Valencia County economic development hotspot Momentum, not a cure
as public officials questioned a potential package they saw as too generous.
Matt Geisel, New Mexico’s economic development secretary, said incentives are one of the ways the state is able to “close the gap” between itself and competitors. As for tax abatements and rebates, they reflect “revenue that wouldn’t have happened if the development didn’t happen,” he said.
While the county’s recent success has been a boon for village coffers and local businesses, Valencia still grapples with the problems that have plagued it for decades. Census data from 2015, the most recent year for which statistics are available, show that nearly 11 percent of Valencia County households live far below the poverty line on $10,000 annually; Advocates for the poor say that thousands of households are struggling to survive today.
And crime is still a problem. Valencia, with a population of about 76,000, is the sixth-most populous county in the state, but it is second only to Bernalillo County for violent crimes, according to a 2016 FBI report.
But Mims said economic development is key to addressing the county’s other issues.
“It’s about creating jobs and opportunities for our young people,” said Mims. “That impacts crime, that impacts services, that impacts everything else.”
To create those jobs, the county has had to take careful inventory of its assets and learn how to market them. Geisel said one of the county’s greatest achievements has been showcasing those assets to businesses that might not have considered looking outside big cities. “It’s a case study,” he said. In other words, the rest of the country may look to Valencia County in 2020 during the next presidential election. But New Mexicans are watching the community now to see what it portends for the rest of the state.