‘Let’s double down’: EDD secretary lays out 2025 economic priorities for New Mexico

The state is focused on three key initiatives in its latest economic plan: enhancing data management, ensuring site readiness and prioritizing development.

Economic Development Department Secretary Rob Black at an Economic Forum of Albuquerque meeting Wednesday morning highlighted the work his department is doing to make New Mexico a more competitive place to do business.

EDD’s recently released 20-page state plan for 2025 is a slimmed-down version compared to the first version released in 2021, which spanned more than 400 pages.

“In part, what we’re trying to do is really get down to what are actionable activities that we can focus on to move the needle for New Mexicans,” Black told a group of the state’s most influential business leaders.

He touted legislative outcomes that align with the new state plan, particularly two bills aimed at increasing the number of shovel-ready sites in New Mexico that the governor signed into law this week. He also mentioned a bill aiming to modernize an old power grid and legislation seeking to establish trade port districts.

“By investing in New Mexico’s economic future through strategic economic development initiatives, we can create a kind of sustained and inclusive growth that fosters greater opportunity and reduces social tensions and builds more resilient communities throughout the state,” Black said.

Responding to a question about how tariffs affect New Mexico businesses, the secretary said the state is still trying to understand the consequences of what’s happening at the federal level. However, Black added that the state needs to effectively invest in its infrastructure at Santa Teresa and the border.

“We need to quickly deploy infrastructure dollars to expand that port, to capture that commercial traffic in New Mexico,” he said.

As for what business and economic development community members should come together to prioritize in next year’s Legislature, Black said initiatives like the Job Training Incentive Program and the Local Economic Development Act need to be better funded. He said of the $200 million in new money EDD got from the Legislature, zero went toward those programs.

“Let’s get more focused on the things that are working. Let’s double down,” Black said. “Let’s ensure that we are investing in those things that we know make us more competitive and that create those pathways to prosperity.”