Retail, Restaurants Continue to Grow in Carlsbad, New Mexico

Carlsbad, NM, January 2024 – Growth in Carlsbad continues at a high rate. Already boasting the fastest growth in the state at 15.8% according to the most recent US Census numbers, Carlsbad has a number of new retail and restaurant businesses opening in 2024. Coupled with a balanced approach to industrial growth, area residents and leaders are primed for more. The Carlsbad Department of Development (CDOD) works as the primary business recruiting tool for the Carlsbad market. The CDOD is preparing to attend the International Council of Shopping Center’s (ICSC) Red River show taking place January 31st thru February 2nd. 

Thousands of developers, site selectors, brokers and municipalities attend this show on a regular basis, and the CDOD has experienced great success here over the years.

Heading into the ICSC Red River show, Carlsbad is already looking at several new entities scheduled to open for business in 2024. Planet Fitness and HTeaO are the more notable names of businesses that opened in 2023. Heading into 2024, Dunkin Donuts, U-Haul, McDonald’s and others are looking to open their doors in the vibrant Carlsbad market. The opportunities for growth are evident in nearly every aspect of the growing Carlsbad market.

“Carlsbad has always been a great place to invest in. Especially now more than ever, with the fastest growth rate in the state, the community continues to provide endless economic opportunities,” said Carlsbad Mayor Rick Lopez. “Carlsbad is on the edge of another significant increase that will further diversify its market and benefit its residents.”

The CDOD has been attending the ICSC Red River show for over a decade, and this year they look to make a big statement, especially since Carlsbad leads the way in state growth. Carlsbad also leads in new business growth.

In a recent study released by the financial consulting firm SmartAsset, Eddy County’s (in which Carlsbad is seated) business growth ranked second in New Mexico. The county’s rank of 4.5% growth is highest in the southeast portion of the state. Additionally, the county also ranked second in incoming business investment at 29.24%.

“Eddy County and Carlsbad NM are blessed with many abundant resources and industries which are leading to rapid growth,” said Eddy County Commission Chairman Bo Bowen. “Currently Eddy County New Mexico is ranked 2nd in the nation in overall Oil and Gas production. When you couple that industry with our thriving Potash Mines, and SIMCO (low level Nuclear Waste Storage) it is easy to see why Eddy County and Carlsbad have become the leaders in new business growth statewide.”

The backbone for the county’s growth is based on the industrial diversity within the economy. Potash mining, nuclear storage, oil and gas, and manufacturing are the main pillars associated with the major industrial base in the area. Strong growth within the medical and aviation fields bolster this base as well, and the Carlsbad Caverns National Park, the Living Desert Zoo and Gardens State Park, Sitting Bull Falls and other outdoor attractions make Carlsbad a true destination.

Carlsbad and Eddy County are poised for future growth and have a positive outlook moving forward.

The Carlsbad Department of Development is the economic development agency for the City of Carlsbad and Eddy County, New Mexico.

For additional information regarding this release
Carlsbad Department of Development / News Division
Office: 575-887-6562
Email: jeff.campbell@developcarlsbad.org