Carlsbad, New Mexico Boasts Highest Retail Sales Increase for 4th Straight Quarter

CARLSBAD, NM, July 27, 2012 (Press-News.org) Retail sales numbers have increased for the fourth consecutive quarter in Carlsbad, according to data provided by the New Mexico Taxation and Revenue Department. Sales numbers showed an increase of 25% over the prior year's numbers in Carlsbad, a trend officials feel will continue.

"In July 2010, we had a leakage study done to see which areas Carlsbad was losing money in," said Jeff Campbell, marketing director for the Carlsbad Department of Development (CDOD). "Retail-wise we were literally losing millions of dollars to other markets. What that meant was not only was Carlsbad's market not drawing any sales in, but we were losing our consumer base to other markets like Roswell, El Paso, and Lubbock. Carlsbad has the second highest median household income in New Mexico ($51,000), and we want to keep those dollars here."

Since the time of the CDOD-commissioned leakage study, several retail oriented businesses have opened in Carlsbad. These businesses include Petsense, All American Cleaners, Sarina's Donuts, IHOP, Lowe's Home Improvement, Tractor Supply Company, and others.

The Carlsbad market has also seen significant growth in the hospitality industry as well. Within the last 18 months, Fairfield Inn & Suites by Marriott and Hampton Inn & Suites have both opened and remain busy with occupancy rates in the mid to upper 90s.

"Carlsbad has a very solid economic base, and has for several years," said Campbell. "Not only are we seeing big gains in retail sales and hospitality, but industries like oil and gas, potash mining, manufacturing, health care, and nuclear give us great diversity to remain strong. In the last five years our unemployment rate has never gotten over 6.6%, and businesses are opening up in our market at times when other markets are struggling."

The Greater Carlsbad Service Area, which serves the population living within 15 minutes of its center, includes nearly 41,000 residents. Carlsbad receives nearly 500,000 visitors each year due in large part to the Carlsbad Caverns National Park, located just minutes southwest of the city.

"It has been a real turnaround recently in the retail arena," said Campbell. "We have been blessed with a strong economy here, and we are not only retaining sales in our market, but we are also starting to pull from Artesia." Artesia, New Mexico, is located approximately 20 minutes north of Carlsbad, with a population over 12,000.

The Carlsbad Department of Development is a member supported non-profit organization. Members represent over 100 chief executive officers in industry, business and finance, the City of Carlsbad, Eddy County Board of Commissioners, New Mexico State University-Carlsbad, and other organizations. The Carlsbad Department of Development is your first contact for business assistance in Carlsbad and Eddy County.

The Carlsbad Department of Development promotes the economic and general welfare of the citizens of the City of Carlsbad and South Eddy County, New Mexico.

Website: http://www.developcarlsbad.org