Economic Development Week: Carlsbad, New Mexico, Announces Record Growth
Monday, May 09, 2022
It’s Economic Development Week! Created in 2016 by the International Economic Development Council (IEDC), EDW recognizes the unique role that economic development organizations have in creating flourishing communities.
The Carlsbad Department of Development (CDOD) is doing the work every day to support our business owners and residents by working as the primary marketing engine for Eddy County, New Mexico. Here, companies are succeeding. A balanced approach to industrial growth combined with a tourism industry that attracts adventurers and nature-lovers alike produces incredible growth opportunities for real estate developers, retailers, restaurants, hotels, and other businesses.
Carlsbad and Eddy County Growth by the Numbers
According to the most recent US Census numbers, Carlsbad had the fastest growth in New Mexico at 15.8 percent. Additionally, in a recent study released by the financial consulting firm SmartAsset, Eddy County’s business growth ranked number one in New Mexico. The county’s 5.9 percent business growth is nearly double any other county in the state. Eddy County also ranked first in incoming business investment clocking in at 58.3 percent.
This promising forecast has residents and leaders primed for more. Carlsbad has several new retail establishments and restaurants opening in 2022. Wing Stop, Papa John’s Pizza, a second O’Reilly Auto Parts, and Big Lots are some of the more notable names heading up the list. Big Lots will fill in a void in the Carlsbad Mall left by the closing of Bealls a couple of years ago.
“Big Lots is a great addition to our community, and there’s a lot of excitement building about all
of the new businesses coming to Carlsbad,” said Carlsbad Mayor Dale Janway. “Our community
is continuing to grow due to all of our economic diversity, and we’re pleased to remain a land of
International Council of Shopping Center’s Red River Show
In the first quarter, CDOD attended the International Council of Shopping Center’s (ICSC) Red River show where thousands of developers, site selectors, brokers, and municipalities regularly participate. The CDOD has been attending the ICSC Red River show for over a decade, and this year they looked to make a big statement since Carlsbad leads the way in state and new business growth.
“We had a great time at the Red River show,” said Jeff Campbell, CDOD Director of Marketing and Business Development. “We were able to meet with parties involved with ongoing projects in Carlsbad, as well as start new conversations with others. Overall, another great show for us.”
Celebrating Carlsbad During Economic Development Week
The backbone of the county’s growth is the industrial diversity within the economy.
Potash mining, nuclear storage, oil and gas, and manufacturing are the main pillars of the industrial base in the area. Strong growth within the medical and aviation fields
bolsters this base as well. Tourism flourishes in Eddy County because Carlsbad Caverns National Park, Living Desert Zoo and Gardens State Park, Sitting Bull Falls, and other outdoor attractions make Carlsbad a true destination.
In 2021 and continuing into 2022, the area saw significant leaps in housing with new apartments, an RV Park, and single-family developments. Five new hotels expanded to Carlsbad, including Mainstay Suites, Home-2-Suites by Hilton, and Hyatt House Hotel.
Carlsbad Department of Development: Equipped to Assist
If you have questions about 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, the CDOD is working to promote the creation of homegrown businesses by assisting 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.