We all know the benefits of the Federal dollars that flow into New Mexico, sheltering us from the economic storms going on around us. But, coming out the other side of the Grand Recession, we’re paying the price. The dip was not as low, but recovery is tepid at best.
The Wall Street Journal sums it up:
Bordered by states with rapidly expanding economies, New Mexico remains unable to improve much on an anemic recovery and officials trace it to one root cause: an overreliance on government jobs.
The flip side is that all that Federal R&D has created an environment ripe with innovation, and we know that we need to take advantage of it.
“For the first time I can recall, there is now a widespread recognition in New Mexico that we are lagging behind other states and need to do something,” said Jim Peach, an economics professor at New Mexico State University.
UNM and the City of Albuquerque are creating an opportunity for our entrepreneurs to do something by creating Innovate ABQ, which will anchor the Albuquerque Innovation District.