New Mexico’s elected leaders and many citizens often claim to be interested in “diversifying the economy” and attracting good-paying new jobs to our state. When push comes to shove, however, schizophrenia reigns.
Policymakers often outdo themselves throwing subsidies and tax exemptions at businesses while they enact policies or restrictions that make doing business in New Mexico unattractive.
As has been reported in the media, Holtec International has proposed the construction of an “intermediate” storage facility for spent nuclear fuel to be located between Carlsbad and Hobbs. The facility would create as many as 135 jobs, including the construction and operating workforce. Operating jobs would pay between $60,000 and $80,000 annually. The state would experience a total increase in income from direct jobs of about $7.9 million and approximately $820,000 in personal income tax and New Mexico Gross Receipts Tax. This facility represents a major investment in New Mexico’s economy.
This facility received overwhelming bipartisan support from both houses of the Legislature during the 2016 session when both houses passed memorials supporting the proposed Holtec facility.
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