Bill > SB221

This bill appropriates $2 million from the state's general fund to the economic development department for fiscal year 2017 to create a cooperative marketing program aimed at attracting businesses from outside New Mexico to establish operations within the state. The program will offer incentives to encourage local governments and economic development organizations to participate, ensure consistent branding in its marketing efforts, and include mechanisms to measure and report on its effectiveness. Any funds not spent or committed by the end of fiscal year 2017 will be returned to the general fund.