Awarepreneurs - #1036: Awarepreneurs interview - Lawrence Chavez

🔖 Titles

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1. Unlocking Abundance: How New Mexico’s Permanent Fund Could Transform the State’s Future 2. Scarcity Mindset to Bold Investment: Rethinking New Mexico’s $67 Billion Permanent Fund 3. Investing in New Mexico’s Future: Opportunities and Barriers in the Permanent Fund Debate 4. From Rainy Day Fund to Opportunity Engine: Imagining a New Mexico Abundance Economy 5. Why New Mexico’s Permanent Fund Isn’t Reaching Its People—and What Needs to Change 6. Bridging the Gap: Startup Challenges and Investment in New Mexico’s Economic Landscape 7. The Future Is Now: Leveraging the Permanent Fund to Reverse New Mexico’s Brain Drain 8. Scarcity, Innovation, and a Multibillion Dollar Question for New Mexico’s Next Generation 9. How Mindset and Risk Could Reshape New Mexico Through Strategic Investment 10. Reimagining Economic Development: Lessons from New Mexico’s Permanent Fund and Other Bold States

💬 Keywords

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New Mexico Permanent Fund, sovereign wealth fund, New Mexico economy, scarcity mindset, abundance mindset, state investment council (SIC), venture capital, startup ecosystem, economic development, oil and gas revenues, infrastructure investment, education funding, rural economy, capital access, public-private partnerships, quantum technology, space industry, clean tech, Arizona economic strategy, Texas economic development, Maryland quantum investment, entrepreneurship, New Mexico government, innovation, funding programs, GDP per capita, brain drain, legislative advocacy, return on investment (ROI), financial stewardship

💡 Speaker bios

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**Paul Zelizer** is the host and founder of AwarePreneurs, the world's longest running social entrepreneur podcast. With a passion for helping social entrepreneurs thrive, Paul creates conversations that support this unique community, bringing in guests who are innovators and leaders in purposeful business. Through his podcast and platform, Paul has helped amplify the stories and insights of changemakers from around the world, making a positive impact on the landscape of social enterprise.

ℹ️ Introduction

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Welcome to another inspiring episode of Awarepreneurs! Today, host Paul Zelizer sits down with Lawrence Chavez, longtime New Mexico entrepreneur, investor, and innovator, for a thought-provoking conversation about “Scarcity, Abundance, and New Mexico’s Permanent Fund.” Lawrence brings a unique dual perspective to the table, having spent over 20 years both building startups and investing in early-stage businesses across New Mexico. Together, Paul and Lawrence explore the fascinating—and often surprising—story behind New Mexico’s massive $60+ billion permanent fund. Despite being the third largest in the U.S. (and among the top 25 worldwide), this enormous resource often goes unnoticed by everyday New Mexicans, with much of it invested outside the state. In this episode, Lawrence unpacks why, even with all this wealth, so many New Mexicans don’t feel its impact. He shares the history and structure of the permanent fund, the legacy of scarcity thinking embedded in local institutions and culture, and his bold vision for using these resources to supercharge the state’s economic future. Lawrence challenges listeners to think big: What if New Mexico became a top 10 state for per capita income? What if significant chunks of the fund were strategically invested in infrastructure, education, and key industries like space technology, quantum, and cleantech—right here at home? Along the way, you’ll hear enlightening comparisons to places like Arizona and Texas, candid insights into the realities of local investing, and actionable ideas for entrepreneurs, investors, and everyday citizens who want to help move New Mexico from a scarcity to an abundance mindset, and from potential to prosperity. Whether you’re fascinated by innovative economic thinking, curious about the hidden power of public investment, or passionate about a more abundant future for New Mexico, this episode will leave you energized, informed, and ready to imagine what’s possible.

❇️ Key topics and bullets

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Certainly! Here’s a comprehensive sequence of topics covered in the Awarepreneurs episode featuring Lawrence Chavez, with sub-topics detailed under each primary topic: --- ### 1. Introduction to Awarepreneurs & Guest Background - Brief overview of the podcast and its mission - Introduction of Lawrence Chavez: experience as entrepreneur and investor - Highlighted roles: CEO of Everyday Context, co-founder of Lotus Leaf Coatings, venture partner with Flywheel Ventures, manager of New Mexico Gap Fund, and board memberships --- ### 2. Dual Perspective: Entrepreneur and Investor in New Mexico - How Lawrence’s combined experience shapes his views on New Mexico’s economy - The challenges of raising capital as a startup in New Mexico - The importance of empathy for founders and the responsibility of the broader community --- ### 3. Product-Market Disconnect Between VCs and New Mexico Startups - The diversity of venture capital (VC) focus areas (life science, deep tech, consumer products, etc.) - The mismatch between large VCs’ expectations and the early-stage needs of local startups - The importance of targeting the right type of VC and need for better alignment between state and investor interests --- ### 4. Economic Context: Unique Aspects of New Mexico’s Economy - Historical and cultural background influencing New Mexico’s economic behavior - Comparison to other regions and the continuity of Santa Fe as a center of power since the 1500s - Distinct legacy shaping modern economic systems and mindsets --- ### 5. The Permanent Fund: History, Structure, and Function - Brief history: land grant fund and Severance Tax Permanent Fund - The role of extractive industries (oil, copper, uranium, etc.) in building the fund - Management by New Mexico State Investment Council (SIC) - The fund’s size: over $60 billion, projected to $100 billion, and its status as the third largest in the US --- ### 6. Disconnect Between Wealth Accumulation and Societal Benefit - Lack of public awareness about the Permanent Fund among New Mexicans - Structural reasons for limited visible impact on current citizens - The concept of investing “for future generations” and questioning its current applicability --- ### 7. The Argument: “The Future Is Now” - Lawrence’s position that the current generation should benefit from the fund - Counterarguments involving the depletion of extractive resources - Proposing investment in infrastructure, education, and economic development as pathways to long-term sustainability --- ### 8. Strategic Recommendations for Utilizing the Permanent Fund - Advocating for significant, but not total, allocation of the Permanent Fund to proactive investments (e.g., 50%) - Setting ambitious state-level goals (e.g., top 10 in per capita income) - Need for holistic, 20–25-year strategies rather than one-off, diluted programs --- ### 9. Mindset Shift: From Scarcity to Abundance - The historical roots of scarcity mindset in New Mexico - Consequences of thinking there are limited resources and competition for them - Examples of the scarcity mindset in state policy and program design - Lessons from Arizona and other states with a more proactive, growth-oriented approach --- ### 10. Strategic Approach: Setting Goals and Reverse Engineering Success - The importance of defining big-picture targets for economic prosperity - Drawing parallels to the US moonshot program: setting clear goals, mapping out supporting systems and infrastructure - Advocating against short-term or haphazard solutions in favor of long-term strategic planning --- ### 11. Comparative Case Studies: Other States’ Bold Investments - Arizona’s public-private partnerships and pro-growth strategies - Texas, Maryland, and Illinois investments in tech, space, and quantum sectors - Contrast between New Mexico’s approach and more aggressive, well-funded initiatives elsewhere - Challenges of political cycles and institutional inertia --- ### 12. Barriers to Change and Call for Bolder Action - Warnings against missing future opportunities due to timidity or inaction - Risks of being left behind in national and global innovation races --- ### 13. Amplifying Voices: Lawrence’s Shift to Public Advocacy - Personal journey from inward-focused entrepreneurship to public activism - Frustration with repeated missed opportunities and calls for collective, vocal action --- ### 14. Engaging Stakeholders: Investors, Entrepreneurs, and Policymakers - Guidance for investors: honesty about intentions, meaningful local engagement - Recognition of positive models (e.g., Vamos Ventures) vs. “take the money and run” approaches - Importance of adjusting SIC incentives and balancing risk/return on opportunity - Encouragement for entrepreneurs to organize, connect, and advocate together - Legislative engagement and the limitations of a part-time legislature --- ### 15. Final Reflection and Call to Action - Emphasis on abundance mindset and the collective potential of New Mexico - Encouragement for individual citizens and leaders to voice support for bold, future-oriented use of the Permanent Fund --- ### 16. Contact and Further Resources - Lawrence’s contact information and invitation for feedback (including opposing viewpoints) - Directions to find Lawrence’s writing and related episode resources in the show notes --- If you need this sequence broken down with timestamps or tailored to another format, just let me know!

📚 Timestamped overview

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00:00 "Challenges of Raising Capital in NM"

04:34 "New Mexico's Unique Historical Legacy"

07:28 New Mexico Permanent Fund Origins

12:09 "Unseen State Wealth Uncovered"

14:17 "The Future is Now"

16:28 Reallocate Permanent Fund for Future

22:16 Path to Top 10 GDP State

23:16 "Setting and Achieving High GDP Goals"

29:04 Arizona's Tech-Driven Economic Success

32:10 States Racing for Quantum Leadership

36:02 New Mexico's Opportunity and Scarcity Discussion

37:11 Missed Opportunities in Clean Tech

40:26 Community Support for NM Startups

44:09 Investment Challenges in New Mexico

47:39 Rethinking SIC Return Incentives

51:35 Achieving Startup Critical Mass

54:31 Advocating for New Mexico's Future

🎞️ Clipfinder: Quotes, Hooks, & Timestamps

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Lawrence Chavez 00:01:27 00:02:20

Viral Topic: Challenges of Raising Capital in New Mexico: "New Mexico is a challenging environment to raise capital. As a startup founder, it's a challenging environment for businesses in general."

Lawrence Chavez 00:05:00 00:05:27

Viral Topic: How Historical Origins Shape Regional Identity: "So New York, you know, founded by the Dutch in the 1600s, is a trader class. And that has been the story of New York ever since then. Even though the Dutch were ran out, you know, 50 years later and, you know, became an English colony. It was very different than the English colonies in Massachusetts, which have a different type of thing, which are different from the colonies that that landed in the central coast of the eastern United States, so on and so forth."

Lawrence Chavez 00:07:48 00:07:58

Viral Topic: New Mexico’s Self-Sufficiency Origins
Quote: "The federal government said, you know, we want you guys to be self sufficient, so you guys need to have this permanent fund where you can utilize resources to put into this permanent fund as a state."

Lawrence Chavez 00:20:54 00:21:06

Scarcity Mindset and Community Growth: "The problem is we have the scarcity mindset. We think that again, just for the listeners, the scarcity mindset is quite simply there are limited resources and if you do better, then I'm going to do worse."

Lawrence Chavez 00:22:27 00:22:44

Viral Topic: The Race to a Top 10 GDP State
Quote: "By 2050, we're going to be a top 10, top 10 GDP state and then work our way back because the risk comes here is, should we invest in venture capital or early stage companies? Yes, but we don't have the infrastructure to support those companies as they grow, so they leave the state."

Lawrence Chavez 00:29:32 00:29:43

Viral Topic: The Importance of Stable Economic Development Policies
"So they have a public private economic development partnership so that the economic development arm of Arizona is not beholden to the whims of a given administration."

Lawrence Chavez 00:37:06 00:37:10

Viral Topic: Using New Mexico’s Permanent Fund
Quote: "Dale said something about it's a rainy day fund, it's raining, we should use it."

Lawrence Chavez 00:37:51 00:38:02

Missed Opportunities in Clean Tech: "We didn't invest in it significantly. Do we have some clean tech companies here? Yes, but we're not a national leader in clean tech, not by any stretch of the imagination. And we missed an opportunity then."

Lawrence Chavez 00:44:28 00:44:37

Viral Topic: The Reality of Venture Investments in New Mexico: "So there's 90% other LPs that they have a fiduciary responsibility to all those LPs to invest in the best deals, period, not invest in the best deals in New Mexico."

Lawrence Chavez 00:52:11 00:52:19

Access to Capital for Rural Communities: "We could change that dynamic for a lot of those, a lot of those rural communities just by changing the way we provide access to capital."

🎬 Reel script

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Today on Awarepreneurs, I had an inspiring conversation with Lawrence Chavez about New Mexico’s $60 billion-plus Permanent Fund. We explored why, despite this massive resource, everyday New Mexicans don’t feel its benefits—and how a scarcity mindset is holding the state back. Lawrence challenges us to think big: invest boldly in education, infrastructure, and local businesses to transform New Mexico’s future right now, not decades from now. If you believe it’s time to shift from scarcity to abundance and unleash New Mexico’s true potential, this episode is for you.

👩‍💻 LinkedIn post

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Absolutely! Here’s a LinkedIn post drawing directly from the Awarepreneurs interview with Lawrence Chavez, with three key takeaways: --- 💡 Reflections after listening to the powerful Awarepreneurs podcast episode with Lawrence Chavez on “Scarcity, Abundance, and New Mexico’s Permanent Fund”: It’s not every day you hear someone lay out both the untapped potential and the big challenges of state-level economic development so clearly. Lawrence’s insights on the disconnect between New Mexico’s massive $60+ billion Permanent Fund and the lived experience of its residents are timely and urgent. Here are three key takeaways for anyone interested in innovation, economic policy, or social impact: - **Mindset Matters:** Despite New Mexico’s enormous wealth through its Permanent Fund, decades-old “scarcity mindset” still limits bold action. Shifting the narrative from scarcity to abundance can unlock major opportunities for future generations. - **Strategic Investment, Not Short-Term Raids:** Lawrence isn’t calling for reckless spending, but for a holistic, strategic allocation of a portion of the fund—especially into infrastructure, education, and growing industries like cleantech and space—to change the state’s trajectory and keep talent local. - **Bold, Collective Action Needed:** States like Texas, Maryland, and Arizona are making billion-dollar, long-term bets on key sectors. New Mexico’s entrepreneurs, investors, and policymakers need to set big goals, collaborate across sectors, and commit to transformative, sustainable investment if we want outsized economic success. Lawrence’s call to action: Let’s realize that the “future is now.” If New Mexico is to move out of the bottom ranks economically, we need to think and invest much bolder—together. 🔗 Highly recommend checking out the full conversation (linked in the comments) and Lawrence Chavez’s article series for more on this important topic! #awarepreneurs #socialimpact #economicdevelopment #innovation #newmexico #abundance ---

🗞️ Newsletter

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**Subject:** Rethinking Abundance: Unlocking New Mexico’s Future with Its Permanent Fund --- Hi Awarepreneurs Community, We’re back with a thought-provoking episode that’s sparking real conversation: our host Paul Zelizer interviews Lawrence Chavez on **Scarcity, Abundance and New Mexico’s Permanent Fund**. **Episode Spotlight: Lawrence Chavez on New Mexico’s Hidden Wealth** Lawrence brings decades of experience as both a founder and an investor. In this episode, he opens our eyes to the staggering size of New Mexico’s Permanent Fund—a $60+ billion (and growing) resource—and the frustrating disconnect between that wealth and the day-to-day reality for most New Mexicans. **Why This Matters Right Now:** - **New Mexico is Rich (Yes, Really!)** Lawrence explains how the state, while often seen as economically challenged, is home to one of the world’s largest sovereign wealth funds. - **But Most Residents Don’t Feel the Impact** Shockingly, even many long-time residents have no idea the fund exists or how it might be utilized for community good. **Key Takeaways from the Conversation:** - **The Mindset Shift:** Our history in New Mexico has led to a scarcity mindset—protecting limited resources, fearing bold investments. Lawrence urges us to shift to an abundance approach: “At some point, the future is now.” - **Why the Fund Isn’t Transforming the State (Yet):** Most dollars are invested outside New Mexico, with only conservative allocations benefiting residents. Is it time to make bigger, bolder bets? - **What Could Change Look Like?** Imagine investing even a portion of the fund into infrastructure, education, and supporting local entrepreneurs. Lawrence envisions a New Mexico with world-class schools, thriving businesses, and top-tier economic rankings—all within reach. - **Action Steps:** Lawrence calls on all of us (entrepreneurs, investors, everyday citizens) to get informed, connect with each other, and ask more from our leaders. If Arizona and Texas can do it, why not New Mexico? **Related Listening & Resources:** - Want a political insider perspective? Check out our episode with Rep. Andrea Romero ([Episode 354](#)) – linked in the show notes. - Curious how innovative funds are making a difference? Listen to Maya Trujillo from Vamos Ventures ([Episode Link](#)). **Final Thought:** “Let’s set some big goals,” Lawrence says. “Let’s reverse engineer and find the path to a truly abundant New Mexico—starting with the courage to try.” --- **Let’s Keep the Conversation Going:** What surprised you most from Lawrence’s points? Do you have ideas for investing in community abundance? Hit reply or jump into our LinkedIn group to join the discussion! And as always, if today’s episode inspired you, please share it, leave a review, and help us bring bold social entrepreneurship to more people. With gratitude, The Awarepreneurs Team --- *PS: Want to connect with Lawrence or read his writing on this topic? Check out [lawrencechavez.com](https://lawrencechavez.com) and the links in our show notes!*

🧵 Tweet thread

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🚨 THREAD: What’s REALLY holding back New Mexico’s economy? A $67 BILLION question… and a call to action for abundance. 👇 1/ New Mexico has *one of the world’s largest* sovereign wealth funds per capita—a Permanent Fund worth over $67 BILLION. 💰 Yet most New Mexicans don’t even know it exists. 2/ Lawrence Chavez, a veteran entrepreneur & investor, joined @Awarepreneurs to ask: Why are everyday New Mexicans still struggling while we have such MASSIVE resources? 🤔 3/ Here’s the shocker: Most of the Permanent Fund isn’t invested in New Mexico! It’s managed conservatively, mostly to benefit “future generations.” But at what point does the future become *now*? 4/ “It’s like your family has millions in the bank, but you think you’re broke,” Chavez says. The truth: New Mexico is RICH—in dollars, but stuck in a SCARCITY mindset. 5/ Meanwhile, other states are using funds *boldly*: • Texas put $425M into its Space Commission • Maryland is investing $1B in quantum tech • Arizona is making big strategic bets that pay off 6/ New Mexico? $25M here, $25M there—small, one-off bets. Not enough to change the game. Other places are thinking BIG and LONG term. We’re still acting cautiously, and diluted efforts aren’t moving the needle. 7/ Want to see a future NM in the top 10 for GDP & per capita income? We need moonshot thinking—set bold goals (like landing someone on the moon), then reverse-engineer what’s needed: • Education • Infrastructure • Capital for startups • Support for rural entrepreneurs 8/ Scarcity mindset says: “If you get more, I get less.” Abundance thinking says: “We all win if we invest together.” It’s time to let go of old fears & tap our true potential! 9/ Lawrence’s call to action: ✨ Get informed about the Permanent Fund ✨ Demand bolder investment in NM’s future ✨ Speak up to your legislators—ask them: “Why isn’t this money changing lives HERE?” 10/ The resources are here. The opportunity is NOW. Will New Mexico lead in innovation, or will we be at another conference in 2040, wondering what went wrong? Let’s think bigger. Let’s act bolder. Let’s build an abundant New Mexico—together. 🚀 #NMTrue #AbundanceMindset #FutureIsNow #EconomicDevelopment #ImpactInvesting 🔗 Listen to the full convo on @Awarepreneurs & read Lawrence’s articles for more. — (Share your thoughts below ⬇️: What bold move should NM make with the Permanent Fund?)

❓ Questions

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Absolutely! Here are 10 discussion questions based on this Awarepreneurs episode with Lawrence Chavez: 1. **Scarcity vs. Abundance:** Lawrence talks about New Mexico’s “scarcity mindset” despite having one of the world’s largest sovereign wealth funds. What factors do you think drive this mindset, and how might it be shifted? 2. **History’s Influence:** How do New Mexico’s deep historical roots—specifically, its unique founding and longstanding center of power—impact its economic culture and approach to innovation? 3. **Knowledge Gaps:** Many New Mexicans, even highly educated ones, aren’t aware of the state’s Permanent Fund. How does this lack of awareness shape public conversation and policy? 4. **Permanent Fund Priorities:** The fund is managed conservatively with a long-term, future-generation focus. Do you agree with Lawrence that “the future is now,” or is it wiser to keep prioritizing future generations? Why? 5. **Strategic Investment:** If New Mexico were to invest more of its Permanent Fund in state-specific initiatives today, which sectors or industries do you think should be prioritized? What risks and rewards could accompany those choices? 6. **Role of Outside Investors:** Lawrence discusses the challenges and sometimes unmet promises of out-of-state investors. What strategies could New Mexico adopt to ensure investments deliver local impact? 7. **Learning from Arizona (and Others):** Arizona and other states have used bold, sustained economic development strategies. What lessons or cautions should New Mexico take from their approaches? 8. **Institutional Change:** How can New Mexico build public/private partnerships and institutional frameworks that persist beyond changes in political leadership? 9. **Entrepreneurial Voice:** Lawrence calls for New Mexico’s entrepreneurial and small business communities to speak with a “common voice.” What would an effective grassroots advocacy movement look like in this context? 10. **Measuring Success:** If, by 2050, New Mexico became a top 10 state in GDP per capita, what changes would you expect to see in education, infrastructure, business climate, and quality of life? What should New Mexicans watch for as indicators of progress? These should get a lively conversation going—if you want follow-ups or questions focused on a particular segment, let me know!

🪡 Threads by Instagram

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1. New Mexico is one of the wealthiest states—if you count the $60B+ permanent fund. But most residents don't feel that abundance. It’s time to rethink how we use our resources to serve today's generation. 2. If you always save for future generations, no generation ever benefits. What if the “future” is now, and bold investments in education, infrastructure, and innovation could change New Mexico’s trajectory? 3. Scarcity mindset holds us back. Abundance means sharing resources to lift everyone, not diluting impact. Imagine investing big in key sectors, not spreading seeds so thin nothing takes root. 4. States like Texas and Maryland are betting billions on future-focused industries. New Mexico could lead too—but it takes courageous thinking, not just cautious stewardship. 5. Our culture shapes our economy. New Mexico’s history is unique, but so is our opportunity. Together, we can shift from surviving to thriving—if we dare to dream and act bigger.

SEO Description Summary

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Innovator Lawrence Chavez joins Awarepreneurs to discuss scarcity and abundance mindsets in New Mexico, focusing on the state’s $60+ billion Permanent Fund. Discover why many residents don’t feel its benefits, ways to foster economic growth, and how a bold, future-oriented investment strategy could transform New Mexico’s economy for generations to come.

LinkedIn Thought Leader post

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1. What if the secret to transforming your local economy was already sitting in your state’s investment portfolio? How can social entrepreneurs inspire a shift from scarcity to abundance thinking in their communities? What would it look like to boldly deploy billions for real, measurable impact? These are just a few of the provocative questions we explored with Lawrence Chavez on the latest Awarepreneurs podcast episode, hosted by our very own Paul Zelizer. Paul facilitated a high-level conversation about New Mexico’s $60+ billion permanent fund, challenging “poverty mindsets” and inviting us into a bigger vision. As Paul put it: “New Mexico is an extremely rich state with a poverty mindset and the inability to access these funds to move our future forward.” One core takeaway: Now is the moment for visionary, holistic investment. Imagine using even a portion of these funds to catalyze education, infrastructure, and groundbreaking startups—not someday, but today. Paul’s approach? Reverse-engineer an abundant future: set bold goals (like making New Mexico a top-10 GDP state), then innovate public/private strategies to get there. As he says, “Let’s stop waiting for someone else—institutional or otherwise—to give us permission.” What opportunities can you unlock by shifting from scarcity to abundance? How are you advocating for bold investment in your own ecosystem? Chime in below, and catch the full episode for actionable insights on sparking statewide transformation. 2. Are we playing too small with our potential for impact? How do we move from incremental bets to bold, coordinated innovation? What would it take for your region to become a national leader in tech, clean energy, or education? I recently hosted Lawrence Chavez on the Awarepreneurs podcast, and our discussion pulled back the curtain on the untapped capacity sitting in New Mexico’s sovereign wealth fund—one of the largest in the world, and growing by billions each year. Lawrence and I dove into the paradox: an “abundance of capital held back by a scarcity mindset.” Together, we unpacked why leveraging large-scale public funds for coordinated, transformative investment isn’t just wishful thinking—it’s a strategic necessity. A standout insight from the episode: “We need to step up and make huge bets—some won’t pay off, but the ones that do can change our entire trajectory.” We highlighted how states like Texas and Maryland are already investing at scale in quantum and space technology—while New Mexico's $25M allocations, though appreciated, simply aren’t enough to make us globally competitive. My call to social entrepreneurs and impact leaders: Let’s model the mindset shift. Set moonshot goals. Collaborate across sectors. Bring policymakers, investors, and founders to the same table. Where do you see untapped abundance in your community? How might you help spark collaboration for impact at scale? Share your thoughts, and listen to the episode for a roadmap on moving from vision to action.

Key takeaways

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Certainly! Here are the **three key takeaways** from the Awarepreneurs episode with Lawrence Chavez, along with a representative quote for each point, matching the format and tone of your example: --- **1. New Mexico’s Scarcity Mindset Versus Abundant Resources** Despite New Mexico possessing one of the world’s largest sovereign wealth funds, the “scarcity mindset” remains deeply embedded in its institutions and culture—leading to underutilization of available resources for present-day development and prosperity. > “We are an extremely rich state with a poverty mindset and the inability to access these funds to move our future forward.” --- **2. The Permanent Fund: Enormous Opportunity, Limited Local Impact** The New Mexico Permanent Fund, valued at well over $60 billion and projected to reach $100 billion by the decade’s end, is invested almost entirely out of state, resulting in minimal direct benefit to the everyday lives and economic prospects of New Mexicans. > “The vast majority of that money is invested elsewhere. It’s not invested in [New] Mexico. And there’s a reason for that. And I think we should change that reason…” --- **3. A Call for Bold, Visionary Investment in New Mexico’s Future** Chavez advocates for New Mexico to set a transformational, measurable goal—such as becoming a top 10 per capita GDP state—and to boldly invest ample portions of the Permanent Fund in infrastructure, education, and business development within the state. This requires challenging the status quo, shifting mindsets, and building public will for systemic change. > “The idea is to take this huge amount of money, invest it in a holistic list of things: education, infrastructure...and then infrastructure across the board, invested in capital, invested in businesses...We could utilize that money to change the trajectory of our state.” ---

Leading question

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