Creating local jobs by promoting the capacity, quality and cost effectiveness of New Mexico’s software development industry to the rest of the U.S.
Nearly 1300 software jobs have been created in New Mexico just since 2014. We have an opportunity to create many more new software jobs through an initiative to make New Mexico known as the best value for software development in the U.S. This effort will leverage New Mexico’s skilled tech talent workforce and low cost of doing business, to bring contracts to New Mexico and allow local software development firms to create high-paying software jobs in our state. Successful models for this software industry marketing strategy include New Mexico True and Visit ABQ efforts.
Tentatively dubbed DART, an initial group including the New Mexico Technology Council, City of Albuquerque Economic Development Department, NMSU, Arrowhead Center, CNM, CNM Ingenuity, UNM, FatPipe ABQ, Ingenuity Software Labs, Realtime Solutions, New Mexico Tech, Air Force Research Labs, UNM Taos, 11Online, Kosh Solutions, Aviata, Innovate + Educate, and other team members are working to move this effort forward. Many additional stakeholders will be joining this initiative as well.
Macro trends point to perfect timing for New Mexico to take advantage of the convergence of surging demand and salaries for software developers, the relatively low cost of doing business in New Mexico, and a growing desire for companies to domestically source their projects with U.S. companies instead of sending contracts overseas.
Software jobs in New Mexico are growing at 1000% the rate of other jobs, with a 15% growth rate vs. just 1.5% growth since 2014 for all jobs created. With average salaries of over $86,000 in New Mexico, every software job created is akin to creating several average jobs. Software jobs have an outsized effect on the economy and on families in New Mexico.
Software development jobs are projected to grow 31%+, by more than 300,000 jobs, over the next ten years. New Mexico represents a 25% lower cost opportunity than the national average for software talent; therefore, timing is perfect to launch a funded, sustained initiative to let companies and agencies outside the state know about the talent and value they can find when contracting with firms here in New Mexico.
A career in software development (coding) is more accessible than ever for New Mexicans. Programs such as CNM's Deep Dive Coding bootcamps, and New Mexico Universities' Computer Science programs are changing the face of technology in New Mexico by producing a more diverse tech talent ecosystem. Jobs in software development allow traditionally disadvantaged populations to increase their earning potential, often in a flexible, location-independent position.
Software developers currently enjoy a less than 2% unemployment rate nationwide and in New Mexico. Software jobs have an outsized effect on the economy and on families – especially for women and people of color. Salaries for software developers are 94% higher than the average salary in Albuquerque, so each software job created is akin to creating several average jobs.
The relatively low cost of doing business with software firms in New Mexico is a great value for companies in expensive metropolitan areas around the country.
As an example of the potential for many of our residents, the diverse graduates of the Deep Dive Coding bootcamp enjoy higher incomes across the board.
IT outsourcing is a $64 billion industry. Software development outsourcing accounts for $41 billion annually. (from statista.com)
There has been a 15% increase in software jobs in New Mexico (vs. only 1.5% increase in all jobs) since 2014. This equates to a >$116 million increase in personal income for New Mexico software jobs since 2014
Changing the face of software development in New Mexico to better reflect our diverse population.
New Mexico is the best value in the U.S. for software development due to the increasing cost of tech talent in other cities. New Mexico offers quality, on-time delivery of software development from much more affordable talent. And the word is getting out: Facebook recently provided 32 scholarships for Deep Dive Coding Bootcamps™.
New Mexico already has over 100 software develoment firms and growing, with thousands of software professionals available to provide services to out-of-state companies and agencies.
As software development costs continue to skyrocket throughout the U.S., companies and agencies are ready for an affordable alternative. New Mexico will help solve that need with lower business costs and qualified local software firms.
To persuade out-of-state companies and agencies to contract with and hire New Mexico software development firms.
Similar successful models include the New Mexico True and NM Film campaigns. A web portal will serve as the ‘front door’ to NM’s software development industry. Helping attract revenue from out-of-state will create high-paying jobs and encourage local software developers to remain in New Mexico.
