Lea County is noted for its rich oil and natural gas reserves, attracting international oil-related companies such as Texaco/Chevron Conoco, Exxon, Phillips and Halliburton.
Although the economy has benefited from the enormous wealth of the gas and oil reserves, the business community is diversified enough to be a balanced community with major stores mixed in with small individually owned shops, which provides stability against the volatile world market place. The telecommunications business is booming, with both Windstream Telecommunications and LEACO Rural Telephone Service prepared for the 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 new casino and horse racing track. The new casino and race track will attract over 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 at a New Mexico race track. 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 National Enrichment Facility in Lea County indicates the high-tech attitude of the area. This $4 billion facility will process and enrich rods for nuclear power plants throughout the U.S., making our country self-supporting for continued clean and affordable electrical power. Several related industries are also expanding or relocating their businesses for the opportunities to serve Lea County and the nation.
Major cattle ranches and dairy farms dot the rural areas of Lea County, along with agricultural farms that produce cotton, peanuts, chilis, watermelons, and pumpkins. RMS Food processing plant located in Hobbs is the headquarters for Boca Burger Foods, a division of Kraft Foods, which produces many of the non-meat products – a vegetarian and dietary substitute made of soy for worldwide distribution.
Because Lea County is one of the largest counties in New Mexico, 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.