Archive for December, 2009

Article Courtesy of the New Mexico Partnership

Map of the Santa Teresa-El Paso-Juarez region depicting the new Border Highway Extension

Recently, the remaining 7.2 miles of the unpaved road stretching west from the border highway in Anapra, formally called, “Prolongación del Boulevard Fronterizo” or “Border Highway Extension” to the Santa Teresa Port of Entry was paved. This road consists of two fully paved lanes with an additional two lanes slated for completion within the next few months. This newly completed road runs parallel to the border fence, connecting the Santa Teresa Port of Entry to Border Highway, sometimes referred to as the Rivereño in downtown Juarez.  A vehicle traveling from Santa Teresa Port of Entry can now arrive at the City Hall in Juarez in less than 20 minutes.

This infrastructure improvement will help reduce the traffic congestion at the El Paso-Juarez international bridges. Commercial traffic generated by maquiladoras located in this corridor can now expedite their flow of materials by utilizing this efficient route between the U.S. and Mexico.

Reports released by the New Mexico Taxation and Revenue Department indicate that the Dona Ana County economy continued to struggle during the third quarter of 2009.  According to the report, total reported gross receipts for all industries were flat when compared to the third quarter of 2008.  For the first three quarters of 2009, total reported gross receipts are 2.4% lower compared to 2008.

Total reported gross receipts from retail trade showed improvement during the third quarter, increasing 4.3% when compared to the third quarter of 2008. Year-to-date total reported gross receipts from retail trade for 2009 are down 2.7% compared to 2008.

The construction sector continues to be very soft.  Although there were no additional job losses between the second quarter and third quarters of 2009, total reported gross receipts from construction and mining were 16.9% lower in the third quarter of 2009 as compared to 2008. Year-to-date total reported gross receipts in construction and mining for 2009 are down 9% compared to 2008.

Compared to the third quarter of 2008, new single family residential permit valuations issued in the county increased 21.6% for the third quarter of 2009, but are down 12.3% through the first three quarters of 2009 compared to 2008. According to data from the Las Cruces Association of Realtors Multiple Listing Information Service for the month of September, 2009 the number of new and existing home sales increased 21.9% compared to the month of September, 2008. In comparison, the average sale price dropped 12.1%, from $228,447 to $200,738.

According to data from the U.S. Bureau of Labor Statics, Dona Ana County’s unemployment rate in September, 2009 was 6.9%, down from 7.3% in June. This is significantly lower than the national rate of 9.8%, and lower than the state rate of 7.7%.  A recent report by the Milken Institute ranking the Las Cruces MSA in the top ten best performing small metros seems to indicate that this trend may continue.

Using a variety of sources, MVEDA tracks and reports changes in labor force, employment, construction permits and total reported gross receipts on a quarterly and annual basis. These economic indicator reports are available on MVEDA website.  The report for the third quarter of 2009 is attached and will be posted on the website in the near future.

Detailed New Mexico gross receipts tax files are available on UNM’s Bureau of Business & Economic Research website. Current and historical labor force data for Dona Ana County (Las Cruces NM MSA) are available on the Bureau of Labor Statics’ website.

Press Release Courtesy of the New Mexico Farm Service Agency

Salomon Ramirez, State Executive Director for the New Mexico Farm Service Agency (FSA), reminds producers that FSA has targeted loan funds for producers that are recognized as Socially Disadvantaged (SDA) farmers or ranchers. These loan programs are designed to help farmers purchase and operate family farms.

With these loan programs, FSA’s mission is to reverse the declining number of farmers and ranchers across the United States and to encourage and assist them in owning and operating their own farms and ranches, participate in agricultural programs, and become integral parts of the agricultural community.

FSA reserves a portion of its loan guarantee funds each year for SDA loans. Ramirez says SDA’s are individuals or entities who are members of a SDA group.  A SDA group is a group whose members have been subjected to racial, ethnic, or gender prejudice because of their identity.  These groups consist of American Indian or Alaska Natives, Asians, Blacks or African Americans, Native Hawaiians or Pacific Islanders, Hispanics and women.

Direct loans are made to applicants by FSA and include both farm operating and farm ownership loans.

Guaranteed loans also may be made for farm ownership or operating purposes, and may be made by any lending institution, subject to Federal or State supervision, who make agriculture type loans (banks, savings and loans, credit unions, and units of the Farm Credit System including the Bank for Cooperatives) and guaranteed by FSA. Typically, FSA guarantees 90 or 95 percent of a loan against any loss that might be incurred if the loan fails.

According to Ramirez, “Repayment terms for direct operating loans depend on the collateral securing the loan and usually run from 1 to 7 years and repayment terms for direct ownership loans can be as long as 40 years.”

Guaranteed loan terms are set by the lender. Interest rates for direct loans are set periodically according to the Government’s cost of borrowing. Interest rates for guaranteed loans are established by the lender.

Farm ownership loan funds may be used to purchase or enlarge a farm or ranch, purchase easements or rights of way needed in the farm’s operation, build or improve buildings such as a dwelling or barn, promote soil and water conservation and development, and pay closing costs.

Farm operating loan funds may be used to purchase livestock, poultry, farm equipment, fertilizer, and other materials necessary to operate a successful farm. Operating Loan funds can also be used for family living expenses, refinancing debts under certain conditions, paying salaries for hired farm laborers, installing or improving water systems for home, livestock, or irrigation use, and other similar improvements.

Applications for all FSA direct loan programs are made through FSA’s local county offices.  Producers interested in these loans should visit their local county office for eligibility, application and related program details.

USDA is an equal opportunity employer and provider.

The City of Las Cruces Public Works Department and URS Corporation will hold a public meeting for the Jackrabbit Interchange (I-10/US 70) Study Project on Thursday, December 10, 2009 from 6:30 – 8:00 p.m. at the Picacho Middle School, W. Picacho and N. Motel Blvd.

Study Team members will provide project information and results of the Phase A investigations.  There will be an opportunity to view proposed alternatives and speak with team members during the open house from 6:30-7:00 p.m.  A presentation on the project will be given at 7:00 p.m., followed by questions and comments.

Background

A study is being conducted of the I-10 / US70 interchange (Interchange No. 135, commonly referred to as the “Jackrabbit” Interchange) to investigate and identify recommended geometric and operational improvements, and to accommodate future traffic growth and the planned High Mesa Road.

The origin of this study is based on recent and ongoing growth experienced in and around the City; evolving land development activity; and pending changes in the regional transportation network. Separate initiatives are presently underway to evaluate improvements to other segments of I-10 serving the City, dispose of large tracts of BLM land destined for new development, and advance planning for High Mesa Road which will access I-10 at or near the Jackrabbit interchange location. Expansion of the I-10 Industrial Park and the Las Cruces International Airport are also anticipated. The desire of the City of Las Cruces, the Las Cruces MPO, Dona Ana County, and the New Mexico Department of Transportation to respond to and plan for the effects of these influences creates the need for this study.

If you require special accommodations please contact Denise Weston at Parametrix by calling (575) 522-7400 or by emailing dweston@parametrix.com.