Bill aims to make New Mexico a major hub for trade in the United States
SANTA FE, N.M. (KRQE) – Lawmakers are hoping to put New Mexico on the map as a major trade hub with a bill that would create designated port districts across the state. The Trade Ports Development Act would incentivize local governments to establish centers for making and moving goods through New Mexico. Lawmakers say this bill would help put New Mexico at the forefront of trade. 'You know we've seen some changes at the national level in terms of trade and we want to be ready we want New Mexico to be ready for that,' said Rep. Patricia A. Lundstrom (D-McKinley).
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Lawmakers say it's time to take advantage of New Mexico's infrastructure and location to turn it into a leading state for large-scale trade. Rep. Lundstrom is the lead sponsor of a bill that would help municipalities create trade ports which are distribution and manufacturing centers designed to move large quantities of goods. They are typically located along key transportation corridors, but Lundstrom also wants to prioritize rural, tribal, and economically disadvantaged communities.
'You know we often talk about the need for diversification in New Mexico and this bill allows for that because what it is, it's an economic development best practice of using your existing assets, turning them around for economic development purposes,' said Rep. Lundstrom.
The proposal would create an advisory council under the umbrella of the Economic Development Department that would review and recommend possible locations for trade ports across the state. It would also create a trade port fund using a portion of the state's gross receipts tax, to pay for grants and loans toward trade port developments.
Bernalillo County is already working on a trade hub along I-40. Meanwhile, other potential locations include Doña Ana County and McKinley County. Lawmakers say it would put the state in a position to bring economic opportunities closer to home. 'Location, location, location. We've got that right here in the state. This is a tremendous opportunity to build out that infrastructure to attract those companies and that infrastructure,' said Javier Martinez, Speaker of the House (D).
Under the bill, the program would last ten years with the option to renew it if lawmakers choose. The bill was heard earlier Wednesday in committee but was temporarily tabled with the intent to bring it back as part of a broader tax package.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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