Laboratory economic impact 2024: Over $1B spent with New Mexico businesses; $1.96B in employee salaries

Los Alamos National Laboratory released its annual Economic Impact Report detailing spending during fiscal year 2024, which ended Sept. 30. With an annual budget of $5.24 billion, the Laboratory is a major economic driver in the state.

“Los Alamos National Laboratory plays a critical role in the economic viability of the surrounding New Mexico communities,” Laboratory Director Thom Mason said. “Each year, we grow as required by the demands of our national security mission and, in turn, the local economy grows with us.”

Statistics from the report detail procurement dollars, employee salaries by county, small-business assistance, labor union membership and more. 

Three key takeaways in the report are:

1. Los Alamos National Laboratory is one of the largest employers in the state and a major economic driver in the region.
2. In 2024, the Lab employed 16,547 workers, who earned $1.96 billion in salaries.
3. The Laboratory spent $1.05 billion with New Mexico businesses and paid $138 million in New Mexico gross receipts tax.

Employee salaries stimulate the regional economy

While the number of regular Laboratory employees reached 16,547 in 2024, the Lab also employed 1,378 contractors, bringing the total to 17,925. Of the 16,547 regular employees, 28.7% have at least one degree from a New Mexico college or university and 39.2% are native New Mexicans.

More than 65% of our employees live outside of Los Alamos County, benefiting their home communities.

Employee salaries by county:

• Los Alamos: $794 million
• Santa Fe: $504 million
• Rio Arriba: $215 million
• Bernalillo: $124 million
• Sandoval: $85 million
• Taos: $26 million
• Other: $35 million

Free scientific expertise and technology sharing helps budget-strapped businesses expand

In addition to contracting, the Laboratory supports business growth through mentorship and technology sharing. In FY24, Laboratory-supported programs with New Mexico Small Business Assistance

• Conducted 182 projects with 212 New Mexico small businesses,
• Attracted $14.1 million in new financing,
• Created or retained 371 non-Laboratory jobs with salaries totaling $4.8 million.

Additional business-development programs include TRGR, New Mexico LEEP and the Feynman Center for Innovation.

• Technology Readiness Gross Receipts tax initiative (TRGR or “trigger”) bridges the tech-transfer gap by offering qualified New Mexico companies $150,000 in free technical assistance via Los Alamos or Sandia national laboratories. 
• New Mexico Lab-Embedded Entrepreneurship Program, or New Mexico LEEP, is a two-year fellowship matching deep-tech entrepreneurs with scientific mentorship and technical resources at Los Alamos and Sandia national laboratories.
• The Laboratory’s Richard P. Feynman Center for Innovation is a gateway to connect businesses with Lab innovators, access technical expertise or explore ways to partner with Los Alamos National Laboratory. 

Triad National Security, the management and operating contractor for Los Alamos National Lab, also supports small business as part of the $3.1 million Community Commitment Plan, which includes support of the Regional Development Corporation in providing workforce training and business expansion programs to communities and Native American pueblos in Northern New Mexico.