Each December, NAIOP celebrates essentially the most thrilling, progressive developments and redevelopments of business property across the state, via its annual Awards celebration.
It’s the end result of years of onerous work for a lot of of our members, and actually a time to have a good time. This yr, in fact, on account of the pandemic, it was celebrated otherwise – on-line.
As we exit 2020, I can’t assist however marvel – what would the yr have regarded like if all the things however the pandemic had not develop into an afterthought?
After which my thoughts began wandering to the considered what made New Mexico what it’s, and if we might change something, what wouldn’t it be?
New Mexico has an amazing quantity of property that actually makes it stand out from different states. As somebody who has performed enterprise in 46 markets in 14 states (and been to most states) through the years, I can actually say that New Mexico is exclusive. It’s why I moved right here from Wisconsin nearly 30 years in the past.
From a local weather standpoint, the climate is gorgeous, and but we nonetheless have seasons that aren’t too harsh. The shortage of pure disasters, affordable prices and decrease inhabitants density would seemingly make this an ideal place to run a enterprise, significantly on this age of COVID-19.
So why are we the doughnut gap compared to all the states round us? Why are the states round us rising at multiples of our anemic inhabitants progress? Why are we ranked at or close to the underside of all states within the checklist of “Finest States for Millennials?” Why do we’ve the second highest poverty charge within the U.S., a lot increased than our neighboring states?
I feel there are a variety of attainable explanations that may be raised. For one, our dimension and geography create difficulties for growth, which highlights the rationale we’re forty sixth of fifty states with respect to inhabitants density. Due to that, except for just a few mid-sized communities, economies of scale are onerous to attain for companies.
This has additionally created a little bit of an urban-rural divide that additionally exists in different states, however is far more prevalent right here.
In my view, the reply to the riddle is jobs. With out jobs, poverty goes up and all the detrimental lists that New Mexico is commonly on the high of, spotlight our failures.
A few of it’s systemic, with a poor public training system that’s persistently not held accountable for its failures. A few of it comes right down to setting priorities. Companies and buyers seeking to spend money on or relocate to New Mexico must be appreciated.
As a state, we ought to be doing all the things we are able to to encourage funding and companies to return to our state by making it simpler and cheaper. I used to be struck just lately, by a remark from a bunch of buyers that got here to see me – they have been contemplating investing in industrial actual property in New Mexico. As an proprietor of a industrial actual property/property administration firm, I used to be shocked when their first remark to me (the primary time assembly them) was, “Inform us why Albuquerque and New Mexico have a repute of being anti-business.”
That ought to by no means occur. We ought to be doing all the things we are able to to encourage job progress and get away from the “us vs. them” mentality. Either side of the political aisle ought to be listening and taking notes. If not, we’re in for a tough future. Simply my opinion.
I feel most of us can be glad to have 2020 finish and are wanting ahead to an improved future, starting with 2021 and a COVID-19 vaccine across the nook. I want everybody a Merry Christmas, Completely happy Hannukah, or no matter you have a good time, and a contented and affluent New Yr!
Joe Farr is the president/proprietor of Duke Metropolis Business LLC.