ALBUQUERQUE — Steve Pearce announced today a plan for more jobs, higher wages, and increased investment in New Mexico. He released the following statement:

"New Mexico must do more to invest in our people. Today, I am announcing a new plan to change the way our state invests our own money to allow more resources for New Mexico workers and New Mexico businesses. As Governor, I will work with the State Investment Council to increase investment in New Mexico's economy so that businesses can create economic prosperity, pay higher wages, and create more jobs in New Mexico rather than leaving for other states.

"Entrepreneurs and business owners throughout New Mexico have delivered the same consistent message to me as I have traveled the state. They agree that New Mexico currently does a capable job providing seed money for startups. Our state also provides access to capital for businesses that have experienced success and want to expand. But New Mexico fails when it comes to the middle round of financing for businesses that have a proven concept but need funding to take their product to market, hire employees, or open a facility.

"My plan will make up that gap so that businesses with proven potential stay here and create economic growth in New Mexico, instead of taking those jobs and tax revenues to other states where capital is readily available. There is nothing more important than giving the people of New Mexico opportunities to find meaningful work. This proposal meets a critical need and allows the State Investment Council to give New Mexico businesses the resources to grow and keep our people in New Mexico. This is only the start. As Governor, I will keep our state's focus on bringing jobs, better wages, and more businesses to New Mexico."

Steve Pearce Proposal for Investment in New Mexico, More Jobs, Higher Wages:

✔ As Governor, Steve Pearce will work with the State Investment Council to increase investment in New Mexico's economy so businesses and industries create economic prosperity in New Mexico instead of leaving for other states.

✔ Entrepreneurs and business owners throughout New Mexico have delivered the same consistent message as Steve Pearce has traveled the state in this campaign. They agree that New Mexico currently does a capable job providing seed money for startups. Our state also provides access to capital for businesses that have experienced success and want to expand. But New Mexico fails when it comes to the middle round of financing for businesses that have a proven concept but need funding to take their product to market, hire employees, or open a facility.

✔ Steve Pearce's plan will make up that gap so that businesses with proven potential stay here and create economic growth in New Mexico, instead of taking those jobs and tax revenues to other states where capital is readily available.

✔ These investments made by the State Investment Council will be overseen by a rigorous, independent entity that ensures due diligence is performed to protect New Mexico's investments. New Mexico must ensure corruption is kept out of any investment decisions.

✔ There are many opportunities and industries waiting to take off in New Mexico. Steve Pearce sees them all across the state - and many simply need the kind of financing they could easily get in other states to take the next step in their growth. Steve Pearce believes we must keep businesses here in New Mexico instead of watching them leave and take jobs, tax revenue, and economic growth to other states.

Some of the immediate opportunities across New Mexico include:

1. High tech startups / Labs and Bases: High tech startups that will contract with our National Laboratories and bases – instead of those contracts going to out of state businesses.
2. Hydroponic Greenhouses: Businesses preserving New Mexico water while creating tremendous economic growth in communities across the state.
3. Large Aircraft Painting: New Mexico can become the national leader in this area. There is no facility big enough in the country to handle the big jets, but we can do it right here.
4. Artificial Intelligence: A New Mexico company is leading the way in this space, and the technology can be expanded into other areas like job training for blue-collar workers.
5. Space Industry: Capitalize on the emerging space industry by leveraging the investment New Mexico made in Spaceport America to become a hub for space startups.
6. Rare Earth Minerals: Mining and producing products with rare earth minerals. We can begin to bring this industry back from China and we can do it right here in New Mexico.
7. New Mexico Energy: New Mexico must maximize our state's competitive advantage on all sources, including carbon free energy. Our state can produce lower cost renewable energy than others and we must attract companies that have publicly committed to renewable energy, including the high tech industry, banks, and others relying on large data center operations.