Revival of state’s construction industry continues
New Mexico’s construction industry continues to rebound, with the percentage of job gains for the 12-month period that ended in May sixth best in the nation.
The state added 3,200 construction jobs over the 12 months, a gain of 7.4 percent. The best state for the period was Rhode Island, which boosted employment 12 percent, and Oregon, Nevada, New Hampshire and Louisiana rounding out the top five.
Construction has joined health care and hospitality as the top growth sectors in the state, and the boost comes just as hiring in mining and energy has stabilized and is no longer a drag on employment in New Mexico. In fact, for the 12 months ending in May, the mining sector, which includes oil and gas exploration, is down just 300 jobs, according to the state Department of Workforce Solutions.
The biggest drag on the state is government jobs, with state and local governments posting job losses over the previous 12 months. The state-funding pinch on local school districts has been especially costly; local education jobs have declined by 600 the past year, a drop of 1 percent.
Spending in construction also is helping the state’s bottom line. Gross receipts taxes paid from the sector are up 2 percent so far this fiscal year. April was an especially strong month for state revenue overall, with recurring revenues up $42.1 million, or 7.7 percent, from a year ago. Overall revenue is now tracking at $134 million, or 2.4 percent, above the last consensus forecast that guides the governor and lawmakers when they set spending.
That means the state general fund is likely to end the 2017 fiscal year with more cash in the bank than expected after the recent special session. It will still be under the 5 percent reserve level targeted, but better than when Gov. Susana Martinez was considering possible furloughs just two months ago.
A more detailed look at state finances will be released in late August when economists for the Legislature and the governor’s administration put together the next consensus revenue forecast.
The Art and Antique Outdoor Flea Market in Santa Fe has set up summer quarters at the old Santa Fe Greenhouses property, 2904 Rufina St.
Organizer Lesley Martin said 40 vendors were up and running this past weekend, and the market will continue through Sept. 24. The focus is on arts and antiques, but they have a diverse blend of merchants from booksellers and jewelers to chile sellers and breakfast burritos.
The market is open from 8 a.m. to 3 p.m. Saturdays and Sundays. It also will open on Fridays starting in August. The best draw for the space might be that it is right around the corner from Meow Wolf, so the thousands of patrons heading to the interactive exhibit can extend their day by visiting the flea market as well.
The Santa Fe Greenhouses property has been in limbo since David Salman and his family closed the business in 2012 to focus on their mail-order company, highcountrygardens.com.
The land recently was sold to Phase One Realty, but that agency is in escrow with another local buyer for purchase of the entire parcel, with a closing expected in about two weeks. Martin said the flea market has been given permission to stay through the summer, so the property transfer won’t affect the merchants or those who come to shop.
Interested vendors should email valerie@travelersmarket.net.
The area will get another boost in July when Second Street Brewery opens its new manufacturing facility and tap room on Rufina Street. The project began last year, and owner Rod Tweet recently completed an application for a $100,000 state economic development grant that will help pay for the $1.8 million expansion.
The facility will bring five new manufacturing jobs and 30 service jobs.