$2.2B of New Private Investment and More Than 7,000 Jobs as Companies Move to NM. January 25th, 2021 – Over the past two years, private investment in New Mexico has blossomed. Thirty projects totaling nearly $2.2 billion of new monies has benefited a number of sectors and different parts of the state.
Is moving to New Mexico a good idea?
Compared to all other states, New Mexico ranks in the top half of both the most affordable states to live in and the state with the lowest average taxes paid per household. This makes it a state that isn’t overpriced and is reasonable in order to experience some of the other great things on this list.
Is New Mexico a good place for business?
NEW MEXICO (KRQE) – New Mexico ranked as the 18th best state to start a business in the United States, according to a new WalletHub study. The study compared the 50 states across 28 key indicators of startup success to find the best place to launch a business.
What is the largest employer in the state of New Mexico?
Federal Government
LARGEST EMPLOYERS IN NEW MEXICO
| Rank | Organization | Employees |
|---|---|---|
| 1 | Federal Government (see breakdown below) | 21766 |
| 2 | State of New Mexico (see breakdown below) | 18359 |
| 3 | Wal-Mart | 14022 |
| 4 | Sandia National Laboratories | 12206 |
What is the main industry in New Mexico?
New Mexico’s Economy
Tourism, military, and the oil and gas industry are the major industries in New Mexico. They provide most of the jobs and account for a large amount of the government spending in the state.
What is wrong with New Mexico?
New Mexico performed poorly in several categories including the highest percentage of the population living in poverty, lowest income growth, the lowest population aged 25 and older with a high school diploma or higher, and had the highest crime rate.
Is New Mexico running out of water?
“It could be 100 years, or 80 years, or 60 years — we’ve got a limited amount of water,” says Dave DuBois, New Mexico’s state climatologist. “We’ve got these long horizons, but that doesn’t mean we need to blow through that and then figure out what to do.”
How does New Mexico make money?
Oil and gas production, tourism, and federal government spending are important drivers of New Mexico’s economy.
Is Albuquerque a good place to start a business?
ALBUQUERQUE, N.M. —
According to a new study by WalletHub, Albuquerque is one of the top 100 cities to start a business.
How much does it cost to start a business in New Mexico?
Step-By-Step Startup
| Structure | Cost | Time |
|---|---|---|
| New Mexico Corporation Click for step-by-step instructions | Incorporation: $100 for up to $100,000 authorized shares + optional $100-150 expedite fee Initial Corporate Report: $25 | Incorporation: ~3 months. ~2 business days for $100 expedite fee. ~1 business day for $150 expedite fee. |
Is New Mexico a rich state?
New Mexico has a poverty rate of 16.2%. Nearly a quarter of the state’s children are living in poverty. Unfortunately, New Mexico’s public schools are ranked the worst in the U.S., with the second-highest dropout rates of any state. Only 73.9% of students in the state graduate on time.
What is the housing market like in New Mexico?
New-Mexico Housing Market Overview
In June 2022, home prices in New-Mexico were up 27.6% compared to last year, selling for a median price. On average, the number of homes sold was down 28.7% year over year and there were 234 homes sold in June this year, down 329 homes sold in June last year.
What is the biggest company in New Mexico?
Akal Security
Detailed List Of The 100 Biggest Companies In New Mexico
| Rank | Company | City |
|---|---|---|
| 1 | Akal Security | Espanola |
| 2 | Sandia National Laboratories | Albuquerque |
| 3 | Presbyterian | Albuquerque |
| 4 | Los Alamos National Laboratory | Los Alamos |
Why is New Mexico such a poor state?
The list, according to Wallin, include economic inequality, high rates of working poor, high unemployment rates, lack of funding for early childhood education, and lack of funding for higher education. And those are just a few of the underlying issues, Wallin said.
Is New Mexico poor?
New Mexico’s poverty rate in 2019 was 18.2 percent, a decline from 2018 when it was 19.5 percent, but still the third highest in the country. The national rate was 12.3 percent. As seen in Exhibit 1, Mississippi had the highest poverty rate of 19.6 percent in 2019, while New Hampshire, at 7.3 percent, had the lowest.
What industries are growing in New Mexico?
These include:
- Cybersecurity.
- Intelligent Manufacturing.
- Sustainable and Green Industries.
- Bioscience and Health.
- Tourism and Outdoor Industries.
- Digital Media and Film.
- Sustainable Agriculture and Value-added Agriculture.
- Aerospace.
Is it cheaper to live in Texas or New Mexico?
The higher cost of living in Texas doesn’t just apply to food and clothes. Housing is significantly more expensive there than in New Mexico. The median cost of a home in New Mexico is less than $200,000, while the median cost of a home in Texas is about $223,000.
Why you shouldn’t move to Albuquerque?
New Mexico has the highest rate of property crime in the United States, driven in no small part by the situation in Albuquerque. This can be attributed to various socioeconomic factors in the city, including low education levels, a high unemployment rate, and higher levels of substance abuse in the population.
Who uses the most water in New Mexico?
irrigated agriculture
Quick Facts: Over ¾ of New Mexico’s water goes toward irrigated agriculture (76%). Sprinkler and Flood irrigation are used in about 97% of irrigated acres in New Mexico. In the home, toilets use the most water, followed by washing machines & showers.
Where does New Mexico get most of its water?
New Mexico relies on both groundwater and surface water sources, but about 87 percent of New Mexico’s public water supply comes from ground water. No other southwestern state gets such a large percentage of its domestic water from groundwater sources.
Where in New Mexico has the most water?
Elephant Butte Lake, located in southern New Mexico, is the state’s largest lake and most popular spot for enjoying the water.