New Mexico, in the southwestern part of the US, has a long and diverse history. Inhabited for centuries by several Native American Tribes, it was part of New Spain – a Spanish colony, part of Mexico and eventually a United States Territory and state. It has the largest percentage of Hispanic residents (nearly 45% of its population) owing in large part to its history and its proximity to Latin America.
New Mexico is also unique because of the large number of Native American that still resides there. In fact, it has the third largest native population of all of the states in the Union. The Native Americans that currently live in New Mexico are primarily of Pueblo and Navajo descent.
New Mexico is a fairly desolate state. Approximately sixteen people reside in each square mile. This makes New Mexico the 44th most dense state in terms of population. As of 2008, its total population was just under two million.
In 2007 the Gross Domestic Product of New Mexico was $76.18 billion and the state ranked 43rd in the terms of per capita income ($31,474). In spite of these relatively high numbers nearly 20% of the population lives below poverty level.
Important Commercial Facts on New Mexico
1. New Mexico is the United States leading producer of natural gas and crude oil. Two large fields, the San Juan Basin and the Permian Basin account for this production.
2. New Mexico receives a large amount of federal assistance. The state government has developed a system of assistance and tax credits in order to promote growth in the business sector.
3. A large portion of the economic base is derived from tourism. New Mexico is a popular tourist destination for outdoor enthusiast.
New Mexico is generally considered to have a bright future. Much of its potential remains untapped. The state is driving towards increasing business revenues throughout the state.
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