New Mexico business leaders urge lawmakers to keep job fund

ALBUQUERQUE, N.M. (AP) — A coalition of New Mexico business leaders is urging state lawmakers to keep intact a closing fund to help recruit businesses to the state amid a looming special session and budget shortfall that is threatening various departments.

In a letter sent Thursday, the New Mexico Coalition for Jobs asked key lawmakers not to place Local Economic Development Act money into the state's general fund over fear such a move would hurt investment

"Sweeping LEDA funds back to the General Fund would put at risk several significant job creation projects actively considering investment in communities throughout New Mexico and for which the administration has pledged well more than half of the dedicated funds," the business leaders write.

Local Economic Development Act funds have been used to convince Ohio-based Safelite AutoGlass to bring 900 jobs in Rio Rancho and to build a drinking water well in the booming border town of Santa Teresa.