A big part of the working capital that helps New Mexico open its doors to families, invest in new projects and grow its workforce comes from long-term investments by life insurers. Our companies have invested $30 billion in New Mexico with bond purchases for affordable housing, education bonds, agricultural loans, retail mortgages and more. We are here to strengthen communities and families across the Land of Enchantment.
Investing in Affordable Housing
Life insurers have invested $121 million in recent years in
organizations promoting affordable housing in the state. This includes
$115 million in bonds issued by the New Mexico Mortgage Finance
Authority.
Investing in Education
The Albuquerque Municipal School District, the Taos School District,
the Aztec School District and others, along with New Mexico State
University and the University of New Mexico, have received financing
from life insurers. In all, the industry has purchased $67 million in
bonds in recent years issued by educational entities in the state.
Investing in Apartments/Multifamily
With $325 million invested today in mortgage loans for apartment
buildings and multifamily units in Albuquerque, Las Cruces, Santa Fe
and Gallup, life insurers are helping individuals and families call the
Land of Enchantment “home.”
Investing in Retail
One-quarter of the jobs in New Mexico are supported by the retail
industry, according to the National Retail Federation. Life insurers are
part of this employment story, providing retail mortgages totaling $110
million in the state.
Investing in Agriculture
Life insurers have provided $134 million in agricultural mortgage loans
in Roswell, Hobbs, Clovis, Deming and more towns and cities
throughout New Mexico.
Investing in Industry
The Land of Enchantment offers many things, including a strong
industrial base, which life insurers support. They have provided $343
million in industrial mortgage loans throughout New Mexico in recent
years.