New Mexico research park gives major economic lift

A report says New Mexico's economy has seen a major boost from businesses at Sandia Science & Technology Park and Sandia National Laboratories sites in the research park.

The Mid-Region Council of Governments report says those businesses and sites spent $1.2 billion on goods and services and $2.3 billion in wages over more than a decade.

The council assessed the research park's economic impact on the economies of the state and the Albuquerque area from the time the park started in May 1998 through the end of last year.

The report says the impact led to increased tax revenue for Bernalillo, Sandoval, Torrance and Valencia counties.

It says economic activity stemming from the park meant nearly $58 million in gross receipts tax revenue to the state over the period.