AGP Executive Report

Data Center Debate: Oracle and OpenAI’s proposed Project Jupiter drew protests in Doña Ana County over water, air quality and power use. State officials say projects must protect local resources and ratepayers, as some New Mexico counties consider data center moratoriums. Meta Judgment: A New Mexico judge ordered Meta to pay $25 billion over privacy violations. The company plans to appeal; Attorney General Raúl Torrez says AI companies could face future scrutiny. Energy Costs: State regulators are moving toward a formal investigation of unusually high PNM bills, a concern for households and businesses. Growth and Connectivity: New Mexico ranked seventh nationally for job growth, while a rural broadband co-op signed the state’s first federal BEAD construction agreement.

Meta Verdict: A New Mexico judge ordered Meta to pay $25 billion over misleading privacy claims. The company plans to appeal, and outside lawyers could collect up to $1.27 billion if the award stands. Attorney General Raúl Torrez says his office will also scrutinize AI companies’ data practices. Data Center Debate: New Mexico is courting major projects with tax breaks and training support, but concerns over power, water and infrastructure are fueling local resistance. Grant County approved a one-year moratorium, while delays and grid constraints are also complicating projects such as Project Jupiter. Business and Infrastructure: State regulators are moving toward a formal investigation of unusually high PNM bills, a key cost issue for households and employers. Meanwhile, a rural broadband cooperative has signed its first federal BEAD construction agreement, advancing efforts to expand connectivity. Local Enterprise: Santa Fe native Annisah Gianardi has brought Silicon Valley experience home, building a marketing firm focused on helping New Mexico businesses grow.

Data Center Pushback: Grant County approved a one-year moratorium on data centers and supporting infrastructure, while Project Jupiter’s air-quality hearing in Sunland Park is set for Dec. 7. Developers face rising costs, grid delays and growing local scrutiny. Meta Judgment: A judge ordered Meta to pay New Mexico $25 billion over misleading privacy claims; the company plans to appeal. Outside lawyers could collect up to $1.27 billion if the award stands. Agriculture: New World screwworm cases have spread across several New Mexico counties, and the state veterinarian warns the livestock threat could persist for years. Jobs and Utilities: New Mexico ranked seventh nationally for job growth, as regulators move toward an investigation of unusually high PNM bills. Infrastructure: The state signed its first federal broadband funding agreement, and an $18 million grant will upgrade Albuquerque railroad track. Local Business: Balloon Fiesta drew about 900,000 visitors, bringing a boost to local businesses.

Jobs and Growth: New Mexico added 11,200 jobs over the past year, ranking seventh nationally with 1.3% growth. Construction and mining led gains, while private employers added 8,400 jobs. Meta Judgment: A New Mexico judge ordered Meta to pay $25 billion after a jury found more than 43 million privacy-law violations. The state’s outside lawyers could receive up to $1.27 billion, adding to the case’s business and legal stakes. Power Bills: Regulators are investigating sharp summer bill increases, starting with complaints in Otero and Lincoln counties. The roughly 120-day review will examine billing practices and test a sample of meters. Data Centers: Project Jupiter’s air-quality hearing is set for Dec. 7 in Sunland Park, as Grant County moves ahead with a data center moratorium. The debate puts local power costs and pollution concerns in focus. Broadband: New Mexico has signed its first federal BEAD broadband agreement, marking a step toward rural network construction.**

Jobs: New Mexico added 11,200 jobs over the past year, ranking seventh nationally with 1.3% growth—more than four times the U.S. rate. Construction and mining led gains. Flood Recovery: Flooding has damaged homes, roads and public infrastructure across San Juan and Cibola counties, prompting emergency declarations and evacuations as local governments seek outside help. Utility Bills: Regulators are launching a roughly 120-day investigation into sharp PNM bill increases, starting with complaints in Otero and Lincoln counties and examining whether customers were overcharged. Meta Judgment: A New Mexico judge ordered Meta to pay $25 billion for consumer-law violations tied to misleading claims about Facebook privacy and safety. Meta plans to appeal; outside lawyers could collect up to $1.27 billion. Business Infrastructure: New Mexico signed its first federal broadband funding agreement, advancing rural internet construction, while an $18 million grant will upgrade Albuquerque railroad tracks. Agriculture: Officials confirmed another New World screwworm case in Hidalgo County, raising concerns for livestock producers as surveillance expands.

Corporate Accountability: A New Mexico judge ordered Meta to pay $25 billion over Facebook privacy violations. Meta plans to appeal; if the award stands and is collected, the state’s outside lawyers could receive up to $1.27 billion under their contract. Transportation Investment: Albuquerque secured an $18.5 million federal grant to upgrade six miles of rail near the Sunport, improving freight access for nearby businesses and industrial sites. Energy Business: Permian Basin operator EON Resources reported second-quarter revenue up 40% year over year and a 77% narrower net loss as it prepares further development in New Mexico. Utility Oversight: State regulators ordered an investigation into PNM billing complaints, including reports of unusually high bills in Otero and Lincoln counties. Rural Broadband: Kit Carson Electric Cooperative signed New Mexico’s first federal BEAD grant agreement, funding fiber connections to nearly 4,000 homes, businesses and public institutions.

Meta Ruling: A New Mexico judge ordered Meta to pay $25 billion after a jury found more than 43 million consumer-protection violations tied to Facebook privacy claims. Meta plans to appeal; the state says it will direct the money to public education. Broadband Buildout: New Mexico signed its first federal BEAD grant agreement, set to connect nearly 4,000 homes, businesses and community institutions in the north. Balloon Fiesta: The event drew 900,000 visitors, up 50,000 from last year, boosting local businesses. Restaurants reported record sales; the latest available impact estimate, from a comparable year, was about $220 million. Utility Oversight: State regulators ordered an investigation into PNM billing complaints after residents reported unusually high electricity charges, especially in Otero and Lincoln counties.

Meta Ruling: A New Mexico judge ordered Meta to pay $25 billion after a jury found more than 43 million consumer-protection violations tied to Facebook privacy claims. Meta plans to appeal, leaving the record penalty—and its impact on the state’s business climate—uncertain. Tech Investment: New Mexico’s first Tech Week runs Oct. 26–31, as venture investment in the state reportedly climbs 50% year over year. The event will spotlight quantum computing, energy, aerospace and startups. Data Center Strain: Limited cable-making capacity and power-grid constraints are slowing data center projects. Oracle has cited power-supply concerns at a planned New Mexico site, underscoring a challenge for the state’s push to attract technology investment. Business Growth: Franchisees signed a 14-unit deal to bring Swig locations to Albuquerque and Santa Fe, with the first planned for summer 2027. Amazon is also hiring 1,400 seasonal workers in New Mexico.

Meta Judgment: A New Mexico judge ordered Meta to pay $25 billion after a jury found more than 43 million violations of state consumer-protection law. The company plans to appeal. The ruling landed as Meta reported $64.6 billion in quarterly revenue, while a separate multistate settlement cut profits. Livestock: Officials confirmed New Mexico’s first reported New World screwworm case in a beef cow in Otero County. A 12.4-mile control zone requires livestock inspections and treatment before animals can be moved. Water Costs: EPCOR is seeking a rate increase that could lift a typical Clovis household’s base bill about 9%; the company says rising costs and more than $47 million in local investments drive the request. Jobs: Amazon is hiring about 1,400 seasonal workers in New Mexico, with pay starting at $20 an hour. Local Business: Marble Brewery plans to close its Northeast Heights taproom by year’s end, citing unsustainable rent; eight workers are affected. Aviation Innovation: Reliable Robotics completed its first autonomous flight tests at Albuquerque’s Sunport, with a remote pilot supervising a cargo plane.

Ranching: USDA is changing its cash cattle reports to improve price transparency as negotiated sales shrink, a shift with implications for New Mexico’s cattle industry. Jobs: New Mexico’s unemployment rate was 4.7% in September. Separately, a Los Alamos scientist’s AI materials startup plans to bring 80 jobs to Nambé Pueblo. Power Costs: Some New Mexico customers have reported PNM bills of up to $1,700, and regulators are being urged to investigate the utility. Data Centers: Oracle has cited force majeure amid delays and local opposition to Project Jupiter in New Mexico, highlighting challenges facing a major AI infrastructure project.

Utility Bills: New Mexico regulators are considering an investigation after PNM’s estimated bills reached as high as $1,700 for some customers. The utility cited a shortage of meter readers. State Spending: Four major state computer projects are now $456 million over budget, with delays stretching years, a Legislative Finance Committee report found. New Jobs: Los Alamos scientist Saryu Fensin’s AI materials startup, Discovery 2 Scale, plans to create 80 jobs at its Nambé Pueblo facility, backed by $500,000 in state funding. Advanced Aviation: Reliable Robotics raised $115 million and demonstrated an autonomous cargo plane at Albuquerque’s Sunport, part of plans to connect Albuquerque with Santa Fe and Durango. Retail: Albuquerque-based American Home Furniture is closing after nearly 90 years, months after filing for bankruptcy. Insurance: Insurers declined to renew more than 6,200 New Mexico homeowners’ policies in 2025, a record and nearly triple the 2021 count, raising concerns about coverage in fire-prone communities.

AI Infrastructure: Power remains a bottleneck for Oracle’s Project Jupiter in New Mexico. Morgan Stanley warns delays at Oracle data centers could defer revenue and cash flow, adding to concerns about debt and the pace of AI investment. Childcare & Manufacturing: Mission Driven Finance bought the Los Alamos property housing Bilingual Montessori Daycare; former owner Columbus Capital says reliable childcare helps attract and retain the workforce tied to Los Alamos National Laboratory. Navajo Technical University will also receive part of a $9.5 million federal grant for tribal manufacturing training. Housing & Small Business: Albuquerque is among 14 cities receiving $450,000 to $750,000 from Bloomberg Philanthropies to expand proven housing programs. Rio Rancho has opened a Small Business Development Center, adding support for local entrepreneurs. Business Oversight: New Mexico regulators proposed a $46,000 penalty against a Farmington concrete operator over alleged unpermitted expansion. Meanwhile, utility regulators have cleared the way for hearings on PNM’s proposed acquisition to continue.

Data Center Watch: Power remains a key bottleneck for Oracle’s Project Jupiter in New Mexico. Morgan Stanley warns delays at Oracle data center projects could defer revenue and cash flow, adding to concerns about the company’s debt. Housing Growth: Albuquerque is among 14 cities receiving $450,000 to $750,000 from Bloomberg Philanthropies to adapt proven housing initiatives, including faster permitting and teams to unblock stalled projects. Childcare Investment: Columbus Capital sold the Los Alamos property housing Bilingual Montessori Daycare to Mission Driven Finance, saying access to childcare helps attract and retain workers. Water Savings: New Mexico’s LeakTracer initiative uses satellite data, AI and field inspections to help utilities find underground leaks and conserve supplies. City Costs: The state ended Albuquerque’s freeway cleanup contract and is taking over the work; the city said the latest annual contract cost $2 million as litter and encampment cleanup needs grew.

AI Infrastructure: Morgan Stanley warns power delays could push back Oracle revenue and strain its finances; power supply is also a bottleneck for Project Jupiter in New Mexico. The challenges add to growing scrutiny of data center plans and their costs. Business Expansion: SCWorx signed a data-management deal with a healthcare system serving New Mexico and three neighboring states. Greybull Stewardship’s purchase of El Paso-based Mid-West Textile includes plans to expand Thrift Town, which has an Albuquerque store. Agriculture: Santa Teresa handled 1,150 feeder cattle in a recent report, about 45% of the total arriving through two operating border crossings. Prices rose, though screwworm concerns continue to cloud the market’s recovery. Connectivity and Workforce: New Mexico awarded $26.9 million for northern broadband, signed its first BEAD project contract and reports that its Workforce GRO initiative has trained 8,400 residents.

AI Investment: Morgan Stanley warns power delays at Oracle’s data center projects, including New Mexico’s Project Jupiter, could push back revenue and cash flow while adding pressure to debt. Governor’s Race: In final appeals before Nov. 3, Gregg Hull is pitching an income-tax cut, while Deb Haaland backs expanded tax credits and clean-energy investment as ways to address affordability. Workforce and Infrastructure: Voters will decide on GO Bond 3, which would provide $351 million for public colleges and universities, including $3 million for upgrades at UNM-Los Alamos. The state has also awarded $26.9 million for northern New Mexico broadband, and signed its first BEAD project contract. Aerospace Research: Virgin Galactic and Kirtland Air Force Base’s Air Force Research Laboratory will work together for 24 months to collect atmospheric data, supporting research with potential benefits for communications, navigation and other infrastructure.

Data Centers & Debt: Wall Street analysts warn power delays at Oracle’s Project Jupiter in New Mexico could defer revenue and strain debt payments, sharpening questions about the campus’s power needs and economic payoff. Retail Growth: Albuquerque’s South Valley has grown into a 93-acre retail hub with about 40 businesses; Texas Roadhouse and other stores are on the way. Workforce Investment: Rio Rancho’s chamber backs General Obligation Bond 3, which would provide $15 million for CNM’s proposed technical innovation and entrepreneurship center without raising property tax rates. Jobs & Connectivity: A robotics-driven company plans to bring 80 jobs to Nambé Pueblo, while a new fiber project aims to expand high-speed internet in underserved communities. Housing: The state Office of Housing is seeking $97 million as it details a mismatch between affordable housing supply and need.