"I used tax cuts to help create over 80,000 jobs in New Mexico."
Bill Richardson on Thursday, May 10th, 2007 in a TV Ad.
Richardson takes credit for new jobs
As our friends at FactCheck.org note in this article , Richardson has consistently cited the higher number, even when the actual number was lower.
For our ruling, however, we'll rely on the current 75,800 and call it mostly true.
It's difficult to calculate how big a role his tax cuts played in getting businesses to create those jobs.
James Peach, an economics professor at New Mexico State University, said many factors make a company decide to add jobs and that tax incentives often play only a modest role. Indeed, much of the job growth in the state began before Richardson became governor, Peach said.
Still, Peach said Richardson's tax incentives and income tax cuts have created a favorable atmosphere for business that is a stark change from the state's mentality in the mid-1970s, when state officials refused to provide help to a promising young company named Microsoft.
"The climate here has changed considerably since then," Peach said. "Bill Richardson has been a big part of that. He's not the whole story, but he's been a big part of it."
Published: Wednesday, August 1st, 2007 at 12:00 a.m.
Sources:New Mexico Department of Labor, June 2007 Employment News Release
New Mexico Governor's Office, Governor announces fourth year of tax cuts
Albuquerque Journal, New Mexico Rising: The new jobs appearing in the state pay better than previous years, April 26, 2007
Interviews: James Peach, New Mexico State University; Gabriel Sanchez, University of New Mexico; Lee Reynis, Director of the Bureau of Business and Economic Research, University of New Mexico, Gerry Bradley, NM Voices for Children.
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