State adds more funding to New Mexico’s global trade economy
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SANTA FE, N.M. – The state is adding more money to support the global trade economy here in New Mexico by allocating funding toward the Santa Teresa port of entry.
“I never understood how important global trade is,” said Cabinet Secretary Alicia J. Keyes. “And the governor this past year, put in a request to Congress for $170 million to expand the Santa Teresa port of entry. She put $50 million towards the border connector highway, and she put $8 million towards water resources.”
According to the president and CEO of the New Mexico border association, the Santa Teresa port entry counts for more than 50% of the state’s worldwide exports.
In 2020, the Santa Teresa industrial base made $24 billion from international trade.
This new funding is said to help with improvements in traffic flow and facilities — all to help improve trade operations in the Santa-Teresa, El Paso, and Jaurez areas.
With this new funding, Gov. Michelle Lujan Grisham and EDD intend to use the funding towards the same goal of boosting New Mexico’s economy by creating more jobs in this area while stimulating money from our state.
“The economic work that we do today is going to give us the ability to do all kinds of interesting innovative stuff,” Lujan Grisham said. “From new rural health care delivery to moving and changing a population demographics by encouraging families who actually want to add or move here because you know what they hope for economic security for the future.”