The New Mexico Economic Development Department (EDD) is busy strategizing its legislative agenda as the 2025 legislature draws near. The current proposal lays out the priorities and funding needs for the upcoming fiscal year. Rob Black, recently appointed as EDD Secretary-designate, stated that the primary focus would be on expanding upon the department’s recognized achievements. Formerly the president and CEO of the New Mexico Chamber of Commerce, Black offers an important perspective on the state’s economic challenges and opportunities.

The proposed budget for fiscal year 2025, which was submitted in September, includes large allocations for several economic development avenues. The department requested $38 million for the Local Economic Act Development (LEDA) fund, $11 million for the Job Training Incentive Program (JTIP), and $1 million for increased marketing and recruitment efforts with the New Mexico Partnership.

An important area of focus for EDD is regulatory approvals and data transparency. This includes understanding the length of a permit application process on average to identify areas of improvement. Other critical areas that EDD is focusing on include site readiness, utility deployment, and creating an environment conducive for businesses.

Creating a conducive environment for businesses necessitates having essential pieces of infrastructure ready before the arrival of potential investors. The department currently works on legislation to ensure sites are ready and utility services can be efficiently installed. Strategies for doing so include asset mapping and product identification, which reveal the most promising areas for development.

The purpose of EDD, according to Black, is both to improve the quality of life for New Mexico’s families and to create a prosperous environment for businesses to thrive. For more information or inquiries, the EDD can be contacted for more specific details. Its future direction and strategies are set to make a significant impact on New Mexico’s economy and the day-to-day lives of its residents.

Should you have any questions or need to communicate with the department, there are various avenues available. Online resources such as eddcaller.com allow easy access to department contact information, making it simpler to get a hold of a representative from EDD. The site provides essential information, including how to get a hold of EDD, particularly useful for those seeking assistance or needing to discuss their concerns or inquiries directly.