Bureau of Business and Economic Research

Document Type

Technical Report

Publication Date

2-1-2009

Sponsorship

"Funding provided by New Mexico MainStreet, New Mexico Economic Development Department."

Publisher

University of New Mexico, Bureau of Business and Economic Research

Abstract

An analysis of economic conditions in Lovington, New Mexico, commissioned for its MainStreet program. The regional trade area surrounding Lovington (as determined by drive time analysis), and its downtown MainStreet district are described and displayed in color maps. Selected demographic, housing, and economic data for both Lovington and Lea County are examined. An analysis of pull factors revealed that Lovington has a net inflow of gross receipt tax revenues, largely due to oil and gas industry revenues. Lovington faces many challenges, including flat population growth, low educational achievement levels, a severe housing shortage, and the volatility of the petroleum industry. The authors recommend diversifying the economic base and attracting more accommodations and retail businesses to the MainStreet district. Illustrated with tables and charts.

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