New Mexico
New Mexico
In the development of new medicines, clinical trials are conducted to prove therapeutic safety and effectiveness and compile the evidence needed for the Food and Drug Administration (FDA) to approve treatments. And the biopharmaceutical sector is committed to bringing new treatments and cures to patients. This commitment to innovation supports high-quality jobs and is a vital part of every state’s economy and our global economic competitiveness.
In Your State
Economic Impact In Your State: New Mexico
Economic Impact
$2.7B
Total output supported by biopharmaceutical sector
$122.9M
Tax Revenue Generated
8,579
Total Jobs
2,745
Direct Jobs
232
Total Clinical Trials
$53.4 million
Invested in Clinical Trials
3,536
Total Economic Impact of Clinical Trial Investments
$126 million
Invested in Clinical Trials
Programs and Initiatives in Your State: New Mexico
State programs and initiatives to promote biopharmaceutical industry development
- Accelerating Innovation, Commercialization & Entrepreneurial Development
- Building Research Capacity and/or R&D Infrastructure
- Economic Innovation Incentives
- STEM Education & Workforce Development
- Targeted Strategies
- Venture Financing
Programs and Initiatives
11
Patents per 1,000 people in Science & Engineering
Percentage of Workforce Employed in High-Tech Jobs