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Sandoval County gained $1.6 billion in wealth between 1992 and 2015

~Tiffany Avery, Director of Marketing and Communications, Sandoval Economic Alliance

Sandoval County gained $1.6 billion in adjusted gross income (AGI) from 1992 to 2015, making it one of only two counties in New Mexico to increase in wealth during that time, according to the US Census Bureau and the IRS Division of Statistics. Of the $1.6 billion, most came from neighboring communities: $566 million from Bernalillo County, $85 million from Santa Fe County, and $26 million from Los Alamos County. An additional $65 million moved to Sandoval from California: $44 million from Los Angeles County and $21 million from Orange County.

Alternatively, approximately $80 million in AGI migrated out of Sandoval County for Arizona, Oregon, and Colorado: $48 million to Maricopa and Pinal Counties in Arizona, $23 million to Washington County in Oregon, all areas where Intel has a large presence. Another $10 million left for Arapahoe and El Paso Counties in Colorado, where Lockheed Martin has been steadily growing.

In addition to wealth, Sandoval County has also gained in population. Often recognized as the fastest growing county in the state, the community gained 24,984 residents between 1985 and 2015. Most of the growth came from nearby areas: 12,151 from Bernalillo County, 2,210 from Santa Fe County, 508 from Los Alamos County, and 453 from San Miguel County. A notable 1,079 people moved to Sandoval County from Los Angeles County, CA.

During that same period, 634 residents left New Mexico for Maricopa and Pinal Counties in Arizona, and 251 left for Washington County, Oregon. An additional 283 residents left Sandoval County but remained in New Mexico in Valencia and San Juan Counties.

 “It’s no surprise that our community has seen tremendous growth. We have a number of large companies who have opened offices or operations, which has helped diversify our local economy. With low crime, low cost of living, and an outstanding quality of life, Sandoval County is very appealing to companies looking for that perfect combination of the right site and a great place to live. We just created a new Sandoval County $3 million economic development fund to further recruit, retain, and expand businesses in Rio Rancho and all of Sandoval County,” expressed Don Chapman, Chairman, Sandoval County Commission.

 “With our recent increase in investment in our county’s development, we will continue on this path as a growth leader in our state,” added Chapman.

For more information about Sandoval Economic Alliance, call 891-4305 or visit                                www.SandovalEconomicAlliance.org.

 

 
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