Minnesota vs New Mexico on USAspending: $2.74B vs $3.93B

Minnesota’s larger Census count against New Mexico’s concentrated stock

New Mexico’s $3.93B stacked total is about 1.44 times Minnesota’s $2.74B. Minnesota’s Census count of 5,793,151 is about 2.72 times New Mexico’s 2,130,256. Intensity therefore moves with dollars and against people: $945.82 per capita in New Mexico and $66.07 in Minnesota. That is a wide published gap. The ratios are packet figures of USAspending.gov obligations beside Census population, not outlays per resident.

Minnesota still files more awards, 98,897 against 19,233, about 5.1 times. A thicker Upper Midwest file does not overtake New Mexico on stacked dollars or on the per-capita ratio. Rows and dollars remain separate columns. Minnesota’s $2.74B is a real stock; it is smaller, and it is spread across more than twice the people.

FY2026 then makes the concentration visible in a single year: $2.01B in New Mexico versus $382.8M in Minnesota.

Pharmacy benefit administration versus commercial construction

Minnesota’s lead NAICS is pharmacy benefit management and other third party administration of insurance and pension funds. New Mexico’s lead NAICS is commercial and institutional building construction. PBM and third-party administration is Minnesota’s peak on $2.74B and 98,897 awards. Construction is New Mexico’s peak on $3.93B and 19,233 awards. An insurance-administration peak versus a construction peak is a different industrial pairing than most of this batch.

Those labels are the largest NAICS slices, not complete profiles. The Minnesota and New Mexico state hubs list agencies and recipients. Both peaks are USAspending.gov obligation mixes.

FY2026: $2.01B in New Mexico, $382.8M in Minnesota

Fiscal year 2026 obligations are $2.01B in New Mexico and $382.8M in Minnesota. Recency is lopsided. $2.01B is about 5.3 times $382.8M, versus 1.44 times on the all-years $3.93B versus $2.74B. A large share of New Mexico’s stacked stock sits in the latest fiscal year in this packet.

Read FY2026 as an obligation year slice, not as Treasury cash. Do not divide $2.01B or $382.8M by 19,233 or 98,897 all-years awards. Spending per capita of $945.82 and $66.07 already uses Census counts of 2,130,256 and 5,793,151.

98,897 Minnesota awards on a cooler ratio

Minnesota’s 98,897 awards and 5,793,151 residents make it the larger state on those two counts. New Mexico’s 19,233 awards and 2,130,256 residents make it the smaller state on those counts. Dollars still favor New Mexico, $3.93B to $2.74B. Intensity still favors New Mexico, $945.82 to $66.07. Recency still favors New Mexico, $2.01B to $382.8M.

A PBM-heavy Minnesota file can be busy without being the larger or hotter obligation stock. Readers ranking only by awards or population will put Minnesota first. Readers ranking by dollars, dollars per resident, or FY2026 will put New Mexico first.

Minnesota’s 98,897 awards and 5,793,151 residents make it the larger state on those counts. New Mexico’s $3.93B, $945.82 per capita, and $2.01B in FY2026 make it the larger and hotter obligation file. Pharmacy benefit management and other third party administration of insurance and pension funds versus commercial and institutional building construction is the remaining contrast on $2.74B versus $3.93B. A PBM-administration list can be long without carrying the stock. A construction list can be short and still carry $2.01B in a single fiscal year. Obligations, not outlays.

How to read Minnesota versus New Mexico

Read New Mexico first on stacked stock ($3.93B vs $2.74B), spending per capita ($945.82 vs $66.07), and FY2026 ($2.01B vs $382.8M). Read Minnesota first on awards (98,897 vs 19,233) and population (5,793,151 vs 2,130,256). Note pharmacy benefit administration versus commercial construction. All cuts are obligations.

The comparison hub holds the tables. The Minnesota and New Mexico hubs hold state detail. Outlays are a different series.

A PBM-administration file versus a construction concentration

Minnesota’s pharmacy benefit management and other third party administration of insurance and pension funds peak is an unusual NAICS lead in this batch. It sits on $2.74B and 98,897 awards. New Mexico’s commercial and institutional building construction peak sits on $3.93B and 19,233 awards. An insurance-administration file can be long without being the larger stock. A construction file can be short and still carry $3.93B, $945.82 per capita, and $2.01B in FY2026.

Minnesota’s 5,793,151 residents versus New Mexico’s 2,130,256 make Minnesota the larger Census state. That headcount, combined with the smaller $2.74B stock, produces $66.07 per capita. Keep those ratios labeled as USAspending.gov obligations beside Census population. Outlays are not substituted. The Minnesota and New Mexico hubs list agencies and recipients.

Questions

Does Minnesota or New Mexico have more federal spending?

New Mexico leads stacked USAspending.gov obligations $3.93B to Minnesota’s $2.74B. New Mexico also leads spending per capita, $945.82 versus $66.07, on 2,130,256 residents against Minnesota’s 5,793,151. Minnesota has more awards (98,897 vs 19,233). FY2026 obligations are $382.8M in Minnesota and $2.01B in New Mexico.

Why is New Mexico so far ahead per capita?

New Mexico’s $3.93B sits on 2,130,256 residents; Minnesota’s $2.74B sits on 5,793,151. Packet ratios are $945.82 versus $66.07. FY2026 obligations are $2.01B versus $382.8M. The figures are USAspending.gov obligations beside Census population, not outlays per resident. Cite only the packet ratios; do not treat them as cash per resident or as a forecast.

What industries lead in Minnesota and New Mexico?

Minnesota’s top industry is pharmacy benefit management and other third party administration of insurance and pension funds. New Mexico’s is commercial and institutional building construction. Those labels sit on $2.74B and $3.93B. Award counts are 98,897 in Minnesota and 19,233 in New Mexico.

Are Minnesota vs New Mexico figures Treasury outlays?

No. The $2.74B and $3.93B totals, and FY2026 amounts of $382.8M and $2.01B, are USAspending.gov obligations. Outlays are cash payments and can lag. Spending per capita ($66.07 vs $945.82) uses Census population where present. Spending per capita uses Census population where present and should not be read as cash per resident.