$40M approved for economic development

ALBUQUERQUE (KRQE) – New Mexico’s state government is putting more cash on the line to promote economic development.

The State Investment Council approved $40 million for venture capital investments in local companies Tuesday.

The Albuquerque Journal reports the money will be invested in start-ups in health care, energy and other fields in the next three years.

The money comes from the state’s permanent fund.

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