LEADS Grant Recipients Support NM Economic Development

New Grant Awards Announced Supporting 11 Economic Development Projects & 3 Solo-Entrepreneur Programs

The New Mexico Economic Development Department has announced the recipients of this year’s LEADS grants, as well as three organizations that will split $75,000 for their programs supporting entrepreneurs working from home, Cabinet Secretary Alicia J. Keyes announced today.

Santa Fe Business Incubator public kick-off event via Zoom for Runway Program

The Local Economic Assistance & Development Support Program (LEADS) supports economic development projects that produce positive outcomes. Projects may be awarded up to $25,000 on a cost reimbursement contract. Eligible applicants must be part of an economic development program, have passed the Local Economic Development Act (LEDA), and have an up-to-date plan that supports business development and job growth.

Recipients of LEADS grants in Fiscal Year 2020 resulted in: 100 new jobs in Rio Rancho; six new jobs created by entrepreneurs in San Juan County; two new outdoor recreation businesses in Farmington, after the city used its grant to renovate a downtown warehouse; five new businesses in Santa Fe; five rural counties received training specific to successful rural entrepreneurship resulting in 28 businesses accessing $312,600 in capital; 10 new food businesses in the South Valley; 422 new jobs in Doña Ana County, along with $14.9 million in new payroll; and 125 new jobs in Lovington created by a hemp production company.

“This type of collaboration between the Economic Development Department and our partners is crucial to help communities across the state create jobs and support businesses,” Keyes said. “There is a new era of entrepreneurship in New Mexico and we are seeing it in these strong ideas that can now move forward with LEADS.”

2021 LEADS Awards:

Town of Mountainair: $2,730

The Town of Mountainair will purchase presentation equipment and materials for the Mountainair Multi-Purpose Building, which will transform an existing open space building into a functional training center.

Grow Raton: $9,020

Grow Raton’s project will provide workforce development services for businesses in the hospitality sector, covering a broad set of needs and requirements including: cleaning and controls pertaining to COVID-19 safety; customized tourism training modules for Northeastern New Mexico; and compliance training.

Greater Tucumcari EDC (GTEC): $25,000

GTEDC will develop an interactive kiosk to be placed at the Glenrio Visitors Center, Tucumcari Chamber of Commerce, and select restaurants and motels to allow business travelers to tell their story.

Greater Gallup EDC (GGEDC): $25,000

GGEDC’s attraction strategy is to target businesses which diversify the local economy and can be supported by the local community infrastructure. GGEDC will participate in trade shows and sales missions, and will expand its local business, retention, and expansion efforts.

Mesilla Valley EDA (MVEDA): $25,000

MVEDA is seeking to expand its target industry marketing efforts, more closely matching state investments, into newly developing sectors, including video game development, hemp production, and outdoor recreation. They will use the LEADS grant for trade shows, research, and sales missions to attract companies in these sectors.

Santa Fe County: $10,000

Santa Fe County will procure two software platforms for the purposes of tracking county businesses, business data, and for tracking available real estate throughout the county. The software for tracking businesses will support the county’s business retention and expansion efforts. The real estate software will provide a platform for Realtors to upload information on available properties which can be used to attract new business.

Lovington EDC: $8,000

The Lovington EDC will use GIS software to build and showcase the community’s building and land inventory database. The software projects data points such as population, climate, labor, workforce, industry, job growth, incentives, education, healthcare, and more. The building and land inventory will function as an invaluable tool in the community’s business recruitment efforts.

MainStreet T or C: $10,637

Downtown Truth Or Consequences has many vacant buildings it would like to fill in order to create a more viable and attractive commercial district. MainStreet T or C will identify underutilized non-residential properties in the downtown area, engage owners in revitalizing the property, and determine the market potential for each site.

Cibola Communities EDF (CCEDF): $15,000

CCEDF is focused on business retention and expansion with this award, visiting and surveying up to three local businesses each week. The organization will also host virtual meetings to disseminate information to existing businesses regarding funding and financing resources to increase productivity and profitability.

Roswell-Chaves County EDC: $25,000

Roswell-Chaves County EDC will use its grant for business attraction, retention, and expansion, and real estate and workforce development. They will participate in trade shows and sales missions, support the local Façade Grant program, and seek Site Certification for the Roswell International Air Center, thereby making it more attractive and marketable. The EDC will also work with Eastern New Mexico University-Roswell and the Department of Workforce Solutions to collaboratively create a Career Technical Education program in Chaves County.

Sandoval Economic Alliance (SEA): $25,000

SEA has developed a business retention and expansion program named C.O.R.E. (Community Opportunities through Retention and Expansion) which helps local economic-base companies grow. Funds will also be used for a pilot Economic Gardening program which guides businesses through the steps to identify current strengths and challenges, connect them with financial and business resources, and help grow their market presence and sales.

Santa Fe Business Incubator (SFBI): $25,000

SFBI will use its funding for its Runway pre-incubation program which assists early idea stage entrepreneurs in assessing the market potential of their idea and equipping them with the necessary information to make an informed decision.

WESST: $25,000

WESST will continue its efforts to support rural business development in 5 counties — Taos, Mora, San Miguel, Santa Fe, and Rio Arriba — utilizing a creative entrepreneurship program. The goal of the project is to facilitate and promote market access for goods produced by creative entrepreneurs in rural New Mexico.

Rio Grande CDC & South Valley Economic Development Center (SVEDC): $25,000

SVEDC’s Solopreneur program is a low-cost entrée to business development, adapted to COVID-19 standards through virtual business coaching and support. Scheduled weekly sessions with staff pinpoint help and access to resources based on the individual client’s business needs and strengths, crafting personalized goals through a set of startup benchmarks.

Essential Meeting Tips for Buyers and Sellers

The buyer-seller meeting is quite often a “make or break” meeting. Your business broker or M&A Advisor will do everything possible to ensure that this meeting goes as well as possible.

It is vitally important to realize that rarely is there an offer before buyers and sellers actually meet. The all-important offer usually comes directly after this all-important meeting. As a result, you want to ensure that meetings are as positive and productive as possible.

Buyers need to understand how the process of selling a business works and what is expected of them from the process. Buyers also need to understand that following their broker’s advice will increase the chances of a successful outcome.
Sellers should be ready to be honest and forthcoming during the meeting. They also want to be sure to not say or do anything that could come across as a strong-armed sales tactic.

Asking the Right Questions

If you are a buyer preparing to meet a business owner for the first time, you’ll want to make sure any questions you ask are appropriate and logical. It is important for buyers to place themselves in the shoes of the other party.
Buyers also shouldn’t show up to the buyer-seller meeting without having done their homework. So be sure to do a little planning ahead so that you are ready to go with good questions that show you understand the business.

Building a Positive Relationship

Buyers should, of course, plan to be polite and respectful. They should also be prepared to avoid discussing politics and religion, which often can be flashpoints for confrontation. When sellers don’t like prospective buyers, then the odds are good that they will also not place trust in them.

For most sellers, their business is a legacy. It quite often represents years, or even decades, of hard work. Needless to say, sellers value their businesses. Many will feel as though it reflects them personally, at least in some fashion. Buyers should keep these facts in mind when dealing with sellers. A failure to follow these guidelines could lead to ill will between buyers and sellers and negatively impact the chances of success.

Sellers Should Be Truthful

Sellers also have a significant role in the process. While it is true that sellers are trying to sell their business, they don’t want to come across as a salesperson. Instead, sellers should try to be as real and honest as possible.

Every business has some level of competition. With this in mind, sellers should not pretend that there is zero competition. A savvy buyer will be more than a little skeptical.

The key to a successful outcome is for business brokers and M&A Advisors to work with their buyers and sellers well in advance and make sure that they understand what is expected and how best to approach the buyer-seller meeting. With the right preparation, the odds of success will skyrocket.

 

Copyright: Business Brokerage Press, Inc.

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New Mexico Makes Top 10(s) in Site Selection State Rankings Report

New Mexico made multiple Top 10 lists in site selector Business Facilities‘ 16th Annual State Rankings Report. The Land of Enchantment is also the Land of Fantastic:

  • Workforce Development – Talent Attraction (Number 9)
  • Film Production Leaders (Number 2)
  • Unmanned Aerial Systems (Number 9)
  • Electricity Generation (Number 8)

New Mexico’s Job Training Incentive Program (JTIP) is one of the most generous in the country. NM JTIP funds classroom and on-the-job training, supporting newly-created jobs in expanding and relocating businesses.  And it reimburses 50-75% of employee wages. The program recently awarded nearly $1 million to support a total of 120 new and existing workers.

“New Mexico has a robust pipeline of businesses looking to expand in the state and relocate here,” says Economic Development Secretary Alicia J. Keyes. “We know JTIP and other assistance helps businesses bring new and higher paying employees on board, sooner and with more confidence.”

The New Mexico film industry is a state favorite, according to the recent Garrity Group survey. “It definitely contributes to a ‘cool factor’ we have here,” says Annemarie Henton, Vice President of Business and Development Marketing for Albuquerque Economic Development.

This year’s disruptions presented methodological challenges to the study. Business Facilities explains:

The process of evaluating the information we use to calculate our annual rankings usually begins in the spring. In the spring of 2020, as the unfolding calamity of the coronavirus pandemic turned all of our lives upside down, we had to decide what, if any, impact the disruptions of COVID-19 would have on the results in our 16th Annual Rankings Report.

We always try to configure our rankings as forward indicators that give you a clear picture not just of which locations are atop our leaderboard, but also who’s got the Big Mo—the assets, strategies and track record that spell growth potential.

In our 16th annual rankings, we’ve acknowledged the unique circumstances of what we all hope is a temporary disruption. We’ve dropped our overall state and metro Economic Growth Potential rankings for this year’s report; we won’t speculate on which regional economies are going to recover the fastest from this unprecedented crisis. We also reset our rankings data clock, setting it early enough to make sure that the wind-shear level turbulence the pandemic has inflicted on economies, markets and employment statistics did not skew our results. You might say we’ve quarantined COVID-19 and locked it out of our Rankings Report.

If you’re thinking of expanding or making a new move, New Mexico is a great place to buy a business! Learn more about opportunities to own a business here and contact us for more info.

The Main Street Lending Program

The main street lending program has gotten less attention than other areas of the government’s pandemic response and support for businesses. However, depending on your business’ financial state and needs, it can be a powerful tool.

The main street lending program was designed for businesses that were financially sound prior to the pandemic. The minimum loan amount is $250,000, lowered in June from the an initial $500,000 minimum to allow more small to medium-sized businesses to receive support. Authorized under the CARE Act, the main street lending program is quite attractive for an array of reasons.

This lender delivered program is a commercial loan. Unlike the PPP, there is no forgivable component. However, the main street lending program does have one remarkable feature that will certainly grab the attention of all kinds of businesses. It can be used to refinance existing debt at a rate of around 3%. With that stated, it is also important to note that businesses cannot refinance existing debt with the current lender. Instead, a new lender must be found. Generally, loans are a minimum of a quarter million dollars and have a five-year term. In another piece of good news, there is a two-year payment deferment period.

The main street lending program can be used in a variety of ways; it is not simply for refinancing existing debt. Additionally, there is no penalty for prepayment. The way the program works is that lenders make the loans and then sell 95% of the loan value to the Fed. This of course means that the lender is only required to retain 5% of the loan on their balance sheet. The end result is that lenders can dramatically expand the amount of loans they can make.

An experienced broker can help advise you about the small business support options available and what’s right for your business. Businesses looking to restructure debt or put an infusion of cash to good use will find that the main street lending program offers a very flexible loan with great interest rates.

Tips to Achieve (the Elusive) Work-Life Balance

“What impact has working from home had on productivity and creativity?” A recent study conducted by researchers from Harvard Business School, MIT Media Lab, and McCombs School of Business at the University of Texas at Austin explored this question with more data than has historically been available.

The Study

The researchers state: We decided to explore how employees have fared since they began working virtually. To that end, we started surveying a diverse group of more than 600 U.S.-based white-collar employees during the second half of March and have continued to do so every two weeks since then. (This article is based on results collected through May.) Approximately half of our respondents are women, and half are men; they hail from 43 states; nearly half are married; and more than a third have children. About 40% hold management positions. We have been asking them about their job satisfaction, work engagement, perceptions of their own performance, conflicts with colleagues, stress, negative emotions, and current living situation, among other questions.

The results of this extensive study are fascinating. In general, they find that work is OK! The survey indicates that job satisfaction and engagement fell steeply during the first two months of the pandemic and shelter at home orders, but then recovered. Many respondents even report higher happiness and productivity working from home.

The Challenge

The transition involved leveling up communication skills, remote management strategies, adapting to some technology, and maintaining work- life balance. While we’re collectively figuring most of it out, work-life balance remains elusive (perhaps because it wasn’t a huge strong point under normal circumstances).

The workday significantly increased at the beginning of all-virtual work: In the weeks immediately after the lockdown began, only half of employees were able to maintain a 10-hour workday or less, whereas nearly 80% had been able to do so previously. These patterns have started to trend back to pre-lockdown levels, although the workdays are still 10% to 20% longer on average.

10% to 20% longer on average! If you are one of the many people struggling to keep work circumscribed, time management coach Elizabeth Grace Saunders suggests following these four steps.

Step 1: Define “After Hours”

Saunders suggests you do this by defining and thinking though the non-work goals you have for a daily and weekly basis. How much time do you want for family, friends, exercise, cleaning, sleeping, etc? Work that time into your schedule and protect it. Obviously, getting work done is important. But, if COB is kind of arbitrary these days, define it by when you want to start working on your other goals for the day.

Step 2: Have Mental Clarity

Be really clear on what needs to get done, when, and the steps required to succeed. Make use of project management apps, calendars, or your own system of sticky notes. The point is to avoid Middle of the Night Dread and start your days with organized purposiveness. Saunders suggests an end-of-day wrap up and plan of action for the day to come. Then leave it at that.

Step 3: Communicate with Your Colleagues

Even if your job requires more constant accessibility, you can communicate how you would like to be reached. Saunders suggests something like, “It’s fine to text me during the day with questions, but after 6:30 please send an email unless it’s urgent.” That way you’ll know only one channel of communication is worth fretting over “after work.”

Step 4: Get Work Done at Work

“It’s exceptionally difficult, if not impossible, to not be distracted about work when you’re stressed out because you haven’t gotten your work done,” says Saunders. To avoid this vicious circle, guard your time. Saunders recommends timeboxing. Make (and keep) “meetings” with yourself when you can focus on getting things done. The time you spend organizing and prioritizing your projects from the mental clarity step will come in handy here. And communicating that you’re Do Not Disturb (unless it’s an emergency) helps your colleagues help you stay focused.

One interesting finding from the Work From Home study is that we’re all in this situation together. It’s not just a platitude.  If we’re all adapting to working from home, no one is at a special disadvantage because of working from home. While this doesn’t exactly imply equity, it might help you relax enough to take some care of yourself.

 

5 Creative and Free Ways to Promote Your Business

“When times are good, you should advertise. When times are bad, you must advertise.” The 100 year old adage coined by advertising pioneer Bruce Barton remains relevant today, says Forbes Contributor Brad Adgate in this article.  “Studies going back nearly one century point out the advantages of maintaining or even increasing ad budgets during a weaker economy,” writes Adgate. Those advertisers that maintained or grew their ad spending increased sales and market share during the recession and afterwards.”

That might be easier said than done. Here are five tips to help promote your business and increase your reach and influence without spending extra money.

Make great visuals for social media

It’s easier than ever to make great marketing assets for social media. Consumers of social media are getting more selective, too.  CO recommends you take advantage of free apps like Canva,  Snapseed, and Crello to power up simple photos to quality marketing material. You can also make videos for free with your phone. Data show videos get more shares on social media than photos and text. It’s a little more time consuming to make good videos, but it’s a great way to share your brand without spending more.

Reward customer loyalty

Fostering relationships with returning customers and rewarding customer loyalty are crucial during this time.  This might take the form of discounts for frequent customers, special reservations on sales or selected products, or advanced notice on new inventory. “Either way, be sure to take advantage of any tools offered by your current point-of-sale (POS) system,” writes CO Contributor Joyce Walsack. Here are more tips to build customer loyalty.

Hold a customer contest

“People love a challenge—whether it’s guessing how many marbles are in the jar or submitting a photo of themselves using your product, says Walsack. “Fostering a little friendly competition is a great way to connect with current customers and potential new ones.” Hosting contests on social media can increase exposure and engagement. Have fun with the ideas! The best contest designs will reflect a real understanding of your clientele. The creative examples on this blog about successful Instagram contests might help spark ideas.

Grow your community

Participating in community is a fantastic way to network meaningfully. You can make connections and widen your marketing reach and word of mouth. Social media is free and easy. There’s no travel involved and it is naturally socially distant, which is a big plus for now. But local festivals, trade shows, fundraisers, and Chamber of Commerce events (many of which are digital right now) offer  important opportunities as well. “Search out businesses that complement your own and forge alliances,” suggests Walsack.  “Feature each other’s products in your photography, tag each other in your posts, and search for other creative ways to boost each other’s brands.” If you’re making donations or participating in charity drives, by all means share that experience with your customers through social media. Research indicates that consumers increasingly care about business’ social values. But they’re also getting very savvy and sensitive to empty gestures. Be sure sure your community engagement walks the walk if you’re talking about it.

Share your expertise

Position yourself as an expert and leader in your area of expertise. It can time up time, but it can also be a fun and help you build connections. “Blogging and podcasting are obvious ways to show off your knowledge. If time doesn’t allow for what can amount to a second career, consider doing so on a guest basis,” says Walsack. “Contact publishers of websites in your industry and inquire about becoming a contributor. Join LinkedIn and Facebook Groups as well as industry specific discussion boards. Offering incisive, valuable comments in those forums will allow you to organically build a reputation as a knowledgeable player in your field.”

Changing Consumer Behavior

This conversation about changing consumer behavior patterns due to the pandemic is trending on LinkedIn this week:

The coronavirus pandemic has reshaped consumer behavior and the marketing landscape, pushing companies to rethink how they interact with customers. Amid social distancing measures and shutdowns of brick-and-mortar stores, e-commerce sales are booming — growing 76% in June, according to Digital Commerce 360. Meanwhile, shoppers continue to prioritize their spending on essentials such as grocery and household goods. As consumers become more open to digital experiences and increasingly value social good efforts, advertising and marketing sectors are adapting business models and the type of projects they pursue in a time of financial uncertainty.

Watch the conversation here or with Walmart Chief Customer Officer Janey Whiteside and NYU Professor Scott Galloway discussing how brands have responded to the pandemic from shopper shifts to marketing changes.

Change, especially in a pandemic, can be daunting. Here are some resources and suggestions to help prepare your business .

Meet your customers where they’re heading!

Tips to foster relationships and build customer loyalty – As businesses navigate reopening amidst uncertainty, customers are making their own decisions about where and how to make purchases. Fostering relationships with returning customers and rewarding customer loyalty are crucial during this time. Here are eight tips for reengaging loyal customers.
Tips for managing customer experience – The consumer experience has changed since the onset of stay at home orders. Social distancing requirements, masks, and ubiquitous hand sanitizer are reminders of why we need these precautions. We know that emotions strongly impact purchasing decisions. Anxiety and frustration are common, and disappointed expectations can make things worse. Make your business feel good. It will help customers be comfortable now and build loyalty that carries into the future. Here are six tips for welcoming your customers back into a positive experience, even if things are different.
Tips for sales teams going virtual – COVID-19 has forced sales teams to radically adapt. “Consider how important the handshake has been in sales culture for generations,” writes U.S. Chamber of Commerce Contributor Nicole Fallon in this article. “It simply can’t be replicated over video chat.” That said, relationships are still vital. How can we cultivate connections at a distance? Here are five tips to help pivot your sales process for virtually mediated business.
Scenario planning and preparation  – Scenario planning is a powerful tool for developing strategy, especially given the complex web of unknowns in which we find ourselves. It leverages the cognitive, creative power of narrative to imagine and respond to possible futures. The thought experiment yields critical analysis, important insights, and the ability to innovate and prepare for a variety of eventualities.

Why Does Your Business Need Google Reviews?

In today’s business climate, reviews are the differentiator.  Years ago, people commonly asked for references when they were vetting a product or service.  But these days when people are searching for a local business to work with, they are likely to conduct research on their own and read online reviews.

Google reviews can give businesses a big credibility boost without having to spend a dime.  Let’s take a look at some of the key benefits.

Increased Credibility & Trust

According to statistics, approximately 91% of consumers read reviews to determine credibility of a local business.  In fact, 84% of consumers say the positive reviews have helped them gain trust.  Without the reviews, that level of trust would not have been established.

Needless to say, people trust Google.  The fact that these reviews are on a 3rd party website increases transparency.  These reviews have much higher value than testimonials posted on the actual business website.

Improved Business Conversions

Once a potential customer gains trust in your company through reading Google reviews, it is more likely the conversation will get converted to an actual business transaction.

Customer Feedback Loop

When your customers write reviews about your business and post them on Google, these reviews often clearly mention details about your product or service.  Through this means, future customers become educated.  These reviews can also serve as a feedback loop for you if things need improvement.

Increases Online Reputation & Visibility

The power of online marketing methods you might be using to promote your business will be amplified, as users will become more attracted to your business due to 5-star reviews.  This factor increases online traffic to your website and an increase in leads and business.

Another fact to be conscious of is that your clients will review your products or services whether you want them to or not.  If you fail to set up Google reviews, you’re missing out on the opportunity to gain a level of control and visibility.

How to Set Up Google Reviews

  • Create a Google My Business account.  – Visit https://business.google.com/ to sign in or create a Google account for a business.  Complete the step by step process by filing required information like email, phone number, business details, etc.
  • Ask clients to review your services. – Start sharing your Google My Business URL with clients and ask them to post a review about your services.  When asking for reviews, you can mention to clients that their review will help everybody else make an informed decision when they are looking for help.  It is important to ask about the review within a few days of closing your transaction.  If more time goes by, the client may be less motivated to post a review for you.
  • Remind clients. – Everybody is busy.  Therefore, there is a chance that your client might forget to write a review.  In this case, we recommend reminding them to do so.  You can also politely inquire if they need any help posting the review that you discussed.

Through the above-mentioned process, you can begin generating reviews for your business.  Of course, it goes without saying that you can only guarantee good reviews when you are providing excellent customer service along with a top-notch product or service.

Copyright: Business Brokerage Press, Inc.

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5 Tips for Virtual Sales

COVID-19 has forced sales teams to radically adapt. “Consider how important the handshake has been in sales culture for generations,” writes U.S. Chamber of Commerce Contributor Nicole Fallon in this article. “It simply can’t be replicated over video chat.” That said, relationships are still vital. How can we cultivate connections at a distance? Here are five tips to help pivot your sales process for virtually mediated business.

Use social media to its fullest potential

Social media allows you to stay on your customers’ radar in a non-invasive manner. Communication is especially important lately, as consumers face tough decisions about where and how to venture out. Social media is a great way to let your customers know what you’re doing and how you’re making your business ready and safe for them. It’s also an opportunity to support your customers and their businesses through likes, retweets, etc. These connections do more than build good will.  They can also help with market research, networking, and knowing what your competition is up to.

Ready for your close up? On screen first impressions

First impressions are still important, even if they’re happening on screen.  Invest the time and energy you’d spend on “quality control” for an in-person meeting. Professional appearances matter. Minimize distractions in your workspace and background and make sure your tech is ready to work smoothly.

Think mobile-first

People increasingly look to their smart phones as a first resort. Think about how useful and accessible your business is on mobile platforms. You should be providing a convenient, customer-service oriented experience that works on phones.

Provide value up front

Lead with value! Obviously, you’re always aiming to provide value to your customers, but the more immediately and proactively you can do this the better. Inboxes are flooded with campaigns, more so as business is relegated to digital interactions. Stand out by being helpful now. The ask can come later.

Listen and be empathetic

Emphasize efforts to understand customers’ needs. A good salesperson should always do that, of course, but it’s imperative now. By not doing so, you run the risk of coming off as offensively tone deaf or out of touch. Conversely, learning and responding to customers’ needs now can build trust and loyalty.

Film Industry Thriving in New Mexico

The New Mexico film and television industry is becoming a state favorite. A recent survey by the Garrity Group polled New Mexicans to determine the state’s perception of 17 industries. Film tied with community colleges for #3 most favorable, following the farm and ranch industry at #2 and small business in the #1 spot.

The film industry was included in the survey this year because of its increasing economic impact and the positive exposure it brings to New Mexico. “It provides a sense of pride when we see the state’s natural and unique landscapes featured on the big screen,” says Tom Garrity, president of The Garrity Group Public Relations. “Major studios are now here and film throughout the state will continue to generate intangible benefits for tourism and economic development.”

“The survey shows strong favorability for the film industry across New Mexico because it provides a high-paying career path for local students who want to work in the entertainment industry,” Economic Development Cabinet Secretary Alicia J. Keyes said. “It’s also indicative of the support we hear from business owners who receive benefits from in-state production spending on goods and services.”

“I am glad to see support for film and television all across New Mexico,” New Mexico Film Office Director Amber Dodson said. “We have worked hard to bring productions into rural areas and to showcase communities outside the Rio Grande Corridor. This survey shows people everywhere in the state want to see this industry grow and succeed.”
The favorability of the film industry cuts across all demographic groups in New Mexico, but tops out with college graduates, 81 percent of whom gave the industry a 4 or 5 favorability rating on a scale of 1 to 5.
If you’re thinking of becoming a business owner, New Mexico is a cool place to do it. Read about opportunities to buy a business in New Mexico and contact us to learn more!