New Mexico’s 2026 legislative session was short, but it delivered big results for economic growth and innovation. Lawmakers advanced key policies that strengthen the state’s business climate, including extending the High-Wage Jobs Tax Credit, unlocking C-PACE financing for properties backed by Industrial Revenue Bonds and updating the Advanced Energy Equipment Tax Credit to include fusion as the industry expands in New Mexico.

The state also made major investments to keep momentum building as we grow an economy that lifts up New Mexico families. Key investments in economic development include:

• $110 million for the research, development and deployment (RD&D) fund to support early-stage innovation and commercialization across the state. 
• $49.3 million for DARPA quantum benchmarking, providing state matching funds for the federal Defense Advanced Research Projects Agency initiative.
• $38 million to establish a centralized open user facility for applied quantum information science research, including workforce training space and collaboration with national laboratories.
• $15 million to support innovation hubs throughout the state.
• $11.6 million for Technology Innovation Office (TIO) grants supporting small businesses, entrepreneurs, startups and research and development in science and technology sectors.
• $10 million for quantum innovation projects to solidify New Mexico as an industry hub.
• $10 million for higher education partnerships supporting endowed faculty positions and postdoctoral researchers across New Mexico institutions.
• $10 million for Trails+ Grants to fund community-led trail development and improvements, restoration of forests and watersheds, and infrastructure projects.
• $3.5 million for Outdoor Equity Fund, a program dedicated to connecting underserved youth with outdoor experiences. 
• $3 million to continue to support the Quantum New Mexico Institute.
• $2 million for business recruitment and attraction efforts that promote New Mexico’s economic development opportunities.
• $2 million for the Healthy Food Financing Fund to support the intersection of economic development in New Mexico’s food/agricultural supply chain with increased food security for New Mexicans.

Coming off that strong session, our EDD team was in Austin this week for SXSW as a lead partner of the New Mexico House, highlighting the state’s growing role in frontier technologies, film and digital media.

New Mexico’s creative community continues to make an impact as well. The Creative Industries Division recently hosted its first regional CreativeCon in Carlsbad, bringing artists, entrepreneurs, and cultural leaders together. Additional events are planned across the state. Take a look and join us!

Rob Black 

Cabinet Secretary, NM Economic Development Department

EDD OPPORTUNITIES

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