This also includes electronics manufacturing. Despite the changes and uncertainty of NAFTA being re-negotiated as the new United States-Mexico-Canada Agreement (USMCA), the major manufacturing industries in Mexico are expected to see continual growth. More Articles. If you like living in the city, the larger metropolitan areas include Albuquerque and Santa Fe. They provide most of the jobs and account for a large amount of the government spending in the state. We’d be happy to help you find the perfect property for your needs. The largest contributor to real GDP growth in New Mexico was mining, quarrying, and oil and gas extraction. Although much of the state is dry land, technological farming has enabled the production of hay, chili peppers, onions, potatoes, sorghum, pinto beans, and pinon nuts. About a third of employed New Mexicans work in administrative support positions. Here at Zippia we have developed a database of over 250,000 companies that spans the entire country. There are many opportunities to own large ranches or even a small cottage in the mountainous north. New Mexico’s state borders and the regions surrounding the US border with Mexico are experiencing rapid growth with comprehensive transportation and logistics networks. Globally, Mexico is the sixth producer of automobiles, surpassing France and Spain in 2011, Aerospace companies have taken advantage of these, From 2013 – 2015, there was a reported 20 percent average annual export growth, Accumulated direct foreign investment from 2007 – 2017 is upward towards $6 billion, Aerospace firms grew from 112 in 2009 to 330 in 2017, The Mexican Government launched various programs to create employment opportunities, including business incentives, new workforce training programs, and new universities, Academic, government and private sector collaborations expand device manufacturing and improve efficiency, Proximity to the U.S. provides several cost-effective benefits over other global locations like China, has reported that textile manufacturers have modernized their facilities and are looking to expand into automotive and industrial fabrics, Volkswagen, Mercedes Benz, BMW and others are getting automobile filters, airbags, seat covers, doors, bands and cables manufactured by upgraded textile facilities in Puebla, Mexico. and 43.2 million acres of farmland, The former is the largest natural gas reserve in the United States. We invite you to browse our ranch offerings and discover the parcel of your dreams. Buying Your Dream Horse Property – 6 Things to Avoid. New Mexico holds vast deposits of fuel and alternative energy sources. Remittances from Mexican immigrants in the United States to their families back home are a major source of income in Mexico, second only to oil and surpassing even the tourism industry. Metal mechanics manufacturing in Mexico can be found throughout the maquiladora industry. Managed with reasonable care, it is about the safest investment in the world.". The second largest industry was finance, insurance, real estate, rental, and leasing, which accounted for 16.9 percent of New Mexico GDP and had 0.7 percent real growth. ", According to the New Mexico Department of Workforce Solutions. They provide most of the jobs and account for a large amount of the government spending in the state. The Land of Enchantment has a typical desert climate with lots of sun, wide temperature ranges and plentiful wind. Finance, insurance, real estate, leasing, and rental jointly account for about 17%. November 23, 2017 . Mining, gas and oil extraction, and quarrying are the largest contributors to the growth of real GDP in New Mexico. This also includes electronics manufacturing. Financial incentives and development of production facilities, including the Albuquerque Studios, have created more opportunities for local productions.