New Mexico Gov. Michelle Lujan Grisham and NMexus on Tuesday announced a first-of-its-kind global business accelerator. It will serve as a commercialization center to boost foreign direct investment in the state.

The governor announced the NMexus (MEK-sus) Center at the SelectUSA Investment Summit in Maryland, just outside of Washington, D.C. The NMexus Center will equip companies from India, the Middle East, Europe, and Asia with the tools offered by this business accelerator. It will provide them with the knowledge and networks necessary to successfully expand operations into New Mexico. They are also essential to succeed in the U.S. market.

“Today’s exciting announcement is the result of my administration’s strategic efforts to recruit and retain new businesses in New Mexico. The state has a longstanding reputation as a leader in innovation,” said Gov. Lujan Grisham. “The NMexus Center sends an unmistakable message to the rest of the world: New Mexico is open for business.”

The first cohort in the business accelerator is locating in the NMexus Center in the Mesa del Sol innovation district in Albuquerque. It is made up of companies from India and Oman. They include Zonap Engineering India, Alligator Automations, DCirrus, Inc., Supreme Technology, American Grain Corporation, Oliver Merino LLC, and Ardic.

The NMexus Center is equipped to serve up to 40 companies each year. This business accelerator is expected to generate nearly 100 jobs in its first year. It could create as many as 1,500 jobs within five years. The combined economic impact of the NMexus Center over five years is estimated to be more than $400 million.

Tuesday’s announcement reinforces New Mexico’s status as a global science and technology leader and a growing FDI destination. India is the 15th foreign country investing in the state. Under Governor Lujan Grisham, New Mexico has attracted $2.57 billion in foreign investment, demonstrating the effectiveness of engaging with companies in their home countries.

“Today marks a new chapter for New Mexico. We’re seeing the tangible results of our efforts in global trade. This work is bearing fruit,” said Economic Development Cabinet Secretary Rob Black. “Through NMexus and our international partner organizations, we have created an economic super-highway with our business accelerator. This allows companies to start and grow their presence in the US. It creates jobs and manufacturing opportunities.”

NMexus Executive Director Amar Vakil said Mesa del Sol offers tremendous resources for the new business incubator.

“We chose to invest in New Mexico, specifically in the Mesa del Sol innovation district of Albuquerque. This decision was due to its unmatched combination of affordability and connectivity. The area provides access to a thriving ecosystem of research institutions and national laboratories. It also offers a highly skilled workforce,” Vakil said.

“This project is a launchpad for international companies ready to scale in North America,” said Albuquerque Mayor Tim Keller. “The NMexus Center reflects our commitment to helping companies transition from entry to expansion, right here in Albuquerque. We’re not waiting for opportunity—we’re creating it with this business accelerator.”

Lujan Grisham announced historic partnerships during Tuesday’s news conference. These partnerships include IIT Kanpur and the Telangana Chambers of Commerce and Industry. They also involve the Oman Business Network. Additionally, the Traders Advocacy Group of Ghana is part of these partnerships. These new partnerships will further establish New Mexico as a commercialization gateway. They will help foreign companies set up a presence in North America.

Additionally, these partnerships will encourage joint research and development between NM-based and foreign universities. They will tackle cyber security for critical infrastructure. They will also develop green and sustainable energy technologies for the global energy transition. Furthermore, these partnerships will enhance the ability for foreign companies to near shore operations and solve supply chain issues.

“New Mexico offers a valuable opportunity to explore business expansion. It is strategically positioned among the United States’ states. It is also highly collaborative,” said Karthik Maheshwaran, President of the Telangana Chambers of Commerce and Industry.

The state participated in the Investment Summit in Maryland this week. After this, a delegation of companies from India and Ghana will travel to New Mexico. They will celebrate the official opening of the Center, a key landmark for the business accelerator, and join in an ecosystem tour of the state.

“We are excited about the NMexus Center opening.” Melinda Allen, President & CEO of the New Mexico Partnership, expressed her enthusiasm. “This innovative program will be a catalyst to attract more foreign direct investment across multiple industry sectors. We look ahead to welcoming the foreign delegation and showcasing the benefits of locating in New Mexico.”

NMexus Ecosystem Partners and Companies

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