Economy

Vanishing Iconic Businesses, Fragile Economy—New Mexico’s Warning Sign You Can’t Ignore

A wave of closures is hitting longtime New Mexico businesses, from beloved Albuquerque restaurants like The Farmacy and Bosque Brewing to family-owned shops. Surging operational costs and stagnant local spending power are exposing deeper vulnerabilities in a state overly reliant on volatile oil and gas revenues and government employment.

$4 Billion Windfall From Oil and Gas Lease Sale — But They’re Refusing to Spend It. Here’s Why That’s Actually Smart.

New Mexico is choosing to stash its portion of a landmark $4 billion oil lease windfall in dedicated trust funds instead of spending it immediately — a prudent move that could help stabilize the state’s finances for the long term. The decision represents a departure from the state's volatile energy past.

Albuquerque is Raising the Minimum Wage to $15 by 2030 — Here’s How it Could Reshape Paychecks, Families, and Local Businesses

The Albuquerque City Council has approved a gradual increase in the city’s minimum wage, raising it to $15 an hour by 2030. Supporters say the measure will help working families cope with rising living costs, while businesses argue the phased approach gives employers time to adjust. The decision highlights the ongoing debate over wages, affordability and economic growth in New Mexico’s largest city.

Gas Prices Remain High Despite Summer Season Fast Approaching

Gas prices will remain high despite the approaching summer season.

Trump’s $4B Permian Oil Bonanza—Energy Triumph or Public Lands Risk?

In one of the largest single-day oil and gas lease sales in recent history, the Trump administration generated over $4 billion from federal lands in the Permian Basin, highlighting strong industry demand and the impact of lowered royalty rates.

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45 Elite Nevada Rescuers Deployed as Southwest Braces for Potentially Catastrophic Flooding

Forty-five elite Nevada rescuers have been deployed to New Mexico as Hurricane Polo and other weather systems threaten life-threatening flooding across the US Southwest.

Highland Middle School Teacher In Critical Condition After Allegedly Being Shot by 13-Year-Old Student

Special education teacher Kelly Matthews remains critically injured after he was allegedly shot by a 13-year-old student at Highland Middle School in Hobbs. Authorities said the shooting happened Friday, and the investigation is still ongoing.

Is Poverty Declining in New Mexico? Census Data Shows a Drop

New Mexico’s poverty rate has fallen in recent years, according to the U.S. Census Bureau. Governor Michelle Lujan Grisham said the state’s investments in its residents are beginning to show results.

‘We’re Ready’: New Mexico Braces for More Heavy Rain After Devastating Floods Leave Communities Reeling

New Mexico communities are racing to prepare for another round of heavy rain after last week’s devastating floods damaged homes, roads and public spaces, swept away a van in Española and forced residents to evacuate in Mora County and Hondo. As storms return, officials in Ruidoso, Gallup and Mora County are urging residents to stay alert, prepare emergency kits and evacuation plans, avoid flooded roads and work together to protect their communities.

Albuquerque Breaks September Rainfall Record as Santa Fe Leads New Mexico Deluge

Albuquerque recorded its wettest September on record with 4.49 inches of rain, while Santa Fe led reported rainfall totals during a late-month storm that brought flooding concerns across New Mexico.