New Report Puts New Mexico in Winning Circle for Nanotechnology Development

SANTA FE, N.M.--(BUSINESS WIRE)--Jan. 27, 2005--Lux Research, a New York consulting firm, ranked New Mexico No. 5 in its ability to develop the state's economy through nanotechnology, announced New Mexico Economic Development Department (www.goNM.biz) Secretary Rick Homans. The report, "Benchmarking U.S. States for Economic Development from Nanotechnology," notes that the United States as a whole is investing as much in nanotechnology as it did in the space race -- and the stakes are equally high.

"Multiple stakeholders -- including state and local officials, federal representatives, large corporations, startups, investors and universities -- have a vested interest in making nanotechnology efforts succeed," said Lux's Managing Director F. Mark Modzelewski. "Biotechnology created more than 400,000 jobs from 1979 to 1999. Nanotechnology promises a far greater economic impact because it can affect not just biologically derived products, but all manufactured goods. Also, it's not just new jobs that are at risk from nanotech; existing ones in industries impacted by nanoscale science are on the line as well."

“We're putting the building blocks in place for a 21st century New Mexico economy”

New Mexico's ranking puts it ahead of such tech powerhouse states as Texas, Pennsylvania, New Jersey and North Carolina. The announcement comes during the week that the state's new Microsystems and Nanotechnology Partnership (MiNaTep) was launched. This partnership of business, academic and research institutions was created to drive commercialization of these technologies forward in order to create new opportunities and higher wage jobs for New Mexicans. MiNaTep was initiated by Governor Bill Richardson and the Economic Development Department's Office of Science and Technology, led by Mike Orshan.

"We're putting the building blocks in place for a 21st century New Mexico economy," said Homans. "I am delighted that Lux Research's report shows we are moving in the right direction."

The report says that the leading states, including New Mexico, have three things in common:

1. Involve all relevant stakeholders in developing nanotechnology initiatives

2. Focus on commercialization from the outset

3. Play to the state's strengths

"This is exactly the playbook for New Mexico's efforts in nanotechnology," said Dr. Andres Salazar, PNM chair in Microsystems, Commercialization and Technology, and the senior advisor to MiNaTep. "I applaud the governor's initiative in creating this partnership as we develop new and exciting opportunities for the state."

The top 10 states for nanotech economic development, according to the Lux Research report are:

1. Massachusetts

2. California

3. Colorado

4. Virginia

5. New Mexico

6. New Jersey

7/8. Connecticut, Maryland (tie)

9. Illinois

10. New York