Santa Fe’s economy seeing major growth

SANTA FE, N.M.- Business is finally booming once again in Santa Fe, with the retail, hospitality and construction industries all seeing major growth.

"We are way ahead of our year-to-year forecast and outperforming even pre-Covid financial spending and revenues," said Mayor Alan Webber.

According to the New Mexico Tax and Revenue Department, in April, taxable gross receipts for Santa Fe businesses was more than $306 million. That’s an increase of 50% from April 2020 and up nearly 11% from April 2019.

"People outside Santa Fe want to come here,” said Webber. “They want to come back and enjoy the unparalleled hospitality that we offer and all of our local residents are happy to get out, go to their favorite restaurants or take their kids to a show, and enjoy Santa Fe. It’s a really remarkable recovery. I don’t think anybody’s ever seen the likes of it, not just in Santa Fe but in cities all across America."

Webber says he expects the spending trend to continue.

"And don’t forget, we have not even yet seen what happens when we are able to return to the Indian Market, the Spanish Market, the Folk Art Market, the Opera opening up," the mayor said. "I think this is going to be a real remarkable year in terms of people saying we came through COVID with flying colors, and now we’re seeing the benefit of that hard work and resiliency. It’s coming back to Santa Fe big time."