ALBUQUERQUE, N.M. (AP) – Gov. Susana Martinez says more investment in water infrastructure will ensure New Mexico can capitalize on economic development opportunities.
Without sustainable sources of clean water, she says companies won’t be interested in investing in New Mexico.
Martinez spoke Wednesday to a room full of water managers a meeting of the New Mexico Rural Water Association.
The association’s members have been looking for ways to make the most of the drought-stricken state’s limited fresh water supplies while grappling with aging wells and pipelines.
State officials estimate New Mexico has more than $1 billion in water infrastructure needs.
Martinez says legislation she recently signed into law will help by making smaller municipal water associations eligible for state loans. The legislation also extends the loan payback period to 30 years.
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