Great Productivity
New Mexico’s business climate is one of the country’s most productive, evidenced by its high value added per hour of work.
Value Added Per Work Hour
Manufacturing Production Workers
|
| United States |
$82.96 |
| Arizona |
$128.83 |
| California |
$96.46 |
| Colorado |
$83.87 |
| Nevada |
$69.48 |
| New Mexico |
$143.33 |
| Texas |
$92.15 |
| source: Census Survey of Mfg, 2001 data |
Competitive Wages
New Mexico boasts the lowest average production wage in the region, combined with a high rate of value added. Simply put, New Mexicans produce more for less. In addition, union activity and unemployment insurance remain low.
| Comparison of Average Weekly Wages for Manufacturing Industries* |
| |
Arizona |
Colorado |
New Mexico |
Oklahoma |
Texas |
Utah |
| 1st Quarter 2004 |
$1,039 |
$1,026 |
$808 |
$730 |
$1,005 |
$719 |
| 2003 Annual |
$973 |
$978 |
$760 |
$725 |
$938 |
$731 |
| * Private sector only |
| Source: U.S. Department of Labor, Bureau of Labor Statistics, Quarterly Census of Employment & Wages |
Low Utility Costs
New Mexico has plentiful natural resources that allow us to produce all the energy we need right here in the state. Consequently, our electricity and natural gas rates are among the most competitive in the nation.
Rural Revitalization
Besides having good agricultural supplies and a talent for making Hispanic foods, New Mexico is building its rural infrastructure. The Certified Communities Initiative helps small communities build new infrastructure in order to attract new business. Clovis, New Mexico—now home to the $190 million Southwest Cheese plant—is just one community who has taken advantage of the program with impressive results.
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New Mexico’s dairy industry has grown steadily since the 1990s. In the second quarter of 2004, 170 dairies produced 1.76 billion pounds of milk. Clovis’ new Southwest Cheese Plant, scheduled for completion in late 2005, will produce 250 million pounds of cheese annually—all from local milk
Hot! Hot! Hot! The chile pepper is one of New Mexico’s chief agricultural products. As Hispanic foods increase in popularity, the demand for New Mexico’s agricultural products grows. For example, in 2003, salsa sales topped $639 million, while ketchup weighed in at $489 million.
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