Hobbs Economy

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Lea County is noted for its rich oil and natural gas reserves, attracting international oil-related companies such as ConocoPhillips, Chevron and Baker Hughes.

Although the economy has benefited from the enormous wealth of the gas and oil reserves, the business community is diversified enough to create a balanced community with major stores mixed in with small, individually owned shops. The telecommunications business is booming, with Windstream Telecommunications, TDS and LEACO Rural Telephone Service prepared for new markets as Lea County continues to grow.

Tourism is increasing in importance in Lea County, with several new national-brand motels and restaurants building to accommodate the casino and horse track. The casino and race track attract more than 2.2 million people per year to play, be entertained and watch world-class horse racing. This is the only non-Native American-owned casino built as a Las Vegas-style casino in New Mexico. Live horse racing is scheduled for the months of September through December in Hobbs. This time of the year has great weather for both the horses and spectators. There is always simulcast (televised) horse racing every day at the race track.

The location of the URENCO USA uranium-enrichment facility in Lea County indicates the high-tech proficiency of the area. This $4 billion facility enriches uranium for nuclear power plants throughout the world, supporting continued clean and affordable electrical power. Several related industries also are expanding or relocating their businesses for the opportunities Lea County offers.

Major cattle ranches and dairy farms dot the rural areas of Lea County along with agricultural farms that produce cotton, peanuts, chile, watermelon and pumpkins. The RMS Food processing plant located in Hobbs is a leading manufacturer of Boca Burger, a division of Kraft Foods, which markets many vegetarian and dietary substitutes made of soy for worldwide distribution.

Because Lea County is one of the largest counties in New Mexico by area, there are still opportunities for growth, and we invite prospective investors, businesses and manufacturers to consider locating or relocating to Lea County. Lea County offers assistance in planning, financing and several benefits to help build your economic base.

Despite the impressive economic development, the most important aspect of doing business in Lea County is directly related to the residents. People in Lea County have a reputation for supporting locally owned and operated businesses. From independent oil producers to local shop owners, entrepreneurs are welcomed here.

Industry in Lea County is diverse. The gas and oil industry, as well as a dynamic agricultural industry, have long-standing presences in the region, while the newest industry is tourism, with the additions of new restaurants, motels and entertainment destinations. More and more, high-tech companies are exploring the opportunities of Hobbs and Lea County, and the telecommunications business continues to flourish with the availability of super-fast fiber-optic lines throughout Lea County.

The world needs more energy and we know energy diversity is the only way we’re going to solve the world’s energy challenges and to meet domestic demand. Only the EnergyPlex exemplifies the “all of the above” approach to energy security, with the petroleum, nuclear and renewables industries making their home right here in the EnergyPlex.

The southeast corner of New Mexico has long been the cornerstone of the state’s energy economy. Energy companies locate their projects in the EnergyPlex because, for more than eight decades, we have worked in the research, production, processing and marketing of energy commodities. Energy is our heritage. It’s also our future.

The new energyture relies on full-spectrum investment across the energy value chain. From assets to attitudes, no other region in America is more poised to develop the U.S. energy economy than the EnergyPlex.

Hobbs is one of the top areas in the Southwest for industrial development and organizations such as the Hobbs Chamber of Commerce and the Economic Development Corporation of Lea County, among others, continue to champion the growth and prosperity of this region.