Bureau of Business and Economic Research

Document Type

Technical Report

Publication Date

11-1-2004

Sponsorship

New Mexico Economic Development Department

Publisher

University of New Mexico. Bureau of Business and Economic Research.

Abstract

This study has two main objectives: 1) to evaluate the strengths and weaknesses of the retail and services sectors in Grants, and 2) to consider ways to improve conditions faced by businesses in the communitys downtown. The economy of Grants (or any other community) can be understood in terms of its exchange of goods and services with other areas. To the extent that businesses based in Grants sell goods and services to consumers from other areas, money flows into the economy and creates growth. Conversely, to the extent that consumers in Grants buy goods and services from elsewhere, money is lost to the community and the economy contracts. Economic development policy seeks to increase the former and limit the latter. Successful policy creates jobs, increases the local payroll, generates new demand for local goods and services, and increases the flow of gross receipts tax revenues to local government.'

Comments

This study was commissioned by the New Mexico Economic Development Department (NMEDD) on behalf of the Grants Mainstreet Project (GMP).

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