State Spotlight: New Mexico
One-size doesn’t fit all. New Mexico is home to more than 2 million people and over 500 exporters, all with different needs. The U.S. Commercial Service Trade Specialist who covers New Mexico, collaborates with clients to meet those needs by identifying which services put companies in the best position to increase international sales. Queen works closely with the Navajo Nation and the 8 Northern Pueblos of New Mexico, along with other companies throughout the area. As the COVID-19 pandemic started hitting the United States, RAISE Research (a research service managed out of the Fargo-based Rural Export Center) rolled out to rural companies nationwide, providing an alternative to travel and trade events. Customized research helps companies rank global markets and find potential partners. New Mexico companies have participated in a wide range of programming as a result of RAISE Research.
CDS Lighting, an electrical system and lighting company based in Albuquerque, New Mexico, had limited export experience but saw the potential for growth by pursuing an export market for their unique Southwest and Native American-inspired lighting designs. They started with a Matrix to determine which market held the highest likelihood of success. With a luxury product, the Matrix led CDS to countries with higher disposable incomes and affinities for luxury goods. Two of the countries scoring high in the Matrix, Germany, and Japan, historically are interested in Native American culture.
“I love the information that was provided and I have a lot of reading to do,” said Michael Baker, owner of CDS Lighting. “With the research information that has been given to me, it will make the company expansion so much easier.”
While other international sales have been facilitated through third parties, CDS Lighting is now in a position to control its own export destiny.
CDS Lighting chose research that fit their specific needs. Other NM companies using RAISE opted instead to focus on finding potential buyers right off the bat. The Potential Partner List (PPL), part of RAISE Research, has been particularly popular in New Mexico. The PPL gives companies just a list of contacts and some very top-level trade data. Companies can immediately determine who the main players are in their niche in two countries. These have been particularly well received by smaller companies that are focused on connecting with buyers in consumer-oriented industries.
All of the companies in New Mexico that requested RAISE Research used STEP money to offset the cost, with the support of the New Mexico Trade Alliance. As travel has opened up, some companies have moved ahead with signing up for trade events, like the U.S. Commercial Service’s signature annual Trade Mission – Tradewinds. The Tradewinds trade mission travels to new regions each year, with this year focused on the Middle East markets. The New Mexico companies that had market potential in the Middle East, as confirmed by RAISE Research, participated in Trade Winds Middle East in 2022.
Other New Mexico RAISE Research participants continue to work with USCS New Mexico to build relationships with overseas U.S. Commercial Service offices to find partners. With the support of the USCS, companies all across the state are approaching exporting with renewed confidence.
If you are a New Mexico company interested in export assistance, click here.