Lab accounts for $3 billion to state economy

Los Alamos National Laboratory is crucial to New Mexico’s economic health, creating a $2.9 billion impact on the state’s economy and supporting about 24,000 jobs, according to a new University of New Mexico study.

In fiscal year 2009, the Lab directly injected $1.6 billion into New Mexico’s economy, with an additional $1.3 billion resulting from indirect economic spending.  The indirect impacts are the ripple effect of LANL vendors purchasing goods and services and LANL employees and vendors’ employees spending their earnings in the region.  UNM calculated the Lab’s economic impact based on employee compensation, purchases of goods and services, construction expenditures, taxes, and other outlays.

LANL is the sixth-largest employer in New Mexico, according to UNM’s Bureau of Business and Economic Research.  Nearly 24,000 jobs in New Mexico were made possible by the Lab’s activities in fiscal year 2009.  Of these, 11,685 were direct jobs (employees and contractors), and nearly 12,000 resulted from indirect economic impacts.

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