U.S. Sen. Martin Heinrich (D-N.M.), who chairs the U.S. Congress Joint Economic Committee, outlined his perspective on an asset-based economic development strategy aimed at fostering New Mexico's middle class and strengthening its economy in an Aug. 23 speech at the Albuquerque Economic Forum, a press release from his office said.
"New Mexico competes best when we compete as ourselves," he said. "Albuquerque is not Austin or Raleigh-Durham. New Mexico is not New York or California. Our people, our history, and our environment are unlike anywhere else. And we should embrace that."
“We cannot have an effective economic development strategy for all New Mexicans that ignores our labor participation rate,” said Heinrich. “Creating pathways for more New Mexicans to participate in the labor market requires tackling some of our biggest and longest-running challenges."
Heinrich said clean energy, defense technologies, and outdoor recreation are thriving economic sectors in New Mexico.
"To deliver for a state as exceptional as New Mexico, we need an equally unique and resilient economy,” Heinrich said. He urged leaders to improve New Mexico’s labor participation rate by tackling persistent challenges, "including education and literacy rates, health care and mental health care access, infrastructure, and public safety."
“New Mexico can outcompete anyone if we invest in what makes us stand out,” he said. That is, "to unlock an economic future that’s right for New Mexico. At its core, that means unlocking the kind of high-quality careers and sustainable industries that New Mexicans can build their families around in their home communities.”
“We might not agree on the exact next steps to deliver a stronger economic future for our state. But our North Star is the same: the future that New Mexico’s kids deserve,” he said. “We all want this rising generation of New Mexicans to have a fair shot at success. And we want them to be excited about building their careers and families in New Mexico. We want to finally move from surviving to thriving as communities and as a state. I am all in on working with each of you to deliver that future.”