Legislative Wrapup: See Which Business Initiatives Passed, Failed

Dan Mayfield | Albuquerque Business First -

The 2014 New Mexico legislative session wrapped up at noon Thursday with a new $6.2 billion budget, and an increase in pay for teachers and all public employees.

During the 30-day session, legislators are constitutionally bound to pass a state budget.

“It’s no secret that New Mexico’s economy is lagging behind neighboring states. We saw the problem, and last year we created the Jobs Council. This session we walked the walk and passed legislation that will begin to create jobs for New Mexico families,” said Speaker Ken Martinez, D-Bernalillo.

“I am proud of the Jobs Council’s legislation that passed. Through the Jobs Council we have interjected $23 million for job creation in New Mexico. Specifically $10 million for job recruitment of businesses to New Mexico, $1.5 million for job training incentive program and $7.6 million for statewide tourism.”The Jobs Council is trying to create, or recruit, 160,000 new economic base jobs to the state.

As part of the economic development agenda this year, the Economic Development Department will now have a $10 million “closing fund,” or money for the Local Economic Development Act, and $1.5 million for the Job Training Incentive Program, if the governor signs the budget.

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