March 20, 2003: Update from the New Mexico State Investment Council

March 20, 2003

in Events,Howto

Gary Bland, NM State Investment Officer
Greg Kulka, SIC Staff Member
“New Mexico State Investment Council”:

Business development objectives can often be achieved more easily with effective public private partnership. The New Mexico State Investment Council has been working diligently on a variety of initiatives that aim to increase investment options for New Mexico businesses. Gary Bland, newly appointed State Investment Officer and SIC staff member Greg Kulka will discuss progress on the SIC initiatives and what their efforts will mean for investors and for the business investment environment in New Mexico. The State Investment Officer working with the State Investment Council manages the Land Grant Permanent Fund and the Severance Tax Permanent Fund. The funds generate revenue from the more than 8 million acres of state-owned lands held in trust to benefit public schools, and the more than 13 million acres of mineral resources that are extracted and taxed. Governor Bill Richardson, Chair of the State Investment Council has proposed the the state use up to $200 million or 2 percent of these permanent funds to invest in New Mexico business.

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