According to Ski New Mexico, the total economic impact was over $569 million. The ski resorts generated over $45 million in gross receipt taxes for the state and 2,600 people were employed for seasonal work.
In addition to having immense oil and gas resources, New Mexico is near the top of the list of states with the highest potential wind and solar power capacity. And a new announcement demonstrates that our multi-prong approach to energy is working.
Moriarty Pressure Pipe, which manufactures large steel, concrete and plastic pipe for renewable and water projects throughout the Southwest, will build a 300,000 square foot plant and employ as many as 120 people.
According to a press release, NBCUniversal will employ more than 330 full-time jobs year round and generate an economic impact of $1.1 billion over 10 years. According to an economic analysis by the state, the total number of jobs, direct and indirect, should exceed 800.
Dairy is New Mexico’s top agricultural commodity in terms of value produced ($1.33 billion in 2017). The dairy industry is directly responsible for more than 5,800 jobs, $215 million in wages, $5.3 billion in economic impact, and $162 million in state tax revenue.
“The economic activities that take place on our state trust lands are an important source of jobs in multiple industries from agriculture and energy to mining and outdoor recreation,” said Kyler Nerison, executive director of NM4EP.
The State Land Office expects revenues in Fiscal Year 2019, which ends June 30, to reach nearly $1 billion, State Land Commissioner Stephanie Garcia Richard said.
New Mexico’s 9 million acres of state trust land generated a record high $852.2 million in revenue for the Land Grant Permanent Fund and Land Maintenance Fund in Fiscal Year 2018. These funds have distributed $3.5 billion in the last five years – which includes $826.2 million last year – to schools, colleges, universities, hospitals, and other public institutions across the state.
A new economic analysis demonstrates the opportunity that our state has before us thanks to the ongoing energy boom in the Permian Basin. The study looked at ExxonMobil’s investments in the Permian Basin and estimated that New Mexico will receive $62 billion in net fiscal benefits and local communities will see an additional $1.8 billion…
“A report released earlier this year breaks down how much oil and gas revenue has benefited New Mexico’s public schools… what it found is eye-opening.”