NEW MEXICO ECONOMIC
DEVELOPMENT DEPARTMENT

New Mexico’s Target Industries

Governor Michelle Lujan Grisham has designated nine target industries for growth. EDD is dedicated to helping grow a sustainable, appropriate, and diverse economy by focusing support on these industry sectors.

Aerospace

An ideal climate, three national research laboratories, three US Air Force Bases, the internationally recognized Spaceport America, and three testing facilities plus 15,000 square miles of restricted air space all combine to create a superior environment for aerospace and aviation companies.

Film & Television

With $3B+ being invested as part of production centers created by Netflix and NBCUniversal, New Mexico is a rapidly accelerating media hub and offers beautiful locations, history, culture, and one of the largest crew bases in the country, plus a very generous refundable tax credit.

Intelligent Manufacturing

The state’s deep bench in intelligent manufacturing includes tech industry leaders like Intel along with homegrown companies like SolAero, UbiQD and 3D Glass Solutions, all examples of locally created and commercialized technology. Low risk of weather events and a stable, dry, climate combine with customized incentives to make New Mexico a top tier option for advanced manufacturing.

Outdoor Recreation

Home to 5 national forests, 15 national parks and monuments, 34 state parks, and 26 wilderness areas, New Mexico’s outdoor industry covers everything from swimming to skiing, stargazing to hot air ballooning, and a range of stunning landscapes and cultural and historical sites.

Sustainable
& Green Energy

With 300+ days of sunshine annually, the state contains tremendous untapped solar capacity, not to mention a growing wind and biothermal energy sector, too. As of 2020, renewable energy provided 27% of the state’s utility-scale net generation.

Biosciences

Biosciences make up more than one-half of all R&D conducted in New Mexico, and there is a strong pipeline from the state’s 3 major research insitutions as well as tech transfer initiatives into 600+ companies and organizations.

Sustainable & Value- Added Agriculture

Long recognized for cattle ranching and farming, New Mexico now leads in dairy production (top 10 in milk, top 5 in cheese), growing pecans, pistachios, and peanuts, creating gold medal craft beer and wine, and a fast growing farm to table and organic produce industry anchored by the state’s reputation as the Chile Capitol of the world.

Cybersecurity

Both of the state’s U.S. Department of Energy labs conduct extensive research in cybersecurity, complemented by work done at the Air Force Research Lab and White Sands Missile Range as well as New Mexico Tech, University of New Mexico, and a growing cluster of firms in the cybersecurity industry.

Global Trade

New Mexico exports more than $3.5B in goods worldwide. Major trading partners include Mexico, China, and Japan. Computer & electronic products, at $2B, is the largest category of products exported. The state is also a destination for foreign direct investment, with companies including CN Wire, Admiral Cable and Rhino Health manufacturing products here.

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