Land exchange spurs NM motorsports industry, mixed-use projects

The New Mexico State Land Office finalized a deal this week that could establish a motorsport industry in the state.

Commissioner of Public Lands Patrick Lyons announced that a land exchange deal with Hot Springs Motorplex Development Properties will form a commercial and industrial zone in Sierra County, in southern New Mexico.

"By transferring these lands, we are able to further spur economic development in both Sierra and Doña Ana Counties, create jobs, increase the tax bases of every community in the region and, at the same time, earn revenue for public education," said Lyons.

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Hot Springs Motorplex will acquire 7,388 acres of trust lands along I-25 near the Truth or Consequences airport. The acreage is valued at more than $2.5 million.

In exchange, the Land Office will obtain 9,228 acres near Tatum valued at more than $1.7 million, and a cash payment of more than $800,000.

"The exchange adds 1,840 new acres of trust and resolves split estate issues by consolidating surface and mineral lands, which is vital to our land management goals," said Lyons.

Proceeds from the sale of public trust lands go to the Land Grant Permanent Fund, which supports public education.

So far the Motorplex has identified plans for the development of 12 square miles of the acreage, which will include the motorplex -- it will comprise several miles of recreational and competitive road courses, an off-road complex and a drag strip; an industrial park for light manufacturing to support Spaceport America, the TorC airport and the Motorplex; a research and development campus; air taxi service; a vintage aircraft museum; a resort hotel with spa, golf course, tennis courts, conference center and a water park; and residential units.

Hot Springs Motorplex is also talking to NASCAR about bringing an operation to the site.

In addition, Roush Racing and Industries is reportedly interested in opening a signature racing school at the site.