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Maestas: State needs robust job creation fund

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By Merilee Dannemann

The best thing we can do for small businesses, said Steve Maestas, is to increase their revenue.
The best way to do that is to attract big businesses – the businesses that bring new dollars into the state’s economy, making products that are sold everywhere and generating revenue from outside the state. Speaking recently to a group of small business owners, he said big businesses generate the jobs and pay the employees who support the local service economy.
So — here comes the punch line — New Mexico needs a taxpayer-funded job creation fund with $50 million of taxpayer dollars. We already have such a fund under a law called the Local Economic Development Act, but the law needs some amendment. And with only $15 million authorized so far, the fund doesn’t have enough money to be competitive against the incentives offered by other states.
Maestas is a co-founder and partner of Maestas and Ward commercial real estate company and Deputy Chair of the Federal Reserve Bank of Kansas City. He’s on a mission to reverse New Mexico’s dismal economic outlook, and the job creation fund is his cause.


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