Rep. Michelle Lujan Grisham
ALBUQUERQUE ― Thursday, gubernatorial candidate Rep. Michelle Lujan Grisham (D-NM) announced a three point plan to create New Mexico jobs by attracting foreign direct investment, building a stronger export economy, and increasing activity at New Mexico’s ports of entry.
“International trade and investment can be driving forces in strengthening our economy and positioning New Mexico as a leader in job creation,” Lujan Grisham said. “In Congress, I’ve been on the frontlines of ensuring New Mexico doesn’t suffer because of Donald Trump’s reckless attitude towards our border. As governor I’ll work to leverage the relationships I’ve built to bring in international investments that will help strengthen our small businesses and create opportunities for New Mexicans across the state.“
More than 70 percent of the world’s purchasing power is located outside of the United States. As a border state, New Mexico should be a global destination for investments and exports. These exports will boost businesses’ bottom lines, creating a stronger economy for all New Mexicans.
The three points of the Trade and Investment plan include:
First, we will attract FDI (foreign direct investment) to create good jobs here at home. We must make attracting outside money to our state a priority. FDI will help to stimulate economic growth and development while providing financing for development, contact with new technologies, better management techniques, and access to international markets. States across the country are miles ahead of where we need to be. In 2007, South Carolina signed a Memorandum of Understanding with the Chinese government that named the state as a preferred location for Chinese businesses to establish an American presence. Florida attracts international business through its seven state trade offices, and 15 international offices in 13 countries. The state also attends and exhibits at niche events, such as MEDICA and Arab Health. Virginia’s robust marketing campaign, which touts the state’s founding over 400 years ago as the very first example of FDI on the continent, has played a key role in attracting at least 700 internationally owned companies. New Mexico has to claim its seat at the table.
Second, we will develop global markets, increase our international presence, and increase our exports. As with FDI, New Mexico lags behind its neighbors. Oklahoma, Colorado, Arizona, and Utah cumulatively export $46.7 billion in goods and services, with Texas exporting $232.6 billion. New Mexico only exports $3.6 billion in goods and services. By increasing our exports, we can grow our small businesses and improve our economy at home. According to the U.S. Global Leadership Council, in 2013, trade supported 218,100 jobs or 20% of total jobs in New Mexico, and that small-and medium-sized enterprises, those with fewer than 500 employees, made up 83% of total New Mexico exporters. My administration is committed to helping our small and medium-sized businesses grow by expanding their global reach in order to provide more good paying jobs for New Mexicans at home.
Finally, we need to bolster our efforts at the border and our relationship with Mexico. We will capitalize on the significant opportunity represented by historic ties to Mexico and Latin America. We have to stop Texas from being the default location for Mexican companies interested in expanding their businesses. Then we’ll boost the New Mexico Border Authority to be self-sustaining and improve the infrastructure and extend hours for Port of Entry at Santa Teresa. Improving our infrastructure will increase our ability to recruit new businesses in southern New Mexico and increase our labor base.
View the full Leveraging Trade and Investment to Build a Stronger Economy plan here.