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January 5, 2022

Tarin Nix, Deputy Commissioner of Public Affairs

State Land Office Breaks Record for Highest Monthly Earnings, Over $141 Million in December 2021

SANTA FE, NM – The State Land Office (SLO) has once again announced historic monthly earnings $141,850,441 for December 2021. This money will be deposited into the Land Grant Permanent Fund and will benefit New Mexico public schools, hospitals, and universities, while also continuing to draw additional revenue for the state in the form of investment returns.

The three previous record months for State Land Office earnings were $141.2 million in June 2021, $135.1 million in September 2021 and $132.6 million in October 2021, all under Commissioner Garcia Richard.

December 2021 earnings guarantee the State Land Office is on track to again exceed $1 billion in revenue earned in FY22 for the fourth year in a row.

“I’m proud to announce that despite the ongoing pandemic, the land office earned more in December 2021 than in any month in New Mexico history. This speaks to the growth and success across all revenue streams, including renewable energy, oil and gas, grazing, business leases, rights of way, and more,” said Commissioner of Public Lands Stephanie Garcia Richard. “This is a wonderful way to end 2021. By continuing to earn record-breaking revenue that is invested by the State Investment Council, our agency now has the potential to save New Mexico families even more than the $1,500 we save taxpayers every year. We are excited to continue this growth and our work to diversify our revenue streams by expanding innovative economic development projects and outdoor recreation opportunities on state trust land.”

Commissioner of Public Lands Stephanie Garcia Richard has overseen the New Mexico State Land Office since 2019. In that time the agency has raised over $3.7 billion for New Mexico public schools, hospitals, and universities. Over 13 million acres of state trust land are leased for a variety of uses, including ranching and farming, renewable energy, business development, mineral development, and outdoor recreation. The State Land Office has a dual mandate to use state trust land to financially support vital public institutions, while simultaneously working to protect the land for future generations.