Jun. 15—How does New Mexico retain its college graduates?

The Economic Development Department thinks the state needs to invest in science and technology industries.

Specifically, EDD is focusing on aerospace, bioscience, intelligent manufacturing, cybersecurity, and sustainable and green energy to diversify the state’s economy, according to a legislative report released Wednesday.

Those areas make up less than 7% of New Mexico’s total employment, according to the report.

“This underscores a pressing need for EDD to prioritize its strategies and funding to better support those industries, while also presenting possible opportunities for the Legislature to provide additional funding mechanisms and policies,” the report states.

Aerospace makes up 3.6%, intelligent manufacturing represents 1.8%, and cybersecurity, biosciences and clean energy make up less than 0.5%, according to the legislative data.

Mark Roper, secretary of the Economic Development Department, presented to policymakers on the Legislative Finance Committee on Wednesday about his agency’s workforce and development priorities.

Roper said his agency wants to put $750,000 toward requests for proposals to analyze priority industries — aerospace, bioscience, advanced computing, advanced energy, and agriculture and water technology — “to help us really, truly understand what our assets are, what our needs are, what our opportunities are.”

EDD wants to get the RFPs out in the beginning of the fiscal year, he said, and get the proposals back by the end of October so the information is ready for next year’s budget cycle.

The legislative report highlighted the financial investments EDD has made in science and technology industries, including $52.6 million through the Local Economic Development Act and $33.6 million through the Job Training Incentive Program.

The state Legislature this year bumped EDD’s recurring funding by 31% and increased personnel funding by $500,000 to pay for staff dedicated to working on the department’s target industries.

A few lawmakers voiced concerns about jobs actually being available for new college graduates. LFC Chair Sen. George Muñoz, D-Gallup, said there’s not a lot of jobs in New Mexico for young adults when they’re out of school, like those with engineering or aerospace degrees.

He said college graduates are leaving for bigger cities like Austin, Texas, or Phoenix over Albuquerque.

“Where are we creating those jobs for those kids in those graduate sectors in New Mexico, so that we retain them?” Muñoz asked.

Roper said that’s why the state needs to make investments in specific science and tech industry sectors, “so that we continue to grow the economy in a non-oil and gas way.”

“It’s a competitive world out there. We live in a capitalistic society, and we need to compete and continue to make the investments in infrastructure and then the industry sectors,” he said.

The industries also contain high-paying jobs. The average wage for the five science and technology target industries is $90,599, according to the legislative report, which is 57% higher than the average New Mexico wage of $57,520.

The report recommended EDD continue its focus on industries with higher wages as well as prioritize “distressed” communities for the jobs, like those with lower employment rates.

“Prioritizing industries with high wages is crucial for raising per capita income and improving quality of life,” the report states.

Sen. Pat Woods, R-Broadview, asked how the EDD is working with other agencies to prepare the state’s workforce for future jobs.

Roper said workforce is the second thing to get done in order to have economic development, after addressing site readiness matters. He said EDD works closely with colleges and universities to prepare the workforce New Mexico needs.

“We work very hard in that sector with our community colleges across the state,” he said.