New Mexico reports more than $2B in revenue for the third year in a row
5 Dec 2024
News
Oil and gas revenue earned New Mexico more than $2.5 billion last fiscal year, state officials announced Thursday. It was the third straight year the state broke the $2 billion threshold from its land, and its second-biggest windfall of that type ever.
With record production, New Mexico has risen to become the second-highest producer of oil and gas in the U.S., just behind Texas. The state’s revenue from its 9 million acres of land and 13 million acres of below-ground holdings goes to its Land Grant Permanent Fund. The fund holds money in trust for public schools, universities and a handful of other beneficiaries. This year, it paid out more than $1 billion.
More Topics
Best Practices in Incentives Procurement
Dec 4 2024Securing economic development incentives is a key element of a successful site selection strategy, but it requires careful planning, negotiation, and long-term compliance. The right incentives can offset costs, accelerate project timelines, and support long-term growth, but the process is often complex and full of potential pitfalls. From the earliest...
The East Aztec Arterial project officially began Monday afternoon with a groundbreaking ceremony at the southwest end of Phase 1B of the project. A large contingent of Aztec and San Juan County officials turned out for the event on a crisp autumn day.Aztec Mayor Mike Padilla opened by saying that...
Bloomfield city officials, employees and citizens attended the groundbreaking ceremony Tuesday afternoon for the East Blanco Bridge. The project will replace the old bridge that served as U.S. Highway 64 since about 1992, when the current highway to the south was built.“So you all know that this project is a...