These Top Industries in New Mexico Are Powering the Economy

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New Mexico’s pro-business environment and commitment to fostering a diverse economy have fueled the recent success of several key industries. Here’s a look at what’s happening with the top industries in New Mexico. 

Advanced Manufacturing 

New Mexico boasts a robust manufacturing sector, empowered by a highly skilled workforce of over 180,000 experienced advanced manufacturing employees. Items produced within the state range from appliances and furniture to textiles and petroleum. Major manufacturing companies with operations here include Boeing, Geobrugg, Georgia-Pacific and Intel. 

Aerospace and Defense 

New Mexico has a formidable history with the aerospace industry, including the establishment of Spaceport America, which serves as the nation’s first purpose-built commercial spaceport facility. The aerospace sector also has many in-state entities devoted to aviation research, including the Air Force Research Laboratory. Along with aerospace, the defense industry has a powerful presence in New Mexico that is represented by Cannon, Holloman, and Kirtland Air Force bases and White Sands Missile Range, among others. 

Business, HQ, Support and Sales 

The state offers several advantages for support and customer service operations and headquarters, including a workforce pipeline that features nearly 30% of the adult population who speak both English and Spanish. New Mexico also has a mild year-round climate with few severe weather instances, so rough weather rarely impacts operational uptime. Companies with support and customer service operations in the state include names like Allstate, Blue Cross and Blue Shield of New Mexico, Canon, Gap, General Dynamics, U.S. Bank, Verizon and Wells Fargo. 

Emerging Technologies 

Companies in New Mexico have access to many R&D facilities throughout the state, including national research facilities along with research centers at most universities. To help startup companies, more than 20 venture capital firms are set up to invest in entrepreneurs and their enterprises, and over 30 incubators and accelerators are in place to help new companies launch their technologies. 

Energy & Natural Resources 

New Mexico is a top producer of oil and natural gas – second among states for oil and 10th for natural gas. There are over 150 oil and gas companies, and the state is home to three major oil refineries in Artesia, Lovington and Gallup. New Mexico is also at the forefront of energy innovation involving solar, wind, hydroelectricity, geothermal energy and biofuels. By 2045, the state has pledged to have net-zero carbon emissions. 

IT & Data Centers 

Companies in the fields of information technology, data centers and quantum computing are choosing New Mexico as a prime location for business expansion for several compelling reasons. For example, the state’s electricity rates are about 15% below the national average. So, tech talent can pursue careers in areas such as artificial intelligence, cybersecurity, supercomputing, big data and imaging. Major IT firms and data centers in New Mexico include Abba Technologies, BigByte.cc, Hewlett Packard, Meta, TEKSystems and more. 

Logistics, Warehousing and Distribution 

New Mexico has fashioned a well-deserved reputation for getting things where they need to go, with a strong transportation network that includes three interstates, two Class I rail carriers and 64 airports. Superior transportation access has allowed New Mexico to attract several warehousing and distribution companies, including Amazon, J.H. Rose Logistics, Menlo Logistics (XPO) and Omega Trucking. 

Value-Added Agriculture 

Agriculture and a thriving food production industry contribute more than $1.5 billion annually to the state’s economy. The state is a leader in the production of dairy products, cattle and calves, pecans, hay, onions, chile peppers, cotton, corn, wheat and sorghum. Nearly 21,000 separate farms operate in the state, and well-known food manufacturing companies include Bimbo, Bueno, General Mills, Leprino Foods, Mission, Shamrock Foods and Stampede Culinary Partners.