Albuquerque Business First: Heinrich blasts shutdown’s effects on NM

Sen. Martin Heinrich, D-N.M., said those who aren’t concerned about the effects of the federal government’s shutdown are ignoring the impact it’s having in New Mexico.

Heinrich made his remarks Tuesday in a speech on the Senate floor.

“In my home state of New Mexico there is no question that this government shutdown has been irresponsible, reckless and devastating to our economy,” Heinrich said. “New Mexico serves the nation in many ways, through our national labs, our military bases, with federal lands and monuments that host Americans from every corner of our nation. As a result, federal dollars in 2010 were nearly 36 percent of our state’s gross domestic product.”

Heinrich said the shutdown is having a big impact on small businesses that rely on federal contracts. He noted that contracts related to defense account for almost two-thirds of government procurement spending in the state, which is home to nearly 27,000 federal workers.

“Because of the shutdown, important job-creating investments in small business — the engine of our economy — are delayed,” Heinrich said. “On average, over $300,000 in federal loans are approved for small businesses in New Mexico each and every day. But not today. Because of this reckless and irresponsible shutdown, those small business aren’t getting the loans to grow their business. They aren’t hiring new workers.”

Heinrich also pointed out that because of furloughs, the Bureau of Land Management has stopped processing energy leases on federal land.

“A lengthy delay in the permitting process will not only take a toll on New Mexico’s oil and gas industry, but also on the revenues generated for New Mexico’s schools,” he said.