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Committee backs creation of Technology and Innovation Division, research fund and prize
Summary
HB20 would establish a Technology and Innovation Division within the Economic Development Department, create an R&D/deployment fund and an innovation prize; the committee approved the Commerce & Economic Development substitute 7-2.
House Bill 20 would create a Technology and Innovation Division at the Economic Development Department, establish a research, development and deployment (RD&D) fund to support institution‑industry projects in targeted sectors, and create a New Mexico Innovation Prize to accelerate technology commercialization, the sponsor and the governor’s economic advisers told the committee.
Proponents, including university representatives, the governor’s economic development policy advisor and the secretary‑designate for EDD, said the measure aims to marshal state assets — national laboratories, research universities, community colleges and private industry — to compete for federal technology hub funding and to retain emerging companies in New Mexico.
The RD&D fund is proposed at an initial authorization of roughly $100 million to create matching capacity for large federal awards that frequently require substantial state or local matching commitments, proponents said. The bill also establishes an advisory board with core members from the state’s higher‑education institutions, national labs and a public member selection process; the secretary of EDD appoints additional public members and chairs the board.
Supporters told the committee the structure mirrors successful, focused offices such as the state film office by providing a dedicated unit, staffing and grant authority to help technology firms scale and stay in New Mexico. Representatives from UNM, NMSU, CNM, New Mexico Tech, Sandia and Los Alamos noted collaborative development in drafting the substitute.
Committee members asked about anti‑donation concerns and grant criteria; EDD staff and the secretary explained the department’s existing statutory grant authority and said awards would be conditioned on documented economic benefits and match requirements. Representative Armstrong said she would vote no to the committee substitute but welcomed further work and amendments; the committee approved the substitute 7‑2.
