Just yesterday the Martinez Administration New Mexico Community Development Council received word via email that Horizon Building Technologies withdrew its application for a HUD 108 loan. (The NMCDC is responsible for administering federal funds for community infrastructure development).
According to our sources, this means that 150 manufacturing jobs paying $42,000 per year are going elsewhere. Further, it appears that these jobs would have gone to Las Cruces.
“Due to an unnecessarily long vetting, review, and administrative process Horizon Building Technologies has been forced to make decisions on a business based time line rather than the remainder of the time line outlined by DFA/Local Government. As a result Horizon Building Technologies has successfully sought and acquired funding from both private banking as well as government incentives from the State of Colorado.”
According to the email, Colorado was able to process and approve the incentives “in a period of two months whereas the HUD 108 loan process through the State of New Mexico was initiated ten months ago and has still not attained a workable model.”
Unlike most states in the country, New Mexico continues to lose out on the jobs front. The Martinez administration has been a dismal failure in creating jobs. To lose out on these jobs is unforgiveable. Heads must roll.