Sandia National Laboratories’ economic impact continues to grow nationally and in New Mexico, spending a record $4.2 billion in FY2022, according to its annual economic impact report.
It was the first time the laboratory, headquartered in Albuquerque, surpassed $4 billion in spending. Spending increased by approximately $300 million since FY2021; over the past five years, the lab’s expenditures have increased by $1 billion.
“Every year we think it’s going to slow down – and it hasn’t,” said Scott Aeilts, Associate Labs Director of Mission Services at Sandia, at Economic Forum of Albuquerque on Wednesday.
Spending isn’t the only way that Sandia broke records last year; the company also saw an all-time high number of employees. Last year, the labs created close to 500 new positions and hired close to 1,900 new workers for a total of 15,533 employees nationwide.
Of that number, the vast majority are employed in New Mexico, with 80.9% – or 12,581 employees – in the state. Over the past fiscal year, Sandia hired more than 1,400 new workers in New Mexico.
Aeilts said that this year, the labs plan to add an additional 500 jobs.
The demographics of Sandia’s employees have shifted over the past five years. Since fiscal year 2017, the company has increased the number of minority employees. The number of minority and female employees in management positions has also grown.
It has also put an emphasis on contracting with small businesses. Of the $4.2 billion in spending, almost half a billion dollars went to subcontracts in New Mexico. More than $419 million of the $483 milllion spent on subcontracts in the state went to small businesses, in industries including computer facility management systems, engineering and construction.
“We’re happy to make sure we can work with the economy because we’re in this together,” said Laura Lovato, manager of Sandia’s supply division and supply chain risk management at the Wednesday meeting.
Sandia uses guidelines from the Small Business Administration to identify which companies can be classified as small businesses. The standards for small businesses can vary based on industry.
