ALBUQUERQUE, N.M. (KRQE) – The state is joining forces with the private sector to grow high tech local businesses.
BayoTech Inc. is receiving a $2 million infusion. It’s the first company to receive funds from the New Mexico Catalyst Fund.
The goal is to help New Mexico companies get off the ground and grow.
Gov. Martinez says that New Mexico has the potential to be a leader in high-tech business if we work with them.
“We’re going to keep fighting for those businesses and entrepreneurs that have great ideas, they just need to get their ideas tested fully and completely and make sure they get out into the market,” Gov. Martinez said.
The money will help BayoTech finish testing its nitrogen fertilizer production equipment, which helps farmers be kinder to the environment.