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A New Mexico State University study shows that the Santa Teresa port of entry (POE) and Santa Teresa industrial parks were responsible for nearly 6,000 jobs in 2020 and more than $1 billion in total output.
The study, which was done by NMSU’s Arrowhead Center and the Center for Border Economic Development (C-BED), found that employment and construction activities at Santa Teresa POE and four Santa Teresa industrial parks produced the following impacts in 2020:
“The Border Industrial Association (BIA) commissioned C-BED, as its very first project, to do the Santa Teresa economic impact study, which is the first of its kind,” BIA President Jerry Pacheco told the Bulletin. “The Santa Teresa industrial base is growing rapidly and helping to diversify New Mexico’s economy. The study shows the billions of dollars year-after-year that Santa Teresa is contributing to the state’s economy and the thousands of good-paying jobs that have been created here.”
“Economic development is vital for the state of New Mexico, and it’s at the forefront of our efforts at NMSU,” NMSU Chancellor Dan Arvizu said. “This report gives us a much better understanding of how vital Santa Teresa is for our state as well as our region.”
“It was of critical importance that the impact of the Santa Teresa region be quantified to highlight the key role the region is playing in the state’s economy,” said NMSU C-BED research fellow Lucinda Vargas. “The region is now the source of the majority of the state of New Mexico's exports, at 58 percent of the total.”
“This study gives clear data on how Santa Teresa benefits New Mexico,” Arrowhead Center Director and CEO Kathryn Hansen said. “By having the concrete data, we can now better work our local businesses to be a part of this growth and bring in even more industry that can see that we are part of a growing international hub.”
“The Santa Teresa industrial park(s) is a major source of jobs for New Mexico, responsible for the creation of 5,800 jobs, most in Doña Ana County,” said NMSU economics professor Chris Erickson, Ph.D. “The jobs created by the industrial park(s) are good jobs, with an average pay of about $23 an hour in wages and benefits.”
To read the study, visit https://arrowheadcenter.nmsu.edu/economic-and-policy-studies/.