New Mexico's Economy
According to the Small Business Administration (SBA), the state of New Mexico has approximately 15 thousand businesses that employ approximately 340 thousand employees. 99% of businesses in New Mexico are small businesses which employ 54.2% of New Mexico employees.
Oil and gas production, tourism, and the federal government drive New Mexico’s economy. Federal technology labs, Los Alamos National Laboratory and Sandia National Laboratories, are the two of the largest employers in the state. (https://www.forbes.com/places/nm/)
For a report on demographic information in New Mexico, read the New Mexico 2018 State of the Workforce.
New Mexico Economic Development Department
The mission of the New Mexico Economic Development Department is to Improve the lives of New Mexico families by increasing economic opportunities and providing a place for businesses to thrive.
Our programs and initiatives support our mission. The New Mexico Partnership is a statutorily-created public-private organization under contract to the department to market the state globally in order to attract new jobs and investment. Department programs provide direct assistance to New Mexico businesses and communities. Programs and services for businesses can be found in the Business Resource Center. EDD also administers several programs that support Community Development.
New Mexico Department of Workforce Solutions
The New Mexico Department of Workforce Solutions (NMDWS), whose mission is to Educate, Empower, Employ, is committed to being a leader in and a facilitator of a competitive workforce for the benefit of all New Mexico. The department’s goals are: to be a business-driven department, understanding the needs of employers with a focus on the employability of all New Mexicans; to be an integral part of all economic development and education initiatives; to be efficient and responsive to the diverse needs of New Mexico’s employers and workforce; and to be a “gateway” to employment.
New Mexico Partnership
We know how difficult locating your business can be; the New Mexico Partnership is focused on providing the business assistance you need to make that decision easy. The New Mexico Partnership is designated by the State to be your single-point-of-contact for locating your business anywhere throughout New Mexico.
We know how difficult locating your business can be; the New Mexico Partnership is focused on providing the business assistance you need to make that decision easy. The New Mexico Partnership is designated by the State to be your single-point-of-contact for locating your business anywhere throughout New Mexico.
New Mexico Workforce Connection Centers
We are dedicated to enhancing the productivity of New Mexico’s workforce and fostering a competitive atmosphere amoung businesses across the state by connecting employers with qualified job seekers.
New Mexico Workforce Connection Centers around the state can help your business grow from good to great by providing the kind of employment support that can make a real difference to your bottom line.
New Mexico Small Business Development Center (NMSBDC)
The NMSBDC centers are strategically located throughout the state of New Mexico. The highly skilled NMSBDC staff is comprised of business professionals with over 773 years of combined small business management and ownership expertise. The pride and dedication of the consultants shines through with over 440 combined years of service with the NMSBDC Network.
Introducing New Mexico entrepreneurs to global trade resources, the network offers the International Business Accelerator (IBA), located in Santa Teresa, NM. The Procurement Technical Assistance Center (PTAC) introduces established business owners to contracting with Federal, State, Local and County governments.