development efforts on this sector, we will build on these existing resources and strengthen New Mexico’s agricultural economy by extracting more value right here in New Mexico.
Space start-ups have attracted more than $13.3 billion of investment. New Mexico has an amazing amount of potential in the growing aerospace sectors of commercial space, with the recent announcement that Spaceport America has been approved for commercial traffic and in UAV/UAS testing and development. As home to the nation’s first inland Spaceport and most experienced FAA approved UAS test center and two Air Force Research Labs, including the Space Vehicles Directorate and the Air Force Operational Test and Evaluation Center (AFOTEC) and our federal laboratories and research facilities in the state, New Mexico can make great strides to grow businesses and jobs.