The event features concerts, competitions, rodeos, carnival rides, games, farm animals, horses, agriculture, art of the American Southwest, New Mexican cuisine, and New Mexico music.

[3] The original fairgrounds, also known as Traction Park, were southwest of Old Town Plaza and were promoted as a year-round destination by the Albuquerque streetcar company in order to boost ridership on their line.

[4][5] In 1917, the fair was canceled and replaced with a "great patriotic demonstration" marking the recent U.S. entry into World War I.

The new fairgrounds were built in 1936–38 with Works Progress Administration funding which was secured in part due to the efforts of Governor Clyde Tingley.

In August 2021, the Governor's office announced the state fair would require proof of vaccination for attendance, with some exceptions for religious or medical reasons.

The boxcars were filled with gifts and distributed to each of the 48 U.S. states at the time, along with a 49th car that was shared by Hawaii and the District of Columbia.