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The New Mexico Economic Development Department (NMEDD) has published the most recent series of county economic reports with detailed economic and employment data for all 33 counties, as well as a statewide snapshot for the first quarter of the 2021 fiscal year – July, August and September 2020 – during the COVID-19 public health emergency, NMEDD said in a news release.
Data from Doña Ana County (DAC) shows gross receipts for the county, which includes Las Cruces, Sunland Park, Hatch, Santa Teresa, Mesilla and other communities, has continued to increase during the pandemic, the report said.
The statistical information is compiled from several sources, including the U.S. Bureau of Labor Statistics, U.S. Bureau of Economic Analysis, New Mexico Department of Workforce Solutions and Taxation and Revenue Department.
DAC gross receipts have trended upward over the last eight quarters, the report said.
From the fourth quarter of FY20 to the first quarter of FY21, gross receipts increased by $36 million or four percent.
Retail trade and construction continue to be the largest contributors to the county’s gross receipts, at 42 percent through the first quarter of FY21. That is a decrease from 47 percent in the fourth quarter of FY20.
The retail trade industry saw the largest growth, an increase of $24.4 million, when the first quarters of FY20 and FY21 are compared, as gross receipts tax revenue rose by about $531,000 (five percent) from the fourth quarter of FY20 to the first quarter of FY21. Overall, from the first quarter of FY20 to the first quarter of FY21, the year over year growth for DAC was $814,000, or almost eight percent, the report said.
DAC gross receipts revenue from agriculture, forestry, fishing and hunting grew 122 percent, from $2.175 million to almost $4.8 million, from the fourth quarter of FY20 to the first quarter of FY21.
Arts, entertainment and recreation (AER) were down 44 percent for the same period, from almost $6.07 million to almost $3.375 million for DAC. AER was down statewide 57 percent, including 72 percent in Santa Fe County and 71 percent in Bernalillo County.
Statewide, 14 counties saw a year-over-year increase in matched taxable gross receipts, though the state as a whole saw a decrease of nine percent. Despite the overall drop, the largest category, retail trade, recorded a seven percent increase in GRT collections.
The state’s gross domestic product decreased by seven percent year- over-year in the fourth quarter of 2020.
See the full report at edd.newmexico.gov.