NM is on the right track to attract businesses

State benefitting from reforms and a new pro-business attitude

Earlier this month, I had the pleasure of joining Gov. Susana Martinez in welcoming Keter Plastics, an international manufacturing company, to Belen. Keter chose to make Belen its headquarters for manufacturing household products for the entire western United States.

When Keter tried to find a site for their facility eight years ago, New Mexico wasn’t on their radar. They looked at California, Nevada and Arizona. At the time, they decided not to make the expansion because of turbulent markets. But, in 2016, Keter renewed their search. They looked at the same states. But, this time, New Mexico also made the list — and won.

Just a few months ago, Facebook chose to locate its new data center right up the road in Los Lunas. Think about that: Two global companies — industry leaders — will now be located within 20 miles of each other.

Right here in the Valencia County.

So, what’s changed since Keter first started looking eight years ago?

Back then, New Mexico’s economy was in dire straits. Belen was losing business. Solo Cup, one of our important manufacturers, took a couple of hundred jobs with them when they left our community for another state. Other companies were considering leaving our state in search of friendlier, more competitive places to operate.

There were no businesses in our recruitment pipeline. Federal jobs and investments were being shed at an alarming rate.

Over the past few years, however, things have begun to turn around. While I’ve been in office, I’ve advocated for probusiness reforms that make it clear to national and international business communities that Belen — like New Mexico — is open for business.

In Gov. Susana Martinez, Belen found an advocate and partner to help us push for new local jobs. Keter choosing Belen is evidence of that.

Under Martinez’s leadership, the state has cut taxes 37 times, lowered the corporate tax rate by 22 percent and instituted a single sales factor that ends the practice of punishing businesses in New Mexico that export their goods.

And tax pyramiding is a thing of the past, putting a stop to the double and triple taxation of manufacturers.

Perhaps most importantly, New Mexico’s job training incentives through JTIP have expanded and our state’s closing fund through LEDA has increased to $56 million. Both incentives are critical to attracting companies to our city and state.

As a result of these reforms and, frankly, a fresh pro-business attitude in our state, New Mexico is now in the game to compete for jobs. We now find ourselves not only competing with, but also beating out states like Arizona, Texas, California, Utah and Nevada. Thousands of new jobs have been created over the past six years in New Mexico, including hundreds in my county — and we want more.

But the bottom-line is, without a strong closing fund and the other improvements to our business climate, 175 people in my community would not have the opportunity to get a steady, high-paying manufacturing job at Keter.

The people of Belen are better off with these jobs and the people of New Mexico are better off when we have the right tools in place to attract businesses.

I know when I go to Santa Fe to fight for our community this legislative session, I’ll call for building on the reforms that are working for Belen and communities across New Mexico. Let’s keep moving Belen and our state forward.