During Economic Development Week Carlsbad, NM Celebrates Its Growth During the Pandemic
Friday, April 30, 2021
The sixth annual National Economic Development Week is May 9-15, 2021. National Economic Development Week was created in 2016 by the International Economic Development Council — the largest professional membership organization for economic developers — to recognize the unique role that economic development has in creating flourishing communities with strong economies.
The Carlsbad New Mexico Department of Development is doing the work every day to support its business owners and residents. The COVID-19 pandemic has been a trying time, but through it all, Carlsbad’s diversified and robust economy continued its trajectory of growth. With so many companies succeeding, Carlsbad’s well-paid workforce has a high disposable income. Combine this with a tourism industry that attracts adventurers and nature-lovers alike, and you have incredible growth opportunities for real estate developers, retailers, restaurants, hotels, and other businesses.
Highlight of Projects Completed During COVID-19
Just the total of the largest projects on this list comes out to $45,312,929 invested in the Carlsbad community; and there was even more development than what is highlighted here.
- Five new hotels that are either opened or under construction including:
- Mainstay Suites where work is underway on the 80 planned units at a valuation of $5.2 million.
- Home 2 Suites by Hilton, a 99 room hotel with an estimated cost of $2 million.
- Hyatt House Hotels with 104 units and a valuation of $15.5 million.
- Pecos Vista Apartments encompass 24 new buildings and 204 units with total costs of $12,000,000.
- Jenkins RV Park contains 60 RV spaces. This project is 100% complete with a valuation of $484,000.
- Single family development includes:
- Cielo Lindo development will create 152 new single family lots. The Planning and Zoning Commission has approved the final plat for Unit 1 of this development that will create 52 new single family lots for sale.
- Martin Farms Subdivision where 141 new single family residential lots were created. Homes are currently being built.
- Farmview Subdivision Phase 6, south of Farmview Subdivision Phases 1-4, has 114 new single family lots where homes are currently being built.
- Commercial development including:
- New Dollar General.
- T-Mobile Business with a project valuation of $1,228,929.
- Big O Tires with a project valuation of $1.2 million.
- Wienerschnitzel with a project valuation of $1.2 million.
- JP Stone Community Bank revitalized the old Carl’s Jr. building with a project valuation of $500,000.
- Corporate offices including:
- Chevron located offices in a 27,480 sq. ft. facility within the Carlsbad Airport Industrial Park. Project valuation is $3.1 million.
- Cimmarex Energy Field Office is located within the Carlston Ranch Master Planned Community. Valuation of the project is $2.9 million.
Carlsbad Department of Development is Equipped to Assist
If you have questions about any of the mentioned projects or have a project of your own to discuss, now is the time to reach out. The area is growing, the economy is booming, and there is room for additional businesses to succeed in Carlsbad. In addition to manufacturing and real estate development, Carlsbad Department of Development (CDOD) is also working to promote the creation of homegrown businesses by working with any entrepreneur who is considering starting a company or buying into a regional franchise. Call them at 575-887-6562 or click here to email.