New Mexico Space Valley Coalition focused on charting the future of aerospace

A facility in downtown Albuquerque for aerospace startups, a new assembly building at Spaceport America, the potential for thousands of new jobs and money for startups.

However, there's no way to fund all these ambitions — yet.

That’s the predicament the New Mexico Space Valley Coalition finds itself in after missing out on a significant portion of federal funding. But even without the money necessary, the coalition remains committed to growing the state’s aerospace sector.

It’s not like the coalition is starting from scratch. The organizations — NewSpace New Mexico, New Mexico Spaceport Authority, New Mexico International Trade Alliance, CNM Ingenuity, Central New Mexico Community College and the City of Albuquerque — submitted a comprehensive second-phase proposal which was in the running for up to $100 million from the federal government.

While the U.S. Economic Development Administration didn't select the proposal for a second round of financing, Monica Mitchell said the coalition is pressing on with its efforts to promote the aerospace industry in New Mexico.

"Nothing has changed about the transformative growth trajectory of the space sector," said Mitchell,  who is the deputy director of the City of Albuquerque's Economic Development Department. "The Space Valley Coalition remains focused on making New Mexico the active leader in the growth of the sector."

The coalition's proposal contained six parts, each spearheaded by different coalition members. These included:

The Space Valley Center was the largest part of the proposal. It carried a $50 million price tag and would require the collaborative efforts of each coalition member. According to the proposal, the center would contain large conference rooms, meeting rooms, workshop and laboratory space and a shared business incubator.

City property at the corner of Third Street and Marquette Avenue in downtown Albuquerque would become home to the Space Valley Center, Mitchell said. Since the city owns the lot — across from the Civic Plaza — groundbreaking could happen right away, she said.

But there's the matter of financing the projects, which could create over 3,000 jobs within the next 10 years and generate around $540 million in economic growth.

Without the $100 million from the federal government, individual coalition members have to find ways to finance their respective projects.

Kathy Foster, whom the coalition hired using some of the $500,000 it received from an initial application, along with the City of Albuquerque are spearheading some coalition-wide efforts.

"Sometimes when things don't get funded they go away," Foster said. "That's not our goal. We're going to keep the momentum and keep going."

Mitchell said some "exciting announcements on the horizon" could continue that momentum, but she declined to disclose any specifics about where the coalition will look for financing. 

"Collectively, we are working on new regional branding and fundraising initiatives," Mitchell said. "We are actively looking at additional funding."

The federal process did provide the coalition with some important feedback, which came in the form of comments from the U.S. EDA last on Sept. 29. The agency highlighted several positive aspects, including the size of the coalition, its focus on diversity, equity and inclusion and the number of businesses and organizations across New Mexico that support the effort.

There's also the knowledge that New Mexico is a good home for the aerospace industry, Mitchell said. Weather conditions, sparse population density, existing research institutions and state and local government support all contribute to private aerospace business growth, she said.

"I see a future of possibilities for all of our citizens," Mitchell said. "I think that it's really exciting, not only as somebody in economic development but as a mom and as a citizen."