The fight to diversify New Mexico's economy is critical to the future of our state. We continue to work to overcome the effects of strong economic headwinds, such as federal budget cuts, the national recession and slumping oil and gas revenue. In the face of these challenges, private-sector job growth is on the rise in our state and we're working to build a sturdier foundation that will make us stronger when the economic storms of the future come our way.
Thanks to a relentless commitment to making New Mexico more competitive for jobs and investment, we're seeing encouraging signs. Through fiscal responsibility and bold reforms, we balanced the budget without raising taxes — in fact, we've even cut taxes 37 times.
We've streamlined regulations, built up tools that help businesses grow and thrive, and we're recruiting companies to New Mexico from all over the world. Just last fall, Facebook announced they're bringing a massive high-tech data center to New Mexico — and with it thousands of long-term construction jobs and more than $1 billion in private-sector investment — with the potential for future phases, with even more jobs and investment.