A press release recently released by the Carlsbad Department of Development included some impressive numbers highlighting Eddy and Lea County’s continued economic contribution to the state. Eddy County Manager Allen Davis has also significantly contributed to this analysis.

The information is based on a look at the New Mexico Economic Development Department’s webpage, which broke out matched taxable gross receipts on a county-by-county level. Despite having only about 3 percent of New Mexico’s population, Eddy County was responsible for about 12 percent of the matched taxable gross receipts at $2.384 billion.  According to Davis, that’s nearly four times the contribution of others on a per capita basis. Lea County had similar numbers. Eddy County also reported the highest growth rate of anywhere in the state. For comparison, Bernalillo County has about 32% of the state’s population and is accountable for about 28% of the tax. 

Recent numbers from the New Mexico Tax Research institute also show that the oil and gas industry in New Mexico contributed $5.3 billion to state and local governments in the fiscal year 2021.

We see press releases on a regular basis on the film industry in New Mexico. There’s also quite a bit of media coverage on the cannabis industry. Both of these industries are subsidized through the state. While these topics certainly receive their share of attention, it’s important that the policymakers don’t forget many of the state’s bills are still being paid thanks to a very hard-working energy industry in southeast New Mexico.  The greatest economic success story is happening in our own backyard. 

From the office of Mayor Dale Janway