The purpose of the Socorro County Strategic Economic Development Plan is to provide specific  recommendations on how to best grow the overall economy of the County in order to benefit residents living in each of its communities. This document is essentially a plan for action on how best to utilize the County’s strengths and overcoming challenges in growing its economy. The City of Socorro, the Village of Magdalena, and Socorro County in general are well positioned to take advantage of the growing prominence of the Central Rio Grande Valley. Recently, the City of Socorro has taken remarkable steps to ensure a vibrant economic future not only for the City itself but for all the County. It has hired a Tourism Director, and the Chamber of Commerce has hired an Economic Development Coordinator, both of whom work together to develop ideas and projects to implement for the economic good of each community. This Strategic Plan consists of recommendations for the County and its communities to implement and are comprised of both short-term and long-term actions.

Socorro County is second largest county in the State of New Mexico in terms of land area. The County seat is the City of Socorro, which is also the largest City and retail base for the County. The Village of Magdalena is the other incorporated community, located west of Socorro. The County also has a chapter of the Navajo Nation located within its boundaries. The Alamo Chapter of the Navajo Nation is located approximately 57 miles to the northwest of the City of Socorro.

This economic development plan is intended to be used by stakeholders in Socorro County. It is intended to build upon the strengths of the County and its communities while providing clear strategies that will help the County meet economic development challenges. In providing economic development strategies, this section analyzes current economic conditions, identifies strengths and challenges, and seeks out opportunities that economic development stakeholders in the County can capitalize upon to facilitate economic growth.

Socorro County’s economy is driven by two dominant sectors. The first being education, health care and social services, which accounts for 30.9% of the total labor force, with the second being retail trade and professional scientific research sectors which makes up almost 20% of the industrial base.