On Nov. 5, Leadership Albuquerque participants traveled to Netflix Studios, located in Mesa del Sol, for Economic Development Day.
Jeremy Oswald, Leadership ABQ chair and ABQ market president for Citizens Bank, told the group a growing economy is a good thing as it contributes to rising wages, more home-building and home-buying, a broader tax base, more available jobs and an increased capacity of government to address persistent social challenges.
“We should want our economy to grow – for your own future, for the future of your businesses and organizations,” Oswald said. “So that your children and grandchildren might be able to succeed economically and achieve their dreams – right here in New Mexico.”
Oswald said a thriving economy doesn’t happen overnight and takes work from all sectors.
While there are bright spots in New Mexico, he pointed out data that is a challenge for the state:
- New Mexico’s poverty rate is 18%, higher than the U.S. average and one of the top five highest in the country. Median household income is among the five lowest.
- Census: Between 2010 and 2020, New Mexico gained just 58,000 residents. The state’s population growth rate was 2.8%, our smallest growth rate since statehood. (Texas grew by 15.9%, Colorado by 14.8%, Arizona by 12%, and the nation by over 7%… Utah had a growth rate of 18.4%) We didn’t grow at all between 2022 and 2023, and in 2024, we grew by just 0.43%. Our population is aging as well.
- Other things: home building is slow, education quality and child well-being are low and crime is high.
“We have a lot of room for improvement when it comes to creating a more thriving and diverse economy,” Oswald said. “It’s been my experience that, when you’re not where you want to be, you have to do some things differently to get yourself to a better place.”
Oswald introduced the first speaker, Dale Dekker, founding principal and architect at Dekker, to speak about New Mexico’s economic challenges and opportunities.
The group then heard from Nick Autio, New Mexico Medical Society general counsel, and Troy Clark, New Mexico Hospital Association president and CEO.
The pair spoke about access to high-quality health care professionals and facilities, as well as Medicaid, hospital regulations and funding, and New Mexico’s health care workforce.
Oswald said health care has been at the forefront of both state and federal policymaking over the last couple of years, and it will be a big topic in New Mexico’s upcoming legislative session.
“As you likely know and have experienced, New Mexico does not have enough doctors, nurses and other health care professionals,” Oswald said. “Our health care workforce shortage absolutely impacts economic development – it hinders our state from attracting and retaining new businesses, new investments and new workers. When people move to a community, they want to feel safe, send their children to good schools, and be able to find a doctor and access medical care in a timely fashion.”
After a short break, Leadership Albuquerque participants heard from Zachary Vernon, director of photonics for Quantinuum. Vernon is a physicist with expertise in photonics and quantum computing.
Oswald then introduced Joy Forehand, vice president of Workforce and Community Success at Central New Mexico Community College, and Kyle Lee, CNM Ingenuity CEO, to speak about how higher education plays into building an agile and responsive workforce.
“CNM is an integral partner in the economic development mission,” Oswald said. “We’re fortunate to have a helpful partner in CNM that is capable of turning on a dime to help produce qualified workers in key industries. … We’re focused on the role that CNM plays in developing workers and supporting economic growth in our community.”
Leadership Albuquerque participants then broke into their service project groups and toured Netflix Studios.
After the tour, Scott Darnell, Leadership Albuquerque’s director and a former senior state and local government official, helmed the group exercise on designing an ideal tax code for New Mexico. The groups worked together on developing one.
With the legislative session around the corner, Leadership Albuquerque participants also heard from Senate Majority Whip Michael Padilla and House Appropriations and Finance Committee Vice Chair Rep. Meredith Dixon.
The legislators talked about what tools we have as a state to support the growth of our economy including:
- Incentives for relocation, expansion and start-up companies
- Infrastructure for commerce – roads, broadband, air, space and water
- Technology production and commercialization
- Housing and health care
To end the day, the group heard from Steve Chavez, Mesa del Sol managing partner.
Darnell said Mesa del Sol is a fascinating, master-planned community that continues to attract residents and major anchors – including amenities (Isleta Amphitheater), companies (Fidelity, Netflix, quantum and energy), and recreational opportunities (soccer complex).
“It’s not easy to start a community from scratch. You have to have a little bit of a ‘if you build it, they will come’ mindset,” Darnell said. “That’s especially the case in a state that isn’t seeing a lot of year-over-year population growth. But Steve Chavez is making it happen. It is his vision and ingenuity that is paying off for this area and building a new community where people can live, work and play.”
Next up for Leadership Albuquerque is the Public Safety Leadership Albuquerque day, which will be in December.