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SANTA FE — During our recent stay in Maui, I routinely bought the little newspaper printed on the island. It carried local news and a few Associated Press stories from the mainland.
One of those few AP stories that made it into the Maui News was about Hobbs winning a competition for the development of a nearby $400 million city with no people.
I remembered reading about this deal before. Someone was trying to talk a city up north, maybe Santa Fe, into entering the competition for a $200 million research city to test next-generation technology.
The thought occurred that this sounded like a Bill Richardson State Investment Council venture. But then I saw in the Maui News that New Mexico Gov. Susana Martinez was hailing the effort as one of the most unique and innovative economic development projects the state has ever seen.
Upon returning to Santa Fe, I learned that the venture had grown to $1 billion and that former Gov. Richardson’s Economic Development Department had declined to partner with Pegasus International Holdings because of its nebulous business plan.
Ironically, Gov. Martinez has been criticized for disinterest in any of Bill Richardson’s big projects. Could the corollary to that be that anyone who was turned down by Richardson might want to try again with Martinez?
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