Rep. Don Tripp, Speaker of the House 575-838-7064 | firstname.lastname@example.org
Sen. Mary Kay Papen, President Pro Tem 575.649.7853 | email@example.com
Mark Lautman, The CELab 505.818.8218 | firstname.lastname@example.org
COUNCIL DETERMINES NEW MEXICO NEEDS TO CREATE 140,000 NEW ECONOMIC BASE JOBS BY 2024
Using a revolutionary process, the New Mexico Jobs Council is achieving clarity and consensus on what it will take to get the state back to full employment.
ALBUQUERQUE, NEW MEXICO October 26, 2015 – According to a revised report presented Friday by the New Mexico Jobs Council (NMJC), the state will need to create 140,000 new economic base jobs over the next ten years in order to return the state to pre-recession employment levels.
Economic base jobs are those where the products and services produced are sold outside the state. These jobs bring new money into the economy and grow the economic pie. Every economic base job is estimated to create one or two additional service sector jobs.
This means the state must create an average of 14,000 new economic base jobs every year to be at full employment by 2024. Over 80,000 of the 140,000 jobs are needed just to replace those expected to be lost over the next ten years. Another 17,000 will be needed to bring unemployment under 5%, and 42,157 will be needed to support new population growth.
“It is the first time we have had consensus across the isle and across the state about how many jobs we need to create, where those jobs should come from and what specific improvements are required to make them happen.” says NMJC Co-Chair, Speaker of the House Representative Don Tripp.
These estimates are the result of a three-year deliberative process in which the NMJC convened stakeholders in each of the state’s seven economic districts in day-long deliberations to assess each county’s job creation needs.
In addition to estimating how many jobs will be needed, stakeholders estimated how many jobs could be created over the next ten years with a reasonable level of support from the private sector and state and local government. The number they came up with was 151,461, or over 11,000 more than the NMJC estimated it would need.
“While it’s turning out to be a lot more jobs than anyone thought, everyone involved in this process believes we can do it.” says NMJC Co-Chair, President Pro Tem of the Senate Mary Kay Papen.
Stakeholders also estimated how many jobs could be created in each of nine separate economic base job categories, or “theaters,” and which job creation barriers would need to be cured for them to materialize.
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Jobs Council – Page 2
Data points used in the NMJC calculus were determined by unanimous consensus of stakeholder groups convened for each county in the state. A full report will be available following the NMJC’s final meeting of the year on Monday, November 16th in Santa Fe.
In other action, the NMJC voted unanimously to recommend pursuing the development of a more rigorous and comprehensive system of metrics, accountability and planning for state and local job creation efforts.
The NMJC also unanimously supported inclusion of several new legislative program initiatives aimed at improving the state’s economy.
About The New Mexico Jobs Council
The New Mexico Jobs Council (NMJC) formed in 2013 when New Mexico legislative leadership approached The CELab to develop a framework and a process to help them determine what it would take to return the state to full employment by 2024.
Setting it apart from any other initiative of its kind, the NMJC is unique in that it (1) is made up of legislative leaders, key cabinet members, and private sector stakeholders (2) recommendations and findings of the council must be unanimous, (3) council meetings are conducted in full-day, town hall deliberations instead of the traditional legislative hearing setting, and (4) all major data points are developed through county level town hall deliberations using a consensus process where participants agree on estimates of key findings before seeking the counsel of experts. For more information visit: http://www.nmlegis.gov/lcs/committee_detail.aspx?CommitteeCode=JOBS
About The CELab – Contract Staff to The New Mexico Jobs Council
The CELab is a New-Mexico based 501(c)3 non-profit think tank, focused on innovative ways to do economic and workforce development in a labor and capital constrained economy. Since its formation in 2007, the CELab has innovated a suite of new program approaches to economic development. For more information visit www.thecelab.org.