Powder Coating Companies in New Mexico
New Mexico’s economy is led by oil and gas production, tourism and hospitality, and the federal government (technology laboratories, including the Los Alamos National Laboratory, are among the largest employers in the state).
New Mexico Economy Overview
The growth of the New Mexico economy is ranked in the bottom six out of 50 states for the fourth consecutive year because of a poor economic climate and weak labor supply. Its employment growth ranks number 49 out of 50 states over the past five years, growing 0.6 percent/year:
- New Mexico’s Gross State Product was $92 bn as of November 2016
- Median household income is approximately $45,000/year
- The cost of doing business is marginally higher than the national average (about 0.3 percent higher)
- The state’s net migration continues. New Mexico’s population decreases about 10,000 people/year
According to Forbes, New Mexico ranks 46th in terms of the best states for business. It ranks 27th in business costs, 43rd in labor supply, 37th in regulatory environment, 49th in economic climate, 42nd in prospects for growth, and 41st in quality of life.
Leading Industries in New Mexico
Albuquerque is New Mexico’s industrial center. .
- Manufacturers produce petroleum and coal products, electric equipment, food, stone/clay, and printing/publishing products. Defense-related industries and high technology businesses (e.g. laser, semiconductors, data processors, and solar energy firms) are also contributors to New Mexico’s economy.
- Federal spending is an important driver of New Mexico’s economy. In 2005, the U.S. government spent more than $2.00/$1.00 of tax revenues collected. The federal government is one of the state’s largest employers: about 25 percent of New Mexico’s workers are employed by the U.S. government or agencies. Many of these federal government positions relate to the state’s three air force bases: Cannon AF Base, Kirtland AF Base, and Hollomon AF Base. White Sands Missile Range and Fort Bliss – McGregor Range, The National Park Service, U.S. Bureau of Land Management, and the U.S. Forest Service are also major employers in the state.
- Tourism and hospitality also contribute to New Mexico’s economy. According to the New Mexico Tourism Department, visitors contribute about $8 bn to the state economy per year. Albuquerque’s private service economy has shown steady growth since World War II. Albuquerque attracts more retirees each year. The community is health-conscious. Many alternative therapists, massage therapists, hospitals, and physicians practice here. The semiarid, warm climate continues to attract new businesses to the state.
New Mexico’s powder coating businesses and contractors serve the automotive, aerospace, industrial, recreational, electrical, and furniture industries. Finishing services, ceramic coating, and custom providers offer services to local and regional businesses.
Top 3 Powder Coaters in New Mexico
1425 Candelaria NE Albuquerque, NM 87107
ABQ Manufacturing, Inc.
1400 Broadway Blvd. NE Albuquerque, NM 87102
Southwest Powder Coating, Inc.
2900 Vassar Drive NE Albuquerque, NM 87107