In 2017, New Mexico’s gross domestic product was $97.1 billion, which ranks 37th among all U.S. states. The largest single contributor to our economy is state and federal government, followed by the finance, insurance, and real estate industry.
But New Mexico is also blessed with an abundance of natural resources. Our energy and mineral wealth “is one of the richest endowments of any state,” according to the New Mexico Bureau of Geology and Mineral Resources.
In fact, oil and gas development is a key driver of our economy. As U.S. Senator Martin Heinrich (D-NM) has said:
“In New Mexico, thousands of jobs and a sizable portion of the state’s economy are supported by the oil and gas industry, which plays a critical role in meeting our nation’s energy needs.”
From mining and renewable energy development to recreation and health care, the opportunities for New Mexico’s economy are vast and plentiful.