Sandia National Laboratories has achieved a notable milestone in its economic impact, surpassing previous records with a substantial increase of nearly 400 million dollars in 2024. This accomplishment is attributed to the laboratory’s diverse partnerships, particularly with small businesses, which bring innovative solutions and expertise to its missions. According to Sandia Labs Director James Peery, the laboratory’s success relies on these strong collaborations, including those forged through the New Mexico Small Business Assistance Program and the Technology Readiness Initiative.
The laboratory’s economic impact includes providing 16900 jobs, paying 1.08 billion dollars to small business suppliers, and contributing 133 million dollars in taxes to the state of New Mexico. Peery will unveil the details of the laboratory’s economic impact at a news conference on January 15, highlighting key successes and partnerships, including a recent project launched on the Navajo Nation with the support of Sandia National Laboratories.
Introduction to Sandia National Laboratories’ Economic Impact
Sandia National Laboratories has announced its largest financial impact to date in 2024, with a notable increase from the previous year. This achievement is attributed to the laboratory’s efforts in strengthening national security and advancing technology over the past 75 years. The economic impact includes the creation of 16,900 jobs, $1.08 billion in payments to small business suppliers, and $133 million in taxes paid to the state of New Mexico. This significant contribution to the local economy is a result of Sandia’s partnerships with diverse suppliers, particularly small businesses, which bring innovation, agility, and expertise to the laboratory’s missions.
The success of Sandia National Laboratories can be attributed to its strong relationships with small businesses, which are fostered through programs such as the New Mexico Small Business Assistance Program and the Technology Readiness Initiative (TRGR). These initiatives enable small businesses to collaborate with the laboratory on various projects, promoting innovation and economic growth. The impact of these partnerships will be discussed in detail at a news conference, where Sandia Labs Director James Peery and other leaders will unveil the 2024 Economic Impact Brochure. This event will provide an opportunity for stakeholders to learn more about the laboratory’s achievements and its contributions to the local economy.
The economic impact of Sandia National Laboratories is not limited to job creation and payments to suppliers. The laboratory also plays a crucial role in advancing technology, which has far-reaching benefits for society as a whole. By investing in research and development, Sandia helps to drive innovation and improve the quality of life for individuals and communities. Furthermore, the laboratory’s focus on national security ensures that the country remains protected from various threats, providing a sense of stability and security for its citizens.
The news conference, scheduled to take place on January 15, will feature discussions on the partnerships forged with small businesses through the New Mexico Small Business Assistance Program and TRGR. A small business owner, whose project was recently launched on the Navajo Nation with Sandia’s support, will share insights on the collaboration and its impact. This event will provide a platform for stakeholders to learn more about the laboratory’s achievements and its contributions to the local economy, highlighting the importance of partnerships between large organizations and small businesses.
The Role of Small Businesses in Sandia’s Economic Impact
Small businesses play a vital role in Sandia National Laboratories’ economic impact, bringing innovation, agility, and expertise to the laboratory’s missions. Through programs such as the New Mexico Small Business Assistance Program and TRGR, small businesses are able to collaborate with the laboratory on various projects, promoting economic growth and job creation. The $1.08 billion in payments to small business suppliers is a testament to the importance of these partnerships, demonstrating the significant contribution that small businesses make to the laboratory’s overall economic impact.
The New Mexico Small Business Assistance Program is designed to support small businesses in the state, providing them with access to resources and expertise that can help them grow and succeed. By partnering with Sandia National Laboratories, small businesses are able to tap into the laboratory’s vast knowledge and experience, gaining a competitive edge in the market. This program has been instrumental in fostering innovation and entrepreneurship in the state, creating new opportunities for small businesses and contributing to the local economy.
The Technology Readiness Initiative (TRGR) is another program that plays a crucial role in supporting small businesses. This initiative provides funding and resources to help small businesses develop and commercialize new technologies, bridging the gap between research and development and the marketplace. By supporting small businesses through TRGR, Sandia National Laboratories is able to promote innovation and economic growth, while also advancing its own missions and objectives.
The impact of these partnerships can be seen in the success stories of small businesses that have collaborated with Sandia National Laboratories. For example, a small business owner whose project was recently launched on the Navajo Nation with Sandia’s support will share insights on the collaboration and its impact at the news conference. This story highlights the benefits of partnering with large organizations like Sandia, demonstrating how small businesses can gain access to resources and expertise that can help them grow and succeed.
Economic Impact on the State of New Mexico
The economic impact of Sandia National Laboratories is not limited to the laboratory itself, but also has a significant effect on the state of New Mexico. The $133 million in taxes paid to the state is a testament to the laboratory’s contribution to the local economy, demonstrating the importance of Sandia as a major employer and economic driver in the region. Furthermore, the 16,900 jobs created by the laboratory have a multiplier effect, generating additional economic activity and job creation throughout the state.
The economic impact of Sandia National Laboratories can be seen in various sectors, including construction, manufacturing, and services. The laboratory’s procurement activities, which include payments to small business suppliers, also have a significant effect on the local economy. By investing in local businesses and suppliers, Sandia helps to promote economic growth and job creation, contributing to the overall well-being of the state.
The state of New Mexico benefits from Sandia National Laboratories’ presence in several ways. The laboratory’s focus on national security and technology advancement ensures that the state remains at the forefront of innovation, attracting new businesses and investment to the region. Additionally, the laboratory’s partnerships with small businesses and suppliers help to promote entrepreneurship and economic growth, creating new opportunities for individuals and communities.
The news conference, which will take place on January 15, will provide an opportunity for stakeholders to learn more about the laboratory’s economic impact on the state of New Mexico. The event will feature discussions on the partnerships forged with small businesses through the New Mexico Small Business Assistance Program and TRGR, as well as the impact of these partnerships on the local economy. By highlighting the benefits of partnering with large organizations like Sandia, the news conference aims to promote economic growth and job creation in the state.
The Importance of Partnerships between Large Organizations and Small Businesses
The success of Sandia National Laboratories’ economic impact can be attributed to its strong relationships with small businesses. By partnering with small businesses through programs such as the New Mexico Small Business Assistance Program and TRGR, the laboratory is able to promote innovation and economic growth, while also advancing its own missions and objectives. These partnerships demonstrate the importance of collaboration between large organizations and small businesses, highlighting the benefits of working together to achieve common goals.
The partnerships between Sandia National Laboratories and small businesses have a multiplier effect, generating additional economic activity and job creation throughout the state. By investing in local businesses and suppliers, the laboratory helps to promote economic growth and job creation, contributing to the overall well-being of the state. Furthermore, these partnerships enable small businesses to tap into the laboratory’s vast knowledge and experience, gaining a competitive edge in the market.
The importance of partnerships between large organizations and small businesses cannot be overstated. By working together, these entities can achieve far more than they could alone, driving innovation and economic growth while also advancing their own missions and objectives. The success of Sandia National Laboratories’ economic impact is a testament to the benefits of these partnerships, demonstrating the importance of collaboration and cooperation in achieving common goals.
The news conference, which will take place on January 15, will provide an opportunity for stakeholders to learn more about the laboratory’s partnerships with small businesses and their impact on the local economy. The event will feature discussions on the partnerships forged with small businesses through the New Mexico Small Business Assistance Program and TRGR, as well as the benefits of these partnerships for both the laboratory and the small businesses involved. By highlighting the importance of partnerships between large organizations and small businesses, the news conference aims to promote economic growth and job creation in the state.
The economic impact of Sandia National Laboratories is not limited to the laboratory itself, but also has a significant effect on the state of New Mexico. The $133 million in taxes paid to the state is a testament to the laboratory’s contribution to the local economy, demonstrating the importance of Sandia as a major employer and economic driver in the region. Furthermore, the 16,900 jobs created by the laboratory have a multiplier effect, generating additional economic activity and job creation throughout the state.
In summary, the economic impact of Sandia National Laboratories is a significant contributor to the local economy, promoting innovation and economic growth while also advancing its own missions and objectives. The laboratory’s partnerships with small businesses are instrumental in achieving this impact, demonstrating the importance of collaboration and cooperation in driving economic growth and job creation.
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