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State officials say a new Technology and Innovation Office within New Mexico’s Economic Development Department is expected to advance economic growth in the state and provide funding for startup companies.

, sponsored by Rep. Meredith Dixon during the most recent legislative session, establishes the Technology and Innovation Office, as well as the Research, Development and Deployment Fund with more than $90 million appropriated to support early tech businesses; match funds for research and development; support recruitment and retention; and boost New Mexico’s quantum technology sector.