Report Praises New Mexico’s Policies and Incentives for Attracting Jobs, Venture Capital, Public Investment, and Green Technology Patents.
Governor Bill Richardson announced today that a new report released by Headwaters Economics shows that New Mexico has emerged as a clean energy leader, increasing its percentage of green jobs faster than other Rocky Mountain States.
“New Mexico is proud to be a national leader in clean and renewable energy development,” said Governor Richardson. “These efforts reward New Mexicans by expanding and diversifying our energy resources, which is good for the environment, and help create green jobs during this challenging economic time.”
Some of the Richardson Administration’s clean energy accomplishments include:
- The state’s first renewable energy portfolio standard, which requires utilities to produce 15 percent of their energy through renewable resources by 2015 and 20 percent by 2020.
- The recreation of the Renewable Energy Transmission Authority, to plan and finance transmission lines to promote the development of renewable energy within New Mexico. It is one of only eight transmission authorities in the country.
- And numerous renewable energy tax credits for wind, solar and biomass.
New Mexico’s combined strategy of targeted public policy and strong support for business has made it a regionally and nationally competitive center of clean technology innovation, especially solar power, which is capturing energy-related jobs and attracting investment.
“Thanks to Governor Richardson’s visionary leadership in championing New Mexico as the ‘Solar Valley of North America,’ we have had tremendous success in recruiting green energy companies, creating green energy jobs and addressing issues of energy independence,” stated Economic Development Department Cabinet Secretary Fred Mondragón. “We are honored that Headwaters has noted our accomplishments in these areas.”
“I’m pleased that the report recognizes New Mexico’s leadership and success in building a green energy economy,” said Jon Goldstein, Cabinet Secretary for New Mexico Energy, Minerals and Natural Resources Department. “Because of the work we have already done and continue to do, the state stands to be among the first to be able to take advantage of and benefit from emerging green technologies and businesses.”
The Headwaters Economics Clean Energy report compares how New Mexico, Colorado, Montana, Utah, and Wyoming—five states with vast traditional and clean energy resources—are taking advantage of clean energy opportunities and concludes with five keys to success for the states to further benefit from the emerging green economy while measuring the likelihood that each state’s policies will promote future growth and investment.
“New Mexico’s success shows the importance of both policy and political leadership at all levels of government, from county commissioner to United States Senator,” said Julia Haggerty, Ph.D., the report’s author. “The state’s aggressive outreach program, backed by strong incentives—including property tax breaks, bonding, and worker training—has attracted new businesses and jobs to the state.”
The Headwaters Economic report found that the number of jobs overall in New Mexico increased 13 percent from 1995 to 2007, and the number of green jobs for the same time period had a 62 percent increase.
The Clean Energy report also measured private and public investment funding that, in New Mexico, totaled $239 million between 1999 and 2008, and the state ranked twelfth nationally from 2006 through 2008, the latest three years available.
Renewable energy production is one of the reasons stated in the report for rapid expansion.
New Mexico showed strength in wind, solar and geothermal potential. From 1990 to 2007, New Mexico’s renewable energy production grew by more than 200 percent, the highest rate of the five states.
The full study, digest, state fact sheets, and state-by-state comparisons can be found at www.headwaterseconomics.org/greeneconomy [1].
For more information about clean energy in New Mexico visit www.CleanEnergyNM.org [2].
To view the report section on New Mexico visit http://www.headwaterseconomics.org/greeneconomy/#newmexico [3].