By: Mathew Turner 06/12/2014 The economic forecast in many areas around the nation is bleak despite the establishment media’s constant drumbeat focused on spreading recovery propaganda to the masses. Fortunately, the Santa Fe area’s economic prospects are looking bright. According to the Bureau of Labor Statistics (BLS), the April, 2014 unemployment rate in the Santa Fe area was 4.6%; well below the New Mexico statewide unemployment rate which came in at 6.8% and even better than the Albuquerque metro area rate which rolled in only moderately better than the NM statewide rate at 6.1%. The US national average unemployment rate is 6.3% for both April and May of 2014 respectively. We have long understood that an unemployment rate at 5.0% is considered essentially “healthy” and a rate that drops too low (like 2.0%- full employment) creates an environment in which businesses find it too difficult to find employees. At present, minimum wage in Santa Fe for all businesses affected by the living wage ordinance remains at $10.61 per hour. Despite the criticism from the many naysayers before the ordinance went into effect, one business owner seemed to sum up a differing account of the impact of the relatively new law from Sperling’s Best Places Report; “As a business person, my experience has shown that the living wage ordinance actually improves the bottom line, in that employees are more motivated and there’s much less problem with folks not showing up to work (e.g. due to problems making rent, cars breaking down and not being able to afford repairs, etc.) and it has reduced turnover / improved employee retention. Moreover, it’s just a better business climate when employees are happy; they have a better demeanor and attitude and it shows in their relations with customers. From a business perspective, I can say it’s improved things in our city. More cities should consider adopting such ordinances. The Chicken Little ‘sky is falling’ crowd who lobbied so heavily against it and out spent proponents 3 or 4 to 1 (but were still defeated!) can look around and see that the ordinance has, in fact, not “decimated” our economy as they claimed it would; Santa Fe is thriving! It should be noted that Santa Fe’s living wage ordinance only applies to employers with at least 25 employees, so very small businesses have a chance to get off the ground when they are just starting out. I believe that is a good compromise.” In sum, the opportunity costs of imposing the ordinance were greatly outweighed by the economic benefits. At present, new housing developments are under way in Santa Fe off Hwy 599, at Airport Rd and Paseo Del Sol West, off Agua Fria St, Richards Ave, and other locations around the area. The interesting twist being that it is homes between 200k and 300k that are selling more quickly than anything else on the market. Indications are that the luxury home market is recovering, but at a much slower pace. Homes in the Santa Fe area are projected to rise in value from the 2nd quarter of 2013 through the 2nd quarter of 2016. The upwards trend has been forecast with 83% accuracy. That is, there is an 83% chance the trend will occur as forecasted. The city has made substantial investments in creative methods to grow its own population like making funds available to non-profit organizations like Homewise and the County’s Housing Trust in order to enable Santa Feans with the financial means to own a home within the city or county despite the area’s prohibitively high housing costs- especially for those middle class residents and individuals entering the housing market for the first time. The emphasis of these organizations in creating stability for their clientele (they do not lend adjustable rate mortgages etc.) has made an unprecedented difference for the better in the local economy. According to Homewise, the ability to help 1000 homeowners purchase in Santa Fe adds an additional $64.7 million to the economy annually. The same Homewise report tells us that between 1999 and 2006, Santa Feans’ household income increased by approximately 24% and during the same period, the sales price of single family homes jumped 90%. The role of organizations like Homewise and the County Housing Trust became even more essential in the city’s efforts to keep Santa Feans in Santa Fe and to attract others from other locations to purchase homes in the area- essentially mitigating the effect of inflation in the housing market during the economic glory days prior to 2008 to some extent and continuing to add to the city’s property tax base throughout the recession that ensued after to the present day. And now we are seeing the results. The city and state also offer a wide variety of tax credits and incentives (some of the most competitive in the region) to incentivize individuals to start businesses or organizations to move to Santa Fe. All in all, a low residential property tax environment, an effort by the city, county, and non-profit groups to grow the local population through home ownership, plenty of attractive economic incentives for businesses to locate themselves in the area, and a stellar focus on residents’ quality of life have helped the Santa Fe area through some tough times. Remaining weaknesses include an over reliance on US Government related jobs, a somewhat poor secondary education system, and potential over emphasis on the tourism and hospitality sector. The city could make some tremendous gains by growing private sector employment not affiliated with providing government agencies with goods or services and not connected with hospitality and tourism. To conclude, the economic future of the Santa Fe area looks bright. There is still plenty of ground in which to grow momentum forward, but plenty of fundamentals are already in place due to well thought out policy that will allow the economic development of the area to proceed forward.
- Globalist fascists and leftist followers begin media censorship campaign
- Another blow to globalism as climate change schemers can’t convince Trump
- A Government of Lies
- Popular Rejection
- Spark a Fire
- Federal Power Grab
- An Eye for an Eye
- Obama, Hillary: No Love Lost
- Sandoval County Focuses on Economic Development
- Time to Catch the Big One
- More Work Needed to Harness Southwest’s Energy Potential
- Contract Talks Come To A Standstill
- Rough Landing…
- Home of The El Paso Chihuahuas Named Ballpark of the Year
- Fort Bliss is Ready to Confront Changing Times
- Wild Earth Guardians Makes New Bid To Protect Mexican Gray Wolf
- Taos Farmers Market to Stay
- Economic Growth, Housing Rebound? Foreclosures Fall
- Germany Spied On The White House For Several Years June 22, 2017Der Spiegel reportedly views 4,000 selector keywords for BND surveillance between 1998 and 2006Mikael Thalen
- Murders Hit Record High in Mexico June 22, 20172,186 homicides in May...Adan Salazar
- Sweden: Migrants Viciously Beat Disabled Man While Calling Him Racist June 22, 2017"I am a Muslim, f**k Swedes!"Paul Joseph Watson
- London Tower Fire Survivors to Be Resettled In Luxury Housing Development June 22, 2017Decision comes in response to leftists' demandsDan Lyman
- Leftists Continue To Push Insane Russian Hacking Lie June 21, 2017Liberals will not let go of the witch-hunt.Kelen M
- US Satellites Detect Activity at North Korea Nuke Test Site June 21, 2017Movement was detected near an entrance to an underground tunnelMikael Thalen
- Soros says Britain nearing tipping point, may reverse Brexit June 21, 2017'The moment of truth is fast approaching,' Soros said.Adan Salazar
- Is This The Final Proof That Hitler Escaped To Argentina? June 21, 2017A new discovery fuels the theory that Hitler faked his death.Kelen M
- Leftist ‘Day of Rage’ Turns Into Day of Epic Failure June 21, 2017Pathetic amount of protesters vow to "overthrow government," go home having been unsuccessful.Paul Joseph Watson
- Last Remaining Police Station in Migrant-Dominated Swedish Suburbs Forced to Close June 21, 2017There are no plans for it to be reopened...Adan Salazar
- US Satellites Detect Activity at North Korea Nuke Test Site June 21, 2017Concern North Korea may conduct test during Wednesday visit by senior Chinese diplomats and military officials.Adan Salazar
- Are Muslim Arms Being Manufactured In The US And Shipped To Mosques Worldwide? June 21, 2017A caller brings attention to an important issue.Kelen M
- Europol: Leftists Carried Out 27 Times More Terror Attacks Than Right-Wingers June 21, 2017Narrative fail: Just one right-wing terror attack in 2016.Paul Joseph Watson
- Video: Rand Paul Berates Senate – “We’ve Been At War Illegally For A Long Time Now” June 21, 2017"Are we going to defeat an ideology by killing people?"Steve Watson
- UK ‘Day of Rage’ Protestors Hope to ‘Bring Down the Government’ June 21, 2017Demonstrations could turn violent in LondonDan Lyman
- Germany Spied On The White House For Several Years June 22, 2017
- Democratic Rep: Pelosi’s Time Has ‘Come and Gone’'I've been very clear that we need leadership change.'
- Fox News’s Sean Hannity is encroaching on Alex Jones territoryHannity: 'A soft coup is under way right here in the United States of America...'
- Trump: Russian Conspiracy Is A “Big Dem Scam And Excuse For Losing The Election”POTUS asks 'If Collusion Took Place, Why Didn’t Obama Stop It?'
- Protesters Blow Whistles As Trump Sends ‘Thoughts And Prayers’ to Rep Steve Scalise"Never fails, never fails."
- Tucker Laughs at Dem Who Argues 0-4 in Special Elections Isn’t BadThere are no “silver linings” for you, dummy.
- Twitter Blasts CNN For Saying Flint Stabber ‘Said Something In Arabic’Reports indicated that witnesses heard the stabber shout “Allahu Akbar” before he attacked, but CNN chose to write “something in Arabic” instead.
- Gohmert: FBI’s Refusal to Label Scalise Shooting Terrorism Suggests DOJ Compromised by Obama Holdovers"There are too many officials from the previous administration in the DOJ."
- Are The ‘Toxic’ Democrats Destined To Become A Permanent Minority Party?Close to 55 million dollars was spent on the race in Georgia’s sixth congressional district, and that shattered all kinds of records.
- Democrats had the Worst May Fundraising Since 2003Follows worst April of fundraising since 2009...
- “Referendum” on Donald Trump Ends in Humiliating Defeat For LeftistsDems go into meltdown mode as Handel defeats Ossoff.
- Democratic Rep: Pelosi’s Time Has ‘Come and Gone’
You are visitor #