Growth Continues in Carlsbad, New Mexico

    CARLSBAD, NM, June 01, 2016 /24-7PressRelease/ -- Manufacturing, retail, and restaurant growth are at the top of the economy in Carlsbad, New Mexico. Market indicators show that Carlsbad continues to expand while maintaining lower unemployment figures than surrounding communities. With the oil industry experiencing steady production, Carlsbad has proven that being economically diverse is the formula for success in terms of growth.

Since oil rig counts and production have dropped off beginning in mid-2014, many communities have suffered as they are heavily reliant upon this commodity. Carlsbad has been successful in the face of this trend, as the market relies on more than just one industry. Other industries, such as nuclear, potash, manufacturing, retail, and construction have flourished in Carlsbad lately, as the community has seen an influx of new businesses.

"Oil production around Carlsbad has remained busy and prices are hopefully on their way back up," said Carlsbad's Mayor, Dale Janway. "We are planning the next energy summit for September and already have a lot of interest from industry leaders. Carlsbad's a great place to live and work with unlimited potential."

Earlier this year it was announced that Ross, Maurice's, Melrose Fashions, and Famous Footwear would be opening in Carlsbad by the end of 2016. Late in 2015, Buffalo Wild Wings opened to a market starved for more dining options. Opening this summer will be Anytime Fitness and Lucy's New Mexican Bar and Grill at the Cascades, an open-air marketplace being developed as a destination point for visitors along the Pecos river.

CVS Pharmacy is currently under construction as well.

Local growth has also been occurring. The City of Carlsbad is constructing a new large-scale waterpark for residents and visitors to enjoy during the hot months ahead. This park is accompanied by a splash pad at the city's Bob Forrest Sports Complex as well.

"If you drive through town right now, you'd be hard-pressed to find any area where there isn't a business in the process of going in or a business that has recently moved in," said Mayor Janway. "Carlsbad still has a lot of energy and momentum, and that's thanks to our economic diversity and the strong work ethic of our citizens."

On the industrial front, Carlsbad has seen areas of expansion recently in the aviation area. In April, the Carlsbad Department of Development (CDOD) attended the MRO of the Americas show in Dallas, TX. The aviation themed tradeshow, which was attended by over 13,000 and had 830 companies represented, has already paid dividends for Carlsbad. Celtech Corporation, which houses 75,000 square feet of facilities, comprised of 12 buildings, was represented by its parent company, Atec Inc., at the show. Since then, the CDOD has been working towards assisting Celtech expand operations.

The nuclear industry continues to grow as well. WIPP, the Waste Isolation Pilot Plant, is scheduled to resume its full operations later this year. This is welcome news to the community as a whole, and other businesses will also see an incline in their operations upon WIPP's re-opening.

Carlsbad is full of companies that provide a terrific synergy for others looking to relocate. The market has a well-trained and educated employee base with skills needed in the manufacturing world. State incentives are available based on industry and employee type, as well as local incentives like no municipal impact fees and Industrial Revenue Bonds (IRBs). Carlsbad continues its unprecedented market growth, as both industrial and retail sectors are expanding. Carlsbad, in Eddy County, has been leading oil production in the state of New Mexico for three years, and Eddy County continues to rank high in the nation for oil production.

For additional information regarding this release
Carlsbad Department of Development / News Division
Office: 575-887-6562
Email: [email protected]
Web: www.DevelopCarlsbad.org

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

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