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The Rio Rancho area was originally part of the Alameda Grant, which was founded by the Spanish in 1710. By the early twentieth century, much of the land grant had been sold to land investment companies. AMREP Southwest, Inc. purchased 55,000 acres in 1961 and turned the land into a housing development called "Rio Rancho Estates" with the first families moving in the early 1960s. The population grew tenfold between 1970 and 1980, and the City of Rio Rancho was incorporated in 1981. The opening of a large Intel Corporation plant in 1981 had a major economic impact on the city.
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