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Apr 17, 2009

Re-energizing NM: State has Plans for Stimulus Money

By Brook Stockberger

LAS CRUCES - Billions of federal dollars will be up for grabs in the coming months as more funding from the American Recovery and Reinvestment Act is pumped into the nation's economy.

Lt. Gov. Diane Denish and the New Mexico Community Foundation want to make sure the Land of Enchantment snares its fair share.

Denish, along with Kathy Keith who works with the New Mexico Community Foundation, spoke Wednesday about recovery dollars at a luncheon hosted by the Las Cruces Home Builders Association and the Greater Las Cruces Chamber of Commerce at the New Mexico Farm & Ranch Museum.

"We have money coming directly to the state of New Mexico: $1.8 billion sent directly to the state in grant money," Keith said. "In addition, $74 billion in competitive federal grant money will be on the streets, probably in the next four to six months."

Earlier this year, Denish announced the start of the Rural Economic Recovery Initiative to help nonprofits, schools, communities and other groups take advantage of the federal money.

One area she wants the state to pursue is funding for alternative energy resources.

"One of the things the Recovery and Reinvestment Act does is put a lot of money into research and development for geothermal, for bio mass, for thermal," Denish said. "We are putting together a proposal from the state for some of the competitive monies at the federal levels to make sure we invest in the alternative energy industries here in New Mexico."

Some of the money will go toward training and education.

"There's going to (be) a lot of money pumped into installing new energy efficiency technologies," Keith said. "Whether it is solar panels or wind energy, we know we don't have a workforce qualified in every community big enough to meet that need."

Keil Hoffman of Pioneer Bank, the Mesilla Valley Economic Development Alliance and president-elect of the Greater Las Cruces Chamber, said a better-educated workforce will lead to a better business climate

"We need better prepared employees to be a better place to live, then, in turn, we'll have people buying houses," he said.

From Las Cruces Sun-News. View Article»

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