New Mexico has significant potential to become the next bioscience hub and a leader for bioscience industries across the U.S. Many of the tools we need to grow the industry in New Mexico are already here – we simply need to realize their potential.
The bioscience sector could radically transform New Mexico’s economy and become a leading source of jobs, infrastructure and innovation. Bioscience products and services will continue to remain one of the fastest-growing markets over the next 20-30 years. It’s vital that New Mexico’s educational institutions, national laboratories and private businesses work together to make the state a bioscience hub.
New Mexico is already home to some successful bioscience businesses, accounting for 9,300 jobs and about $1.2 billion in earnings in 2015. The industry still has plenty of room to grow, however, so many companies will be competing for diverse, qualified candidates.
New Mexico is also home to celebrated national laboratories and research universities, such as the University of New Mexico, that produce highly skilled bioscience graduates ready to fulfill positions within the industry.
New Mexico has many other assets, including abundant natural resources, inexpensive land and low energy costs, all of which help companies reduce overhead, leaving more room for expansion and innovation. All of this will combine to help propel New Mexico to the forefront of bioscience research and industry.