Latest news with #RobBlack
Yahoo
21-05-2025
- Business
- Yahoo
NMexus Center officially opens at Mesa del Sol
ALBUQUERQUE, N.M. (KRQE) – It's a first-of-its-kind global business accelerator center, and it just opened in New Mexico. Mesa del Sol held a ribbon cutting to officially open the NMexus Center. The center is meant to act as a permanent pipeline for foreign investment in the state. 'We think over the next five years that's going to accumulate to about 1,500 jobs for New Mexicans here in the state in a variety of sectors, IT to AI to advanced agriculture among other sectors,' said Rob Black, New Mexico Economic Development Secretary. Albuquerque City Council approves program to give gas cards to APD officers There are currently seven companies housed in the center with room to serve up to 40. Right now, there are companies from India, the Middle East, Europe, and Asia. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
12-05-2025
- Business
- Yahoo
State officials spotlight New Mexico as Economic Development Week begins
May 11—Economic Development Week kicks off this week — an effort put on by the International Economic Development Council to shine a spotlight on work completed by professionals and local programs. Economic development is about more than just building infrastructure, state Economic Development Secretary Rob Black said. "It's about building communities, and we do that by investing in our businesses that help create those opportunities and investing in our families so that they can take advantage of them," Black said in a recent interview. "When a society feels like they have opportunity, when a family feels like it has opportunity, when you feel like your kids are going to have a better opportunity than you had as an adult, that creates hope for the future." Economic Development Week, May 12-16, has been around since 2016. Danielle Casey, president and CEO of the Albuquerque Regional Economic Alliance, or AREA, is the vice chair of the board of directors for the International Economic Development Council, or IEDC. "As a career economic development professional, I have found that our work in raising awareness in our local communities about the importance of investment in economic development is never done," she said in a statement to the Journal. She said serving on IEDC's board since 2017 and participating as a member of the organization for two decades has created "an amazing opportunity to raise the profile of New Mexico economic development among colleagues across the nation and the globe." "Even more importantly, I have benefitted from the ability to access and learn from exceptionally talented economic developers in a wide variety of communities and organizations," she added. Black, confirmed by the Legislature as the EDD secretary during the 60-day session, recently took trips to countries in Asia, including Singapore and Japan, to help get New Mexico on the map as a place to do business. He said he touted benefits the state offers, from free college to its prime research and development capabilities. "You start to tell that narrative, and people's eyes open up," Black said. One of the challenges in attracting companies, however, has been a lack of shovel-ready land for companies to build on, Black said. A couple of new laws signed this year will help address that. Overall, he said, New Mexico has "a lot to be excited about and to celebrate as we think about where we are." AREA will host a special event Thursday at Revel Entertainment to celebrate Economic Development Week, where it will air the new documentary "The Evolution and Future Path of Greater Albuquerque's Economy." You can find more information on the event at IEDC also has toolkits and relevant reports about Economic Development Week available on its website
Yahoo
30-04-2025
- Business
- Yahoo
State certifies ABQ space nonprofit as business incubator
Apr. 29—NewSpace Nexus, a New Mexico nonprofit focused on advancing space innovation, is the state's newest certified business incubator. The company joins eight other certified business incubators, which help grow startups, recognized by the New Mexico Economic Development Department. The recognition of NewSpace comes as startups focused on space have grown in recent years and as some in the aerospace sector have branded the Rio Grande corridor — from southern New Mexico to southern Colorado — "space valley." Aerospace is one of New Mexico's nine target industries. "As a springboard for aerospace businesses, NewSpace Nexus is a prime example of how our state supports this target industry," EDD Secretary Rob Black said in a Monday news release. An incubator helps accelerate the development of startup companies with targeted resources and services, according to EDD. NewSpace's incubator program, called NewSpace Ignitor, offers small- and medium-sized space companies resources like strategic planning, shared facilities and equipment, and investor showcasing opportunities. The company's physical space, The Launchpad at 2420 Alamo SE in Albuquerque, is an 8,000-square-foot facility with more than 70 pieces of equipment, including a carbon 3D printer and a thermal vacuum chamber. NewSpace also received a $100,000 grant with the state certification, which requires an annual renewal. Nearly 30 space companies have gone through the program, and another 22 companies are currently participating, according to NewSpace's website. EDD reports the supported startups have generated more than $50 million through customer contracts and venture capital investment. Every 50 jobs created by a startup generates about 25 more local jobs, according to the International Business Innovation Association. About a third of NewSpace's companies are interested in setting up shop in New Mexico, according to EDD. NewSpace Nexus CEO Casey Anglada DeRaad thanked the state for believing in her company and supporting its "many programs that will make a positive impact in growing the space industry for New Mexico, our region and our nation."
Yahoo
11-03-2025
- Business
- Yahoo
Utility pre-deployment incentive passes Senate
Mar. 10—SANTA FE — Despite some legislators' fears of increased utility bill costs and a lack of transparency, another bill to ensure New Mexico has development-ready land is moving onto the House. Senate Bill 170 passed the Senate by a 31-10 vote Monday, and its companion bill Senate Bill 169 passed the floor 37-2 over the weekend. The site readiness measures are ultimately aiming to draw more economic development — private, tribal or public — to New Mexico. SB170 would allow public utilities to ask the New Mexico Public Regulation Commission for permission to set up power lines, roads and other infrastructure on empty plots of land prime for development — and get money back later for it. Currently, utilities have to write off those costs, explained Economic Development Secretary-designate Rob Black. This bill would allow the PRC to approve rate recovery measures instead, via customer base charges or surcharges. Getting a site set up with all its infrastructure, from public utilities to roads, can take years in New Mexico, something that has dissuaded developers from coming to the state. Senate Minority Whip Michael Padilla, D-Albuquerque, on the floor described his SB170 — a bipartisan bill — as a piece of the puzzle that would change that. A few senators rose with concerns that all utility customers would have to pay for a measure only benefitting some areas. "This is a statewide economic development program, but it really isn't shared statewide. It's shared only by the people within that particular utility's district area," said Sen. William Soules, D-Las Cruces. Black told the Journal the legislation would likely make utility bills cheaper because it would attract large developers that need a lot of energy. In turn, he said, the developers would pay for grid upgrades and attract economic activity. Sen. Antoinette Sedillo Lopez, D-Albuquerque, said she would like to see more guardrails in the bill around what projects are chosen as prime for economic development. "I'm always queasy when we give these big benefits out," she said. But Black said public utilities couldn't ask the PRC for permission to set up infrastructure early and recover costs later unless the Economic Development Department labels it as a prime spot for future economic development projects. Even then, the PRC would still need to approve it. The bill doesn't change the normal regulatory processes utilities go through at the PRC, Black added. "I think there was some confusion about how rates work in the debate," he said. All ten "no" votes on the bill were cast by Democratic senators. .
Yahoo
19-02-2025
- Business
- Yahoo
Legislation addressing site readiness for developers clears first hurdle
Feb. 18—SANTA FE — Business leaders in New Mexico are seeing momentum build for a bill addressing the state's lack of shovel-ready sites. Senate Bill 169, which would create a $24 million fund to find and prepare sites for business development, passed the Senate Tax, Business and Transportation Committee unanimously Tuesday afternoon. The bill, substituted with some technical changes, goes to the Senate Finance Committee next. Private industry leaders have been avid supporters of site-readiness efforts long before the legislation was introduced in the Roundhouse. Economic Development Secretary-designate Rob Black explained to the committee that even though New Mexico has successful business incentives, developers want sites with infrastructure like power or access to water that are already set up. The measure would allow EDD to partner with public and private entities to get a head start on that work. He used Roswell as a hypothetical example, saying if the city wanted 30 acres characterized, the department could provide a free site characterization and technical assistance before evaluating the site. If a site is determined a strategic economic development site, the city could apply for more money to do work like housing studies or broadband deployment — "things that would help that site become much more developable and marketable," Black said. "It's a way for us to really provide technical assistance and then some level of financial support to help do those studies and that pre-development work," he said. Right after the bill explanation, Senate Minority Leader William Sharer, R-Farmington, moved to pass the legislation. It's a bipartisan effort with five sponsors. About a dozen members of the public showed up to support the legislation. Bill co-sponsor Senate Majority Leader Michael Padilla, D-Albuquerque, said he estimates the $24 million allocation request will be adjusted when legislators hammer out the budget.
