Press Room & Media

AFLEP in New Mexico

How is Public Banking like Acequia Culture?

How is Public Banking like Acequia Culture?

 
At the Alliance, we are always expanding our understanding of both the challenges and wisdom inherent in the land and rich cultures of New Mexico. One powerful example of a democratic practice that benefits all New Mexicans is our acequia system. The acequia culture that is present in New Mexico today roots back into ancient traditions and is considered by many to be the oldest democratic practice in North America. For hundreds of years, New Mexicans have worked together to allocate, distribute, and manage the flow of water across our state. There are currently more than 800 ditches in operation and every one of them depends on cooperation for the good of all. The NM Acequia Association’s mission includes the protection of water, growing healthy food for families and communities, and honoring the cultural heritage of those communities. Acequias are living proof that communal ownership and democratic access to precious resources are both sustainable and resilient.

Can we do this with the precious resource of money?

The Alliance knows that we New Mexicans, with our long history of acequia cultures, CAN build a state public bank that emulates the strength and clarity of this ancient life-sustaining democratic practice.

Centering relationships and responsibilities, built on cooperation, and focused on the well-being of all, a NM state public bank will invest New Mexico revenues in New Mexicans, strengthening our communities from the inside out. As with the acequias, regional needs and aspirations are identified by locals and incorporated into planning the flow of resources. For the bank, this means lending programs are recommended to the state bank board, made up of both financial lending and community development expertise. Their goal would be to make investments in New Mexicans that are not currently being made. Without those investments, we experience withering rural communities, sales of land to corporate landowners, loss of cultural traditions, and limitations on the capacity to adapt agriculture practices in response to climate disruption.

Like the life-giving flow of water through the acequias, The Flow of Money through a NM Public Bank bank could look like this:

This flow nourishes stronger, healthier communities that are supported in their shared values and customs in which people can choose to remain, work and flourish in their communities.

 
YOU can help make this FLOW a reality! Your support of the Alliance will keep the pressure on to ensure that public bank funding is included in October’s draft budget through:

  • Advocacy with legislators and scheduling of interim committee hearings.
  • Enhanced detailing of legislation with executive branch departments.
  • Increased outreach through allied organizations and community groups.

Our impact will keep New Mexico money flowing throughout our communities in support of shared community values, traditions, and visions that increase prosperity for all!

 

A New Mexico public bank is no gamble

A New Mexico public bank is no gamble

MY VIEW – ANGELA MERKERT

Santa Fe New Mexican | January 5, 2024
 

A recent Ringside Seat column by Milan Simonich (“Another $3.4 billion makes legislators dangerous,” Jan. 2) raised questions regarding legislator support for creating a state public bank in the upcoming session. There will in fact be legislation introduced, with revisions from past proposals. It is a viable answer to the lack of equitable access to capital, especially for small business start ups and expansions, as well as agricultural and food system needs.

Yes, the Bank of North Dakota, a huge success for the state, is often cited for good reason. In 2022 this bank generated a 19% return on investment on a loan portfolio of $5.4 billion and investments. The bank holds a credit rating of A+/Stable. It’s all done with a focus on investing in North Dakota business, agriculture and people. That kind of outcome can be developed in New Mexico.

The public bank failures noted are not so recent. Several occurred in the 1800s and early 1900s. The weak link in their failures was typically the governance structure — too much cronyism and weak business practices. The proposed Public Bank of New Mexico legislation addresses those issues as has the Bank of North Dakota, which is why it is so healthy.

In the history of the United States there have been four successful federal public banks, all closed due to sunset clauses in legislation demanded by Wall Street banks. Each bank was successful in achieving its purposes.

That track record is why legislation is being proposed in Congress for a national infrastructure bank, a federal public bank.

It is not “gambling public money” to create an additional tool in the state’s finance system to enhance the ability to invest in New Mexicans.

Initially the state public bank would focus on developing partner loans with community banks and credit unions to create more equitable access to capital for small-business entrepreneurs and to enhance lending for agriculture-related needs. More support then would be available to invest in climate-impacted adaptive practices by farmers and ranchers, along with food processing and distribution expansion. Why are we exporting 95% of our food production and importing 94% of what we consume?

Finally, loans made by the bank would be repaid with interest. The anti-donation clause would not apply because no gifts are being made. The state owns the bank and it is managed independently, similar to how the New Mexico Finance Authority is operated. That charge is a boogeyman.

What is so scary about placing at least a portion of the state’s revenue in a state public bank rather than in a Wall Street bank? At a state public bank, lending could be focused on local needs rather than exploiting regulations to enhance executive compensation and stock prices. Let’s invest in New Mexico.

Alliance for Local Economic Prosperity has indeed been advocating for a state public bank for four years. Operating by more democratic processes than the big banks and focusing on innovative ideas that community banks and credit unions cannot, or will not, engage on their own, will expand community wealth. These are not high-risk loans; rather, they don’t fit into those dark boxes that hold the computer-driven formulas driving decision-making. The public bank is in partnership to create those loans and small businesses expand and thrive. New Mexico revenue will remain safe, local and working for New Mexicans.

Angela Merkert lives in Albuquerque and has lived and worked in New Mexico for 18 years. She serves as executive director of Alliance for Local Economic Prosperity.

Shop Small, Save Money During New Mexico’s Small Business Saturday Gross Receipts Tax Holiday

Shop Small, Save Money During New Mexico’s Small Business Saturday Gross Receipts Tax Holiday

Small Business Saturday is November 25, 2023

Santa Fe, N.M. – The New Mexico Departments of Economic Development, Tourism, and Taxation and Revenue encourage New Mexicans and visitors to shop at small businesses first during the holiday season. While shoppers may not find everything on their list in local, small businesses, stopping there first gives business owners, entrepreneurs, artists, growers, and makers an opportunity to grow their business and support the local economy.

To support and encourage shop local efforts throughout New Mexico during the holiday season, the New Mexico Tourism Department (NMTD) recently published its annual New Mexico True Certified holiday gift guide. This year’s gift guide features 130 locally grown and produced products from jewelry, fine art, apparel, home décor, snacks and more.

NMTD also launched its first-ever New Mexico True Certified shop local campaign for the holiday season. The campaign highlights the craft, care and artistry of New Mexico True certified goods.

Additionally, November 25, 2023 is New Mexico’s Small Business Saturday tax holiday where the state suspends collection of gross receipts tax on sales of qualifying items at certain, non-franchise small businesses with 10 employees or less. The annual tax holiday begins at 12:01 a.m. and ends at midnight the same day. A wide variety of merchandise qualifies for tax-free status such as toys, games, electronics, books, sporting goods, and more­­—as long as the price is under $500 per item. Gift cards do not qualify. A complete list of qualifying items can be found on the Tax & Revenue Department’s website.

“Small business Saturday is a great opportunity for all of us to save a little money and support home-grown New Mexico businesses to grow our local economy,” said Taxation and Revenue Secretary Stephanie Schardin Clarke.

“More than fifty percent of New Mexico employees work for small businesses. Shopping at small businesses during the holiday season supports your neighbors, our state’s economy, and local communities,” said Acting Economic Development Department Secretary Jon Clark.

“We really wanted to put a concerted effort into reminding folks this holiday shopping season that they can find high quality and authentic gifts made right here in New Mexico,” said Acting Tourism Secretary Lancing Adams. “When New Mexicans make the decision to shop local, they are uplifting the merchants, artists and creatives that power our small business ecosystem.”

“Throughout the year, but especially during the holiday shopping season, it’s important to keep dollars in the local economy because that money recirculates and strengthens our communities. Additionally, many of New Mexico MainStreet’s affiliated communities host family-friendly events that bring people together to eat, shop, and play in their welcoming and vibrant commercial districts,” said New Mexico Main Street Director Daniel J. Gutierrez.

Shopping locally is important because small businesses create jobs in the community, and they’re also more likely to give to community charities. Money spent locally recirculates and strengthens the local tax base which supports community services. Finally, a vibrant local economy improves the quality of life for the whole community.


 

The New Mexico Economic Development Department’s (EDD) mission is to improve the lives of New Mexico families by increasing economic opportunities and providing a place for businesses to thrive. EDD’s programs contribute directly to this mission by training our workforce, providing infrastructure that supports business growth, and helping every community create a thriving economy.

Learn more at edd.newmexico.gov.

The New Mexico Tourism Department (NMTD) is the statewide agency tasked with promoting New Mexico for leisure travel and driving visitation to the state. The Tourism Department plans, produces, and monitors national marketing and advertising campaigns through the award-winning New Mexico True brand. The Tourism Department also manages grant programs and other services that strive to empower communities with the resources and technical expertise to develop and promote tourism for their own community.

The Tourism Department also manages New Mexico Magazine, a monthly publication dedicated to covering New Mexico’s multicultural heritage, arts, environment, creatives and diverse people. In addition, the Tourism Department operates four visitor information centers located in Santa Fe, Lordsburg, Glenrio and Manuelito.

Learn more at newmexico.org.

The Taxation and Revenue Department serves the State of New Mexico by providing fair and efficient tax and motor vehicle services. It administers more than 35 tax programs and distributes revenue to the State and to local and tribal governments throughout New Mexico. The Department strives to reduce taxpayer burden through clearer communication, statutes, regulations, forms, correspondence and instructions.

Connect with us on tax.newmexico.gov, LinkedIn, YouTube and Twitter @NM_MVD.

New Mexico MainStreet (NMMS) develops local capacity to engage people, rebuild places and grow the entrepreneurial, creative & business environment resulting in economically thriving downtowns, greater business & employment opportunities, and a higher quality of life. NMMS was founded in 1984 and currently serves 30 MainStreet Districts and 12 Arts & Cultural Districts. NMMS is a program of the New Mexico Economic Development Department.

Learn more at nmmainstreet.org.

 

 

AFLEP stands up to the Banking Bull at Legislative Panel

AFLEP stands up to the Banking Bull at Legislative Panel

Photo of ‘Charging Bull’ & ‘Fearless Girl’ sculptures by Anthony Quintano

On October 13, 2023, AFLEP again went before the Interim Economic & Rural Development & Policy Committee. Watch the full video here.

AFLEP Executive Director Angela Merkert faced 4 community bankers, plus 2 CEOs of NM Bank Associations; a formidable six-headed Banking Bull harnessed to the status quo and echoing “there’s not a problem!” By their side was The NM Finance Authority offering research that affirmed our findings and small fixes with a “we’ve got it taken care of” attitude.

Standing with AFLEP was a Northern NM Farmer who shared his story as proof of the enormous challenges rural New Mexicans face when seeking farm or small business loans.

The Bull charged in, brandishing the “riskiness” of a public bank and arguing it would “cripple” our community banks. Two myths easily proven false by North Dakota, where a state public bank has garnered large budget surpluses, high credit availability, and the highest per capita network of community banks in the US!

The truth is the Banking Bull’s “Profits First!” business model and regulatory limits have dug them in to resist change. Strong ties to Wall Street Banks obscure their view “outside the box”, making them unable to grasp how a public bank could complement their services and bridge NM’s documented lending gaps.

Like the fearless girl, we are small but not easily intimidated. We persist in winning over legislators with true stories, generative solutions, and hard facts.

A NM state public bank, created by and for New Mexicans to meet our unique needs, will be a powerful tool to build the thriving communities we all deserve.

We need you to add your voice to our movement. Together we can give New Mexicans control of our state’s revenues and unleash the innovative potential of our people!

New Proposal for a NM State Public Bank

New Proposal for a NM State Public Bank

 
by Angela Merkert, Executive Director, AFLEP

Alliance for Local Economic Prosperity met recently with the Economic & Rural Development & Policy Committee, an interim committee of the state legislature. You can watch the video of the full hearing here. We presented a proposal for a new plan for initiating a Public Bank of New Mexico (PBNM). The plan was developed based on recommendations from legislators in one-on-one conversations and expanded research on the potential for prosperity and wealth development for NM rural and frontier communities. That research notes that federal monies will be coming into the state designated for agriculture and rural small business development, especially for historically marginalized populations. AFLEP’s proposal takes those factors into consideration.

What’s in it?

The proposal met with the most positive responses that we’ve had regarding proposed legislation. What’s in our proposal? The details are being fine-tuned.
The key points include:

  1. an appropriation for an initial capitalization of the bank with $10 million, rather than $50 million;
  2. moving $35 million in deposits from a Wall Street bank into the PBNM, rather than $60 million;
  3. identifying two communities/regions of the state to engage in Community Conversations to identify potential and needs, including economic support;
  4. recruiting a community advisory group that would include stakeholders, including individuals in the roles of Main Street Directors, community banker, small business entrepreneur(s), credit union representative, and community foundation representative; and
  5. development of initial lending programs to address identified economic support gaps proposed by the advisory group that will be forwarded to the PBNM board.

The Community Conversations and planning would take place at the same time that bank implementation (incorporation, chartering, board and executive staff recruitment) is occurring. By the time the bank is ready for operation, initial lending programs will be in place and there will be a designated time to prove the bank’s feasibility and effectiveness.

This isn’t our final plan, but a strong foundation to the plan is developing and receiving positive responses. We’ll keep you informed of our progress. We wanted to share this new approach and our excitement about it with you!  Let’s keep the momentum going and focus on local revenues being invested in local communities for increased prosperity and the health and well-being of each one. Join with us as we advance this proposal!

Rural NM catching up to high-speed internet with federal infrastructure grants

Rural NM catching up to high-speed internet with federal infrastructure grants

By Ryan Boetel for Albuquerque Journal | June 25, 2023

 

Rural NM has some of the worst access to high-speed internet. Here’s what the federal government is doing to address the disconnect.

 

Photo above: Horacio Lizama, left, from Medanales, and Juan Andres Maestas, from Abiquiú, work on one of several computers provided for people at the El Rito Library on Thursday. Eddie Moore / Journal

EL RITO — At the El Rito Library, VHS cassettes of “Saving Private Ryan” and “Gone with the Wind” are for rent. Many locals can’t get high-speed internet access, so streaming isn’t an option.

Several people on Thursday afternoon were using the library for its internet. It’s one of the only public places with reliable service in the region.

Alison Brislin, a librarian, said a big part of her job has become guiding people through basic internet skills, such as using portals or paying bills, which are becoming more and more common parts of life.

“You’re super-disconnected. We need the internet for everything now,” Brislin said. “Before, it was a luxury to have the internet. Now it’s becoming more of a necessity.”

From the Bootheel in the southwest corner of the state to Abiquiú in the north, there are parts of New Mexico with some of the worst access to high-speed internet in the country.

But now, more than a hundred million dollars is pouring into the state from the federal government for large-scale broadband projects already underway. Government officials say the projects will address sharp divides in the state — both between urban and rural residents and across racial lines, in terms of who can access high-speed internet.

Luis Reyes, the CEO of Kit Carson Electric Co-op, which has been tapped for more than $20 million in grants and loans to build a fiber network throughout northern New Mexico, said the projects will be transformative for New Mexico.

“It’s very archaic,” Reyes said of the quality of the internet in parts of the state. “What’s happening is we’re leaving a lot of the kids behind because they don’t have the same tools and opportunities as (students) in the metro areas have.”

Kit Carson Electric, which has been offering internet services in northern New Mexico since 1999, recently received a $23.6 million grant from the U.S. Department of Agriculture to build a fiber cable network to bring high-speed internet to about 2,693 people, 42 businesses, 34 farms and eight educational facilities in Rio Arriba County. He said many of the customers live in the Abiquiú and El Rito areas. The company is also required to put up an additional $5 million as a loan for the project, Reyes said.

The grant was one of six recently announced, worth a total of about $123 million, that will fund a series of broadband infrastructure projects across the most rural areas of the state. The grants were awarded from September 2022 to March 2023, according to USDA documents.

Reyes said he’s hoping that customers in the El Rito and Abiquiú areas could start getting hooked up to the fiber network sometime in the fall.

Money for the projects was earmarked in an infrastructure bill President Joe Biden signed into law in 2021. The law is funding a wide variety of infrastructure projects across the country, including several in New Mexico.

Once completed, Reyes said internet and cellphone service will greatly improve in the Abiquiú and El Rito areas.

“It’s kind of like you’re riding a bike to get to some place and then we’re going to put you in a race car,” he said.

Broadband Now, an industry watchdog group, ranked New Mexico 45th in terms of access to broadband internet in 2023, according to the service’s website. Only West Virginia, Alaska, Mississippi, Arkansas, Vermont and Missouri ranked worse.

There were stark differences between rural communities and urban centers.

Nearly 99% of Los Alamos County and 98% of Bernalillo County residents had access to 100 megabits per-second quality service. Conversely, no one in Catron County has access to that level of service and just 1% of Luna County residents, 1.2% of Socorro County residents, and 7% of people in Hidalgo County have access to high-quality broadband, according to the group’s website.

The disparity is also reflected along racial lines: In New Mexico, 6% of Anglo residents lack internet access, compared with 12% of Hispanics or Latinos, while nearly a quarter of the state’s American Indian population doesn’t have broadband access, according to the website.

Read the full story at abqjournal.com.

Access to Capital in New Mexico is Tightening

Access to Capital in New Mexico is Tightening

by Angela Merkert, Executive Director, AFLEP

With the challenges in the financial system—banks closing, fintech gaining market space, interest rates rising—lending for small businesses is decreasing. One recent business article reported that the U.S. loan approval rate for small businesses by big banks dropped to 13.5%, according to the Biz2Credit Small Business Lending Index. They also reported that small business applications had only 18.7% approved by small (community) banks. The rate of credit union approvals was 19.8%. The rates of approvals have been decreasing for all banks, dropping .4% for each entity March to April. (Albuquerque Journal, May 2021, “Less Lending.”).

What does this mean for New Mexicans with dreams and plans who need capital to make them real?

Although the figures for New Mexico are not available, there is no reason to believe that these figures don’t apply to loan approval rates here—and may be even lower. Entrepreneurs then reach for higher interest loans via the internet or credit cards, borrow from family and friends, or their dreams are diminished or let go. Start-ups and business expansions become stalled or not even begun.

Small businesses employ more people in New Mexico than midsize and large businesses. These businesses deserve support, especially in our rural communities. Community wealth grows as businesses develop and thrive, increasing the tax revenue available to access funding of community projects for roads, clean water, libraries, medical centers, and public safety equipment. All are facets of local economic prosperity and provide a foundation for the health and well-being of people who live in the community and surrounding region.

Image: Cafe Rio Pizza in Ruidoso, NM. Photo by Fevin Patel.

We can do better, New Mexico. An increasing number of economists are offering alternative models to our economic system that are more strongly based on values and the inclusion of more people’s needs rather than the maximizing of profit for the few. We have extreme inequality because we have supported policies and regulations that allow it.

According to Rana Foroohar, author of Homecoming: The Path to Prosperity in a Post-Global World, between 2022 and 2034 there will be about 991 million farm and ranch acres turning over to new owners, 40% of the U.S. mainland. If the current trend continues, large agriculture corporations will be purchasing that land as investments along with other countries. China is a current major investor in agriculture now in support of food security for its population. During the pandemic, pork prices increased early when China required their pork processing investments to divert produce to China rather than selling through their prior outlets in the U.S.

New Mexico cultural history may reject that investment trend, which will mean that for farms to be sustainable, strong local and regional markets will be required, reducing food exports to other parts of the U.S., and imports to the state. That will require more infrastructure for food processing and distribution. Small steps are being made now.

Foroohar also addresses the emphasis that globalization makes on developing efficiencies rather than resilience. She advocates that if we are to cultivate more resilience in our economy, we need to place more focus and resources on local and regional community development rather than on globalization. As we learned during COVID, we need more resilience in our food system—from cultivation to processing to distribution. This shift of focus points toward the need for investment in small and midsize businesses.

What’s missing to advance these needs? Capital to expand those facilities. Keeping our revenue safe, local, and working for New Mexicans and their community prosperity is a major AFLEP goal. We must do more to support businesses that will sustain families and keep them in their respective communities. Join AFLEP and help to advance equitable access to capital for rural community development and enhanced local prosperity. Share this message with friends, volunteer to engage your community leaders and legislators, contribute toward advancing this initiative. YOU can help to make a difference in the well-being of our communities, our fellow New Mexicans.

Revolving fund bills show gaps in NM financial capacity

Revolving fund bills show gaps in NM financial capacity

by Angela Merkert, Executive Director, AFLEP

Whew! That 60 day session went by fast. Over 240 bills were passed of the more than 1000 filed. A number of those bills will support increased local economic prosperity. We are grateful for legislative support for them—water quality, acequias, universal breakfasts and lunches for our school kids, broadband expansion, some geothermal support, the Legacy Conservation Fund, and more.

We are disappointed that more of the climate adaptation legislation was not passed. New Mexico walks a fine line between embracing fossil fuel extraction revenues and dealing with the damage done to our environment, to the health of New Mexicans. We are running out of time to have only a reactive position to climate change; we need to be proactive to ensure that our rural communities and small businesses have opportunities to thrive, not only the larger companies of the state.

AFLEP is committed to persist in our advocacy for increased support of rural development, including improved infrastructure, and small business innovation and entrepreneurship in both urban and rural areas. We need additional income sources from expanded economic development support. Although some projections shared in the 2022 interim committees suggest that the revenues from extraction will fall in 7-8 years, there are also projections for those revenues to diminish in 4-5 years as more alternative energy sources ramp up. We don’t have a lot of time to address those upcoming revenue gaps.

Thank You!
The AFLEP team wants to thank each and every one of you who wrote emails, called legislators’ offices, and attended hearings on our priority bills during the session. Our voices and attention to legislation matters.

We are now being watchful of the Governor’s decisions as she moves through the passed legislation to add her signature—or not. What we do know is that, given the fire-hose of projected revenue to consider in the budget development, there were many requests for revolving funds of a year to 5 or 10 years’ duration. Not all made it through the sausage-making machine. However, sponsors and advocates behind the legislation had data that identified gaps in the state’s financial capacity to advance development in the areas of alternative energy, local economic development, environment, and more.

The state’s needs are significant, especially in preparation for the years ahead when we will be dealing with even more extremes in our weather that will affect our farming and agriculture practices and other impacts. We can be creative and consider how to expand the state’s lending capacity with a tool, like a state public bank, that will expand the investment of an initial $50 million to $450 million in lending power. That’s a significant investment in New Mexicans! We will be meeting with state officials, legislators, allies, and reaching out into more of our communities beginning in April to detail the missed opportunities of the newly passed budget and develop actions to address those possibilities.

There is increased wariness by some individuals about trust in banks, especially after the crisis of the Silicon Valley Bank. They did not meet regulatory requirements, their leadership did not address issues that had been identified and the regulators, for some reason, didn’t step up when they determined that SVB was not responding to the issues. That was not a typical situation. We’ll have more to share and explore in the days ahead about this blip in the financial system.

The team is not standing still. During the legislative session our financial plan for a state public bank was audited by a local CPA firm. The assumptions were tested and we now have broadened and deepened conservative financial projections for a successful bank. Stay tuned for more details about our plans—for a fair, just, equitable financial system that supports ALL New Mexicans! And join in our actions that will begin with interim committee hearings later this spring.

We appreciate your support and look forward to your engagement toward a vision of increased local economic prosperity for all New Mexican communities.

Life Link + Homewise Partnership Delivers More Than Financing

Life Link + Homewise Partnership Delivers More Than Financing

Partnership Delivers More Than Financing

The Life Link in Santa Fe rents and owns multiple buildings where it delivers a multitude of services. When management wanted to create synergy around some of those services by housing them under one roof, the nonprofit organization turned to another nonprofit organization: Homewise.

Homewise partnered with The Life Link through the process of financing the purchase of its property, and with the help of a Homewise commercial loan and additional grant funding from another source, The Life Link acquired a 2,600-square-foot property.

>This is how the partnership is benefiting Santa Fe

Homewise is a community development financial institution (CDFI) that has been helping people achieve their homeownership goals since 1986. In 2021, the nonprofit lender initiated a commercial mortgage loan program to provide affordable capital to small businesses and nonprofit organizations interested in owning the buildings they rent. Homewise offers commercial property loans of up to $1 million to eligible businesses in designated tracts.

>Learn more about Homewise Commercial RE Loans

NM Awarded Grant to Help Small Businesses Cultivate Global Marketplace

NM Awarded Grant to Help Small Businesses Cultivate Global Marketplace

New Mexico Economic Development Department (EDD) Cabinet Secretary Alicia J. Keyes announced Monday that the state has been awarded a $250,000 STEP grant from the U.S. Small Business Administration to help small businesses cultivate the global marketplace.

The State Trade Expansion Program (STEP) is an initiative that provides matching grants for states to assist eligible small businesses export their products. The program offers assistance with foreign trade show booth space, interpreters, export training programs, and the U.S. Department of Commerce’s Gold Key matchmaking services in major markets abroad.

Expanding global trade is a priority for Gov. Michelle Lujan Grisham as a means to further diversify New Mexico’s economy. The $250,000 award is the largest the state has ever received under the STEP program.

“There has never been a better time to introduce your business to the international marketplace,” EDD Cabinet Secretary Keyes said. “We are pleased to be able to provide guidance and support to our New Mexico businesses who want to grow with the aid of global sales.”

“Thanks to the SBA and New Mexico Economic Development Department, STEP has become the most effective program we have to support new-to-export small businesses,” Celeste Nuñez said, Director of International Business Resources for the New Mexico Trade Alliance. “We can’t wait to utilize this new round of funding to usher in New Mexico’s next generation of exporters.”

For more information, read the press release at edd.newmexico.gov.

 

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It's Our Money with Ellen Brown

Episode: Everyone deserves a public bank

Join those who’ve endorsed a Public Bank for New Mexico

Paul Gibson endorses Public Banking NM

“I had the good fortune to work on this initiative before Bernie kidnapped all my time. This is one of those no-brainer initiatives that only the 1% could oppose. It has the potential to save the state millions of dollars by vastly reducing the cost of its bonds to improve infrastructure funding. in a public bank, our state funds can be used to build our local economy and our local infrastructure.”
 
– Paul Gibson
Retake Our Democracy

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