Jim Gibbons was born and raised in Sparks and attended Nevada public schools and universities. He earned a B.S. in Geology from the University of Nevada, Reno, and a Master's degree in Mining/Geology from the University of Nevada’s Mackay School of Mines. Gibbons went on to earn his J.D. from Southwestern University School of Law and completed his post-graduate work at the University of Southern California.

Gibbons has twice used the initiative petition process to restrict government. First in 1994, he co-authored the Gibbons Tax Restraint Initiative, which requires a 2/3 super-majority to increase any state tax or implement new taxes. In 2004 he co-authored the Education First Initiative, preventing the Legislature from holding the education hostage during budget negotiations.

Gibbons is a former combat pilot and decorated veteran of both the Vietnam and Persian Gulf Wars. He served in the United States Air Force from 1967 to 1971 and graduated from the USAF Air Command and Staff College, as well as the Air War College. Gibbons joined the Air Guard in 1975, attaining the rank of Colonel, and served as the group's Vice Commander from 1990 through 1996.

Throughout his military service, Gibbons received 19 service medals, including the Legion of Merit, Distinguished Flying Cross, Air Medal with Two Oak Leaf Clusters, Aerial Achievement Medal and Air Force Commendation Medal with One Oak Leaf Cluster. He was also awarded the Distinguished Flying Cross for his extraordinary achievement while participating as an RF-4C Flight Leader in the Gulf War.

His experience in the military makes him a knowledgeable and effective advocate for Nevada's premier military training bases, NAS Fallon in Churchill County and Nellis AFB just outside Las Vegas in Clark County.

Gibbons also spent many years working in the private sector as a commercial airline pilot, a hydrologist for the Federal Water Master, as a mining and exploration geologist and as a mining and water rights attorney in Nevada.