County's lodging, dining sector sees strong growth
July 13, 2022
Quay County’s accommodation and food-services industry saw robust growth during the January-to-March quarter compared to the same period the previous year, reported the New Mexico Economic Development Department.
The accommodation and food-services sector in the county experienced a jump of 45% in its matched taxable gross receipts during the quarter compared to the previous year, the agency reported. That revenue rose by more than $2.1 million.
Those figures confirm what has been observed by many the tourism industry in Tucumcari, who reported a strong bounce-back in business in early 2022 as the COVID-19 pandemic waned.
Retail trade also grew 11%, or almost $1.4 million in tax revenue, during that period compared to a year ago.
Heath care in the county also grew by $1 million in tax revenue, or 63%, during that time.
Quay County also saw a sustained drop in residents receiving unemployment benefits.
Fewer than 50 people in Quay County were drawing jobless benefits by early May 2022, according to the report.
During the height of the pandemic in 2021, that number jumped to well over 350.
The state’s Economic Development Department stated in a news release that 30 of 33 counties in New Mexico saw gains in its matched taxable gross receipts revenue during the January-to-March quarter.
Sandoval County saw the biggest increase, at 44%. Santa Fe County was second, with a 32% rise.
The oil and gas related sectors saw the largest one-year growth in tax revenue by industry, an increase of 92%, followed by arts and entertainment (77%) and manufacturing (42%).
The agency tracks data from the state’s Taxation and Revenue Department, Department of Workforce Solutions, U.S. Bureau of Labor Statistics and the U.S. Bureau of Economic Analysis with additional calculations by state economists.