The New Mexico labor force is growing and unemployment is dropping. Over-the-year job growth from December 2017 to December 2018 was 33% faster than the country as a whole and New Mexico was sixth in the nation for our drop in the unemployment rate.
When the bids were tallied, the total came to $35.3 million. This makes it the second highest single-month yield in the agency’s history after November 2018, when the monthly lease sale brought in $43 million.
This video is part of a new educational campaign from NM4EP describing how the responsible use of state lands – be it energy, agriculture, recreation, or many other activities – is benefiting all New Mexicans.
Compared to the previous fiscal year, the oil and gas industry generated $128 million more for education in FY 2018. That additional revenue would be enough to hire 2,300 new teachers.
On top of the 1,200 construction workers a day the project brings to Los Lunas, new businesses are also in place to set up shop.
“Ganymede will create up to 51 new high-tech, high-wage jobs,” New Mexico Economic Development Secretary Alicia Keyes said, noting that its creative and administrative staff are anticipated to earn salaries up to $150,000 annually.
When it comes to public lands and conservation, we should continue to pursue economic prosperity through responsible development, which is exactly what we’ve proven we can do here in New Mexico.
NMSU estimates the construction phase alone for the first five ranches will create about a dozen jobs with a $1.2 million economic impact. Once completed, the project could create more than 400 jobs with an annual impact of up to $36 million.
The company expects to hire about 20 engineers and technicians over the next two years who will work with Build with Robots to program collaborative robots, or cobots, for specific aerospace tasks.
New Mexico is getting, by far, more government revenue out of its oil and gas industry’s production value than any other state studied.