Rep. Moe Maestas’ Bill to Stimulate Economic Development and Job Creation for Small Businesses Advances
Santa Fe – Today, Rep. Antonio “Moe” Maestas’ (D-Albuquerque) bill to stimulate economic development and create more jobs for small businesses in New Mexico advanced in the House Commerce and Economic Development Committee. House Bill 384, the Historically Underutilized Business Opportunity Act, would create a “HUB” certificate for small businesses and encourage the use of these New Mexico businesses in gaining contracts by state agencies.
“We must build up our small business infrastructure here in New Mexico. When minority and women-owned businesses succeed, we all succeed,” said Rep. Maestas. “As New Mexicans, we know that diversifying our economy and expanding economic opportunities has lasting impacts across our great state.”
Local business leaders have expressed their support of this legislation, including the Albuquerque Hispano Chamber of Commerce.
“Working with Rep. Maestas, The Albuquerque Hispano Chamber of Commerce has supported this legislation over the past few years. This bill will ensure that New Mexicans get to bid on state agency procurement opportunities, keeping the money in New Mexico and increasing job opportunities for small businesses throughout the state,” said Ernie C’deBaca, President & CEO of the Hispano Chamber of Commerce.
“This legislation, passed in the 1990s in Texas, has resulted in a $2 billion program that benefits small businesses, the state coffers, and state agencies throughout Texas. This is one program that we can use in New Mexico to grow our businesses and keep our kids in this state,” said Steve Schroeder, Real Time Solutions President.
“This bill is similar to many statutes across the United States and ensures that our dollars multiply in New Mexico, creating new jobs for New Mexicans,” said Michelle Hernandez, Esq., Partner with Modrall Sperling law firm, Former Chair of the Albuquerque Hispano Chamber of Commerce.
House Bill 384 would require that the small businesses eligible for the act be at least 51 percent owned by women, African American, Latino or Hispanic, Asian, Pacific Islander, Native American or Alaska Native business owners. The bill now moves to the House State Government, Elections & Indian Affairs Committee for consideration.