Lt. Governor John Sanchez Addresses About 700 Business and Government Leaders in Albuquerque
Governor Martinez Needed in Roswell to Comfort Community Following Tragic School Shooting
Article as appeared in the Greater Albuquerque Chamber of Commerce Newsletter
The Greater Albuquerque Chamber of Commerce, together with 18 New Mexico Chambers of Commerce, hosted Lieutenant Governor John Sanchez in an address to almost 700 members of the state’s business community last Tuesday. Governor Susana Martinez, originally scheduled to speak, was needed instead in Roswell, NM, to comfort the community following the tragic school shooting which occurred there the morning of the meeting. A packed room of about 700 attended the luncheon last Tuesday…Our biggest showing ever for this annual legislative briefing with the Governor.
The event marked the first time that the Chambers of New Mexico hosted the meeting. The Governor’s initiatives include investments in our state’s education system, health care, and our water infrastructure, all geared to strengthen our potential for future economic development.
Lt. Governor Sanchez, standing in for the Governor, did an excellent job at communicating the Governor’s message. He reminded everyone that the administration and key legislators last year had successfully passed landmark tax reform that dramatically improved New Mexico’s competitiveness with our surrounding states. But, he said, New Mexico still has a tremendous amount to do, including building on last year’s tax package. Sanchez also applauded Governor Martinez for her bipartisan approach to “close the largest structural budget deficit in state history.” He reminded the audience that due to cautious budgeting and spending restraint, New Mexico’s reserve levels stand at just under 10 percent.
Lt. Governor Sanchez also commented on the Governor’s initiative to diversify New Mexico’s economy from the heavy reliance on federal jobs which includes new measures to make New Mexico a leader in innovation- an initiative that aligns closely with the Chamber’s plan of action this year.
Pictured Left to Right: Members of the New Mexico Chamber Executives Association & Co-hosts pictured are: Bill Allen, President & CEO, Greater Las Cruces Chamber of Commerce; Troy Tudor, Vice President, Greater Las Cruces Chamber of Commerce; Jo Mixon, Executive Director, Angel Fire Chamber of Commerce; and Michael McNair, Chair, NM Black Chamber of Commerce.
Lt. Governor Sanchez told the audience that the Governor is proposing to improve the tax treatment of innovation activities by expanding the use of the Angel Investment Credit, allowing for greater private investment in small New Mexico start-ups, and reforming the Technology Jobs Tax Credit. In addition, he added that the current, relatively unused Research and Development Small Business Tax Credit would be modified to better support New Mexico companies that are creating jobs through their research and development activities.
Lt. Governor Sanchez also reviewed the Governor’s proposal to combine the Technology Jobs Tax Credit with the current Research and Development Small Business Tax Credit. This would combine the credits, increase the percent of new investment for which credit can be claimed, enhance the benefits related to the creation of new technology-related jobs and infrastructure investment in New Mexico, and make the credit refundable in order to assist companies engaging in early R&D activities.
In addition, Lt. Governor Sanchez reviewed the administration’s proposal to allocate $2 million to the Technology Research Collaborative in order to fund enterprising projects with commercial potential that are the result of partnerships between researchers at New Mexico’s laboratories and universities, and the private sector. He reviewed the Higher Education Endowment Fund proposal, which
would invest $7.5 million, intended to help attract more top researchers and professors to state institutions in order to train and recruit students who are able to serve as a stronger high-tech
workforce in New Mexico or become innovators and entrepreneurs themselves. Lastly, on the tax front, Lt. Governor Sanchez reviewed funding for the Job Training Incentive Program (JTIP) , an initiative to make permanent those funds in the state’s budget.
Lt. Governor Sanchez concluded his address by saying that he looked forward to having the Chamber’s of New Mexico and the business community in Santa Fe this legislative session. Terri Cole, President and CEO for the Greater Albuquerque Chamber of Commerce and President for the New Mexico Chamber Executives Association, thanked the Lt. Governor for his comments and asked that he let Governor Martinez know how much the business community appreciates her bipartisan approach to solving the state’s problems. She announced that the New Mexico Chamber Executives Association will announce its legislative package, for the first time, soon. She asked the Lt. Governor to let the Governor know that much of the package would align with her initiatives.
The session began Tuesday, January 21st. Stand-by for the Chamber’s updates from the roundhouse throughout the 30 day session.
To get more information on the Governor’s proposals for the FY15 budget, click here.
Greater Albuquerque Chamber of Commerce, Albuquerque Hispano Chamber of Commerce, ABQ West Chamber of Commerce, Angel Fire Chamber of Commerce, Chama Valley Chamber of Commerce, Ft. Sumner/De Baca County Chamber of Commerce, Espanola Valley Chamber of Commerce, Gallup-McKinley County Chamber of Commerce, Greater Belen Chamber of Commerce, Greater Las Cruces Chamber of Commerce, Las Cruces Hispanic Chamber of Commerce, Los Alamos Chamber of Commerce, Raton Chamber of Commerce, Rio Rancho Regional Chamber, Roswell Chamber of Commerce, Ruidoso Valley Chamber of Commerce, Santa Fe Chamber of Commerce, Santa Fe Hispanic Chamber of Commerce, and Silver City Grant County Chamber of Commerce.
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