Money

NM media tech firm, founded this year, gets $15M from State Investment Council

The New Mexico State Investment Council during a Tuesday meeting committed $280 million in investments in three different firms. Read moreNM media tech firm, founded this year, gets $15M from State Investment Council

As the industry changes, legacy cannabis operators in New Mexico shut down and downsize

Minerva Canna and Sacred Garden, two legacy cannabis operators, are closing their doors. Read moreAs the industry changes, legacy cannabis operators in New Mexico shut down and downsize

Economic Development Department: NM needs to invest in infrastructure

Diversifying the state’s economy will take decades. Read moreEconomic Development Department: NM needs to invest in infrastructure

Cannabis sales total $1.3B in New Mexico

In 2021, New Mexico became the 18th state in the nation to legalize recreational cannabis. Read moreCannabis sales total $1.3B in New Mexico

Expanding Santa Teresa's port of entry

Santa Teresa is consistently one of the largest port of entries in the U.S-Mexico border in terms of volume of trade. Read moreExpanding Santa Teresa's port of entry

‘As Albuquerque, you deserve that’: Tucson business leader shares how the city revitalized its Downtown

Edmund Marquez, a Tucson business magnate, spoke at the Economic Forum of Albuquerque on Wednesday about the city’s Downtown revitalization. Read more‘As Albuquerque, you deserve that’: Tucson business leader shares how the city revitalized its Downtown

NM economist: Fed likely to cut key interest rate as inflation eases

Things have been pretty expensive over the last couple of years and the Federal Reserve has raised its key interest rate to help battle inflation over that period… Read moreNM economist: Fed likely to cut key interest rate as inflation eases

State Investment Council earmarks $50M for new Roadrunner Venture Studios fund

Roadrunner will use the money to invest in companies in their early stages.

Sandia Laboratory Federal Credit Union to acquire Mountain America Credit Union’s ABQ operations

The purchase will add two additional Albuquerque branches for the local credit union.

Two years later, IRA investments in New Mexico come to life

Two years after the federal government passed the Inflation Reduction Act, New Mexico is reaping from its benefits.

State builds on manufacturing base

In New Mexico, the National Association of Manufacturers said manufacturers accounted for $4.26 billion in total output and employed 30,000 workers at the end of 2021.

Breaking down New Mexico’s taxes on corporations

Businesses pay a slew of taxes, and it’s not always the most straightforward process. So how does it all work?

Tax credits continue for angel investors’ good tidings

Investors have more time to receive tax credits for money they put into startup business ventures.

Maxeon spokesperson says company is planning for Q4 construction start of massive Mesa del Sol facility

The governor’s office and company officials said last August they hoped to break ground on the Maxeon expansion in the first quarter of 2024.

U.S. Eagle to purchase Southwest Capital Bank

The acquisition is expected to be completed in the second quarter of 2025.

For a second time this year, UNM Hospital raises workers’ pay

But a union representing clinical staff at UNM Sandoval Regional Medical Center is still negotiating a contract with hospital officials.

City officials propose new tax financing, business improvement districts in Downtown Albuquerque

Metropolitan Redevelopment Agency Terry Brunner said tax increment financing is commonly used to improve downtowns in other cities, including Colorado Springs, Tucson and Denver.

TXNM, formerly PNM Resources, stocks up 11% over past month

Stocks and earnings for the parent company of New Mexico’s largest electricity provider are looking up.

Executive's Desk: Tale of two inflations

Kyle Beasley and Steve Wyett write about the inflation consumers feel — and see.

For a second time this year, UNM Hospital raises workers’ pay

But a union representing clinical staff at UNM Sandoval Regional Medical Center is still negotiating a contract with hospital officials.

City officials propose new tax financing, business improvement districts in Downtown Albuquerque

Metropolitan Redevelopment Agency Terry Brunner said tax increment financing is commonly used to improve downtowns in other cities, including Colorado Springs, Tucson and Denver.

TXNM, formerly PNM Resources, stocks up 11% over past month

Stocks and earnings for the parent company of New Mexico’s largest electricity provider are looking up.

Executive's Desk: Tale of two inflations

Kyle Beasley and Steve Wyett write about the inflation consumers feel — and see.

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Large and small stores alike prep for tax-free weekend in New Mexico

Tax-free weekend runs from Friday, Aug. 2, through Sunday, Aug. 4.

How the presidential election affects NM’s economic base

While Washington, D.C. may be more than 1,500 miles away, budding political tensions as the presidential election in November looms closer and closer are revealing how New Mexico’s economic base could be impacted.

PART 5: ‘Uncertain territory:’ Economists look ahead to NM’s future

Editor’s note: In this five-part series, Business Outlook took an in-depth look at New Mexico’s economy, its major drivers and obstacles. In Part 1, we focused on oil and gas, the national laboratories and the history of the state’s economy. …

Iowa-based bank opens an Albuquerque branch, appointing a local to lead operations

Before Capra Bank Chairman and CEO Tut Fuller purchased a bank, he knew he wanted to do business here in the state.

PNM seeks to lower subsidies businesses pay

The Public Service Company of New Mexico wants its larger customers to pay lower subsidy bills.

State Investment Council commits $250M in June meeting

The New Mexico State Investment Council invested $250 million in two firms in its most recent meeting.

New fiscal year with $10.2B budget starts

Monday, July 1 is the start of a fresh fiscal year, meaning the state’s new $10.21 billion budget is now in effect.

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EDD prioritizes science and tech industries for economic development

How does New Mexico retain its college graduates?

Oil and gas delivered $15.2B for NM in FY23

It’s no surprise that the oil and gas industry is providing billions of dollars for the state of New Mexico and will likely keep doing so in coming years.

NM commits $550M to firms investing in transportation, energy

The New Mexico State Investment Council last month approved over $550 million in financial commitments to both American and European-based funds.

Energy advocates call Supreme Court ruling a win for utility customers

A recent New Mexico Supreme Court decision is a win for New Mexicans paying for electricity in the eyes of an energy activist organization. Another clean energy advocate called it a win-win for both utilities and customers, which can be a rar…

CTECH wraps up second year, sends students into workforce

HOBBS — Suiza Ramos’ hands were steady as she carefully filled pastries with cream, dozens of other delicacies were waiting on her pan to go to the next station for more cream and chocolate sprinkles.

State accepting challenges fix broadband mapping errors

New Mexico has been allocated nearly $700 million to connect unconnected or poorly connected areas in the state to broadband, but to make sure the right households are reaping the benefits of that money, the state needs help to fix mapping errors.

Environment Department announces record oil and gas violation settlement

The New Mexico Environment Department on Monday announced it has reached a $24.5 million settlement with Ameredev II LLC, a Texas-based oil and gas company, over alleged air quality violations.

A tough choice for NM parents: Choosing to stay at home or work

It was a tough choice for Natassia Paloma to decide to be a stay-at-home mother. Now she’s working full time every day watching her children while not getting a paycheck doing it.

State Investment Council approves $550M commitments

The New Mexico State Investment Council approved three real estate commitments totaling $550 million this month.

Federal internet discount program to run out of funding

It appears hundreds of thousands of New Mexico households will soon lose out on federal internet discounts, potentially losing the ability to pay for internet altogether.

‘A big deal:’ NM gets $156M to boost solar energy accessibility

As clean energy advocates celebrated Earth Day on a warm spring Monday, they also applauded a new federal award the state got to make solar power more accessible.