New Mexico's economy is growing by leaps and bounds, and the governor is riding that wave to pass legislation designed to encourage continued growth.
Midterm elections in 2018 resulted in a Democratic supermajority with the governorship, at least two-thirds of both houses of Congress and the majority of judicial positions being filled by Democrats. Gov. Michelle Lujan Grisham wasted no time, calling for much to be done in her first months in office in 2019.
In a 60-day session, lawmakers voted to increase the minimum wage to $9 an hour and to enact stricter gun control laws, expanding background check requirements.
New Mexico Gov. Michelle Lujan Grisham
| https://www.governor.state.nm.us/
Public education received incredible support from the governor, resulting in a 6-percent raise for public school staff and an increase in minimum salaries for new teachers and those with higher certifications. The Associated Press also reports a proposed extended school calendar that would give teachers an additional five weeks of pay, about a 15-percent pay increase.
More attention is being given to classroom spending, and more funds are being directed to schools with a large population of low-income students.
None of this would be possible without the additional revenue from the state's oil and natural gas boom. In fact, most of the state's general-fund surplus is from growing oil and gas production. According to information from the Energy Information Administration, New Mexico is the nation's third-largest oil-producing state.
Government scientists say that resources found in the Permian Basin could potentially double the nation's onshore oil and gas reserves.
Another boost to New Mexico's economy has come from regulations around hemp. The latest farm bill removed hemp from the controlled substances list, and Gov. Lujan Grisham signed a bill allowing for the industrial production of hemp and related products. Many products can be made from hemp, including paper, building and packaging materials, food, biofuels and bioplastics.
New Frontier Data estimates that hemp will be a $2.6 billion industry by 2022, meaning great projections for the state's future economy.
This does not legalize recreational marijuana, though the governor has that among items at the top of her list for 2020. She has created a task force that has written rules to regulate the industry, and if all goes according to plan, legal sale and distribution may be permissible as early as July 1.
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