Retail

TARGET RETAIL

The retail trade sector is the nation's largest employer, with 15.3 million jobs in 2006.
The sector is expected to add 1.6 million new jobs, reaching 16.7 million by 2014, and
will continue to be the dominant source of employment and the largest source of
employment growth.

Real output for retail trade is expected to grow at a rate of 4.6 percent annually, rising
from $1.1 trillion in 2004 to $1.8 trillion in 2014.

Major retailers are continuously looking for new opportunities to relocate or expand to
new markets. Competition, new product introductions, and evolving consumer demands
force retailers to look for communities prepared to deliver market share and a growing
consumer base.

Route 66 and the Interstate 40 corridor in eastern New Mexico present an ideal
opportunity to capitalize on such growth. Tucumcari and Quay County, with new
development at Ute Lake Ranch and a growing cluster of renewable energy industries are
beginning to demonstrate a pattern of consistent growth and demand for retail and
specialty services.

The communities of Tucumcari, San Jon, and Logan are prepared to meet the retail
industry’s needs. Their strategies include:

1. Defining what is wanted from retail?

Recruitment - jobs
Retention - jobs
Revitalization of targeted neighborhoods
Main Street Boutiques and Interstate Big Boxes
Addressing pent-up demand for businesses which don’t exist in the trade area –
Clothiers / Groceries / Restaurants / Spas
Increasing the local Tax Base

2. Defining what retailers want?

Land Buildings
Streamlined development review process TIF
Façade improvement grants and loans GRT rebates
Property tax rebates Revolving Loan Funds

3. Organizing for Retail

Identify targets
Assembling the team
Creating the package

Developing incentives for anchor tenants

4. Establishing metrics for success: Jobs / Tax Base / Dollar value of exports

Current Regional Demographics and Trade Area Characteristics
NMEP, the New Mexico Eastern Plains, includes the counties of Curry, De Baca,
Guadalupe, Quay, and Roosevelt
(excerpted from “Tucumcari Mainstreet: Community Economic Assessment” by Dr.
Jeffrey Mitchell, April 2007, UNM Bureau of Business and Economic Research

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