This report from Prepared to Teach describes the creation of a cohesive statewide teacher preparation system in New Mexico. Building on extensive collaboration between state government entities and educator preparation programs in the state, New Mexico has become a prime example of a working shared vision for a well-prepared, diverse teacher workforce. The report describes the important role the state legislature and the New Mexico Public Education Department played in shifting the narrative around teacher preparation, coalescing around a shared vision for teacher preparation, and creating policies to align with the vision. It also describes the creation of a community of practice, through which residency programs co-constructed a New Mexico–specific, equity-focused residency framework to build a statewide system of pre-service co-teaching. Residency programs, policymakers, and other stakeholders interested in pursuing a similar vision in their states will find this case study helpful.