New Mexico lawmakers consider site readiness bills to attract business investment
Proposed legislation would fund site development and streamline utility deployment for economic growth
Organ Mountain News report
SANTA FE - Two bills aimed at improving New Mexico’s ability to attract industrial and commercial investment are advancing in the Legislature, with their first hearing scheduled in the Senate Tax Committee on Feb. 18.
The Strategic Economic Development Site Readiness Act (SB 169) and the Utility Pre-Deployment Act (SB 170) are sponsored by Sen. Michael Padilla, D-Albuquerque, along with Reps. Meredith A. Dixon, D-Albuquerque; Joshua N. Hernandez, R-Rio Rancho; Joy Garratt, D-Albuquerque; and Sen. Craig W. Brandt, R-Rio Rancho.
SB 169 would allow the New Mexico Economic Development Department to collaborate with local governments, Tribes and property owners to evaluate potential development sites across the state. A newly formed Strategic Economic Development Site Advisory Committee would assess and certify sites for economic development, making them eligible for funding and technical assistance. The committee would include representatives from government and the private sector with expertise in law, planning, utilities, transportation and economic development.
The bill also proposes a $24 million Site Readiness Fund to provide grants and loans for infrastructure development, including roadways, utilities, site preparation, environmental remediation and housing studies. EDD would be required to report annually on site development progress.
If a site is designated as a strategic economic development location, SB 170 would expedite regulatory review by the Public Regulation Commission, allowing utilities to deploy infrastructure in advance of business development. The bill would also enable rural electric cooperatives to access low-interest loans from the Public Projects Revolving Fund, managed by the New Mexico Finance Authority, to support utility expansion.
“The Strategic Economic Development Site Readiness Act is a critical step in positioning New Mexico for long-term growth by proactively identifying and preparing sites for immediate development,” Padilla said. “By streamlining the infrastructure and planning process, this bill enhances our ability to quickly respond to business needs.”
“As we grow and diversify New Mexico’s economy, it’s critical we are positioned to quickly welcome businesses looking to open or expand in our state,” Dixon said. “SB 169 will identify and help develop construction-ready locations, attracting more businesses and creating jobs.”
The Albuquerque Area Economic Alliance reports that 36 states have site-readiness programs, and 82% of site selection consultants say available, infrastructure-ready locations are a key factor in business expansion decisions, according to the Site Selectors Guild.
EDD Secretary-Designate Rob Black, who previously led the New Mexico Chamber of Commerce, said site readiness is a priority for economic growth.
“New Mexico has a strong workforce and an innovative business climate, but we must act with urgency to compete with surrounding states,” Black said. “A site-readiness strategy allows us to identify, develop, and market strategic sites to businesses looking to invest in our state.”
For more information, view the Advancing Site Readiness in New Mexico flyer (pdf).