SANTA FE – Gov. Michelle Lujan Grisham on Tuesday issued the following statement after the state Senate unanimously voted to approve Senate Bill 39, expanding the Buy New Mexico initiative:
“This is common-sense legislation that keeps more state dollars right here in New Mexico, lifting up local businesses and growing our state economy. Smart policies like these are what make our state a great place to be in business, and I thank the Senate for joining me in supporting New Mexico-grown, Native-owned, and veteran-owned businesses.”
Sponsored by Senator Benny Shendo and Representative Harry Garcia, SB 39 reforms the state procurement code by:
- Increasing the bidding preference of New Mexico businesses seeking state and local government contracts from 5% to 8%.
- Allowing, for the first time, Native American-owned businesses operating on tribal land to qualify as certified New Mexico resident businesses and receive the same bidding preference as other in-state companies.
- Renewing the 10% bidding preference for certified New Mexico resident veteran businesses, which is due to expire June 30 without action by the Legislature to extend it.
- Doubling the cap on New Mexico veteran-owned businesses receiving the 10% bidding preference from those with annual revenues up to $3 million to those with annual revenues up to $6 million.
The Buy New Mexico initiative was launched by Gov. Lujan Grisham in 2019, and resulted in a 9% increase in New Mexico businesses registering with the state to become notified of upcoming contract awards.
Each year, the state of New Mexico and local public bodies spend billions of dollars to buy goods and services, including everything from janitorial supplies to computers, landscaping services to legal representation.
The goal of the Buy New Mexico initiative is to drive more of those purchasing dollars to in-state businesses, helping them grow and create more jobs in communities around the state.
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