Governor Richardson's Policy Initiatives

Energy

Governor Richardson, as a former U.S. Secretary of Energy, came to office with a vision for a new energy economy for New Mexico. In 2004, he gave a name to his vision: New Mexico became the nation’s Clean Energy State. Since then, the Governor has led the State in: Designing one of the country’s most generous clean energy incentives and training programs  

• Coupling a business climate of low taxes and development costs with high accessibility to government leaders and decision-makers
• Developing a productive, technical workforce
• Rallying the support of State clean technology stakeholders, from the National Labs to Public Universities to the Venture Capital community; and
• Making relocation and business growth in New Mexico as simple and straight-forward as possible

If you are a company considering relocation or expansion, the New Mexico Partnership serves as the State’s one-stop shop for information, contacts, and customized recruitment packages. Call (888) 715-5293, or visit www.nmpartnership.com. If you represent a business that already has a presence in New Mexico, or you are a resident of the state and want assistance in starting a new business, please contact the New Mexico Economic Development Department at (800) 374-3061, or via email at edd.info@state.nm.us.

For additional information click here. (4.72 mb pdf)

Governor Richardson has championed clean energy through one of the nation's most ambitious and far-sighted agendas. His policy accomplishments include, among others:

•  Renewable Portfolio Standard - requires 15% of utility-provided energy to come front renewable sources by 2015, rising to 20% by 2020

•  Renewable Energy Transmission Authority - established the nation's first state-level financing authority whose primary focus is on developing renewable energy transmission infrastructure

•  Renewable Energy Production Tax Credit - supports electricity production from wind, solar, and biomass

•  Alternative Energy Product Manufacturer's Tax Credit - grants manufacturers of photovoltaic, solar thermal, wind, biomass and electric generation systems, electric vehicles, and fuel cell systems a tax credit of up to 5% of their capital expenses

•  Energy Innovation Fund - provides millions of dollars to public-private partnerships working to accelerate the development of innovation and enable faster commercial adaptation of clean energy technologies in New Mexico

As Chairman of the Western Governors' Association, Governor Richardson hosted the North American Energy Summit held in Albuquerque in April 2004. During the Summit, Governor Richardson announced the creation of the Clean Energy Development Council to promote state policies that help create renewable energy development.

To see the text of Governor Richardson's speech: Click Here (pdf).

During the Summit, Governor Richardson urged his colleagues in Western states to develop a project with the goal of developing at least 30,000 megawatts of clean energy in the West by 2015, and to increase the efficiency of energy use by 20% by 2020. California Governor Arnold Schwarzenegger joined with Governor Richardson in recommending the western clean energy policy proposals.

To see the letter from Governors Richardson and Schwarzenegger,
Click Here (pdf).

The Energy Innovation Fund has been created to accelerate the development of innovation and enable faster commercial adaptation of clean energy technologies in New Mexico. The Fund is part of the Governor’s commitment to making New Mexico “The Clean Energy State.” The focus of the Fund this year will be on development of technology for biofuels and/or concentrating solar power (CSP). Any effort supported by the Fund must 1) be related to achieving New Mexico goals in clean energy, 2) be innovative with the potential for significant impact in New Mexico, and 3) must be a private-public sector partnership with at least one of the principals in the project being a New Mexico public entity. In addition, support from the Fund requires an equal matching contribution from the group being supported, the funds should be spent in New Mexico, and must demonstrate a reasonable prospect for return on the State's investment within four years.

Applications for the New Mexico Energy Innovation Fund are now being accepted. Applications will be accepted through June 19, 2007. For more information and an application Click Here.

To view the request for information Click Here.