Business/Economy

SANTA FE, N.M. (AP) — Gov. Susana Martinez's administration plans a summit in October to gather recommendations for boosting New Mexico's economy.

The Economic Development Department is organizing the "New Century Economic Summit" in Albuquerque on Oct. 2 to hear from community and business leaders and educators.

Economic Development Secretary Jon Barela said policy recommendations may be incorporated into legislative proposals and the agency's long-term strategic plan for expanding the economy.

Barela said the summit needs to consider New Mexico's tax system, infrastructure, economic development incentives and educational programs for preparing a competitive workforce.

The summit will be held at the Workforce Training Center at Central New Mexico Community College. There is a $25 registration fee, and the public policy group New Mexico First is helping with the summit

The kiosk for the new Smith’s Fueling Station went up this week. Smith’s Manager John Roberts said the target date for completion is Oct. 3.

If the normally quiet pumps at your favorite gas station have started spouting advertisements at you recently, chances are the station is one of three locations now under longterm lease to Western Refining.

In an agreement signed June 6, Western Refining acquired longterm leases from Polk Oil on 12 stations throughout Northern New Mexico. The Chevron on Trinity Drive, the Shell station on Diamond Drive and the Conoco Quik Stop in White Rock are part of that group.

Although Western Refining operates 222 stores throughout New Mexico, Arizona, Southern Colorado and West Texas — known as Giant Convenience Centers — this is the company’s first venture into Los Alamos County.

“The transition has gone well,” said Gary Hanson, vice president of corporate communications. “We’ve completed rebranding and the office systems have been converted. And we’re very pleased with the performance of those stations.”

“Our retail stores help us as a business. They give us an outlet for the oil and gas we produce at our refineries. So it’s good to add these stores to our mix,” Hanson continued. The company has refineries in El Paso and Gallup.

SANTA FE, N.M. (AP) — A new financial forecast estimates more than $270 million will be available to lawmakers and Gov. Susana Martinez for budget increases next year.

Top officials in the Martinez administration outlined the revenue projections on Wednesday to the Legislative Finance Committee during a meeting in Angel Fire.

The state expects to collect $5.9 billion during the 2014 fiscal year, which starts next July. That's $272 million more than the state will spend this year. That's also the pool of so-called new money available for spending increases on public education and other government programs as well as to offset any tax cuts that may be enacted.

Lawmakers estimate that several obligations in current law, such as higher public employee pension payments by the state, will require $74 million of the money.