New Mexico’s Housing Market: A Focus on Workforce and Disaster Relief
Keywords: Housing, New Mexico housing, workforce housing, affordable housing, disaster relief, New Mexico business, economic development.
New Mexico, known for its stunning landscapes and rich cultural heritage, has been grappling with various housing challenges, including housing affordability and the aftermath of recent natural disasters. In response to these pressing issues, businesses across the state are stepping up to invest in workforce housing and affordable relief housing.
The Need for Affordable Housing in New Mexico
The need for affordable housing in New Mexico has become increasingly acute. Rising housing costs, coupled with stagnant wages, have made it difficult for many residents to find suitable and affordable places to live. This has had a significant impact on the state’s workforce, as individuals struggle to balance their housing expenses with other essential needs.
Businesses Taking the Lead in affordable housing for employees
Recognizing the critical role of affordable housing in attracting and retaining a skilled workforce, businesses in New Mexico are taking proactive steps to address this issue. Many companies are investing in workforce housing projects, developing affordable housing units near their workplaces. This not only benefits their employees but also contributes to the overall economic vitality of the region.
New Mexico Disaster Relief Housing Initiatives
In addition to workforce housing, businesses are also playing a crucial role in providing disaster relief housing. Following recent natural disasters, such as wildfires and flooding, many communities have been left devastated. Businesses have stepped up to offer temporary housing solutions, provide essential supplies, and support rebuilding efforts.
The Economic Impact on New Mexico and affordable housing
Investing in affordable accommodations and disaster relief homes not only improves the quality of life for New Mexico residents but also has a positive economic impact. By attracting and retaining a skilled workforce, businesses can enhance productivity and innovation. Moreover, investing in disaster relief helps to ensure that communities can recover and rebuild quickly, minimizing economic disruptions.
As New Mexico continues to navigate the challenges of home affordability and natural disasters, the contributions of businesses are essential. By investing in workforce houses and disaster relief, companies are demonstrating their commitment to the well-being of their employees, the communities they serve, and the state’s overall economic prosperity.
New Mexico employee Housing Solutions for Employees working on Disaster relief or other housing needs.
In other news:
Lincoln County leaders and NM lawmakers talk economic impact, building back from fires and floods
A view Aug. 20 of Alto, N.M., which was hit hard by the South Fork Fire in mid-June (Photo by Danielle Prokop / Source NM)
Residents, businesses and local governments in the Ruidoso area continue to struggle with the financial toll of summer wildfires and floods, leaders and experts told lawmakers Tuesday.
The Legislative Finance Committee gathered at the Inn of the Mountain Gods on Mescalero Apache land to hear from local leaders and experts on the aftermath of two wildfires that ravaged the Lincoln National Forest in June.
According to Ruidoso Mayor Lynn Crawford, over 900 homes were destroyed in the South Fork and Salt fires. In mid-July, state officials reported to FEMA that 856 homes were destroyed. Crawford said over 230 homes were subsequently destroyed by flooding.
This number represents both primary homes and secondary or vacation homes, but not outbuildings such as sheds on the same property. Officials estimate that about one-third of homes lost were primary residences.
“We don’t want to add a financial tragedy to that, too,” Crawford said. “We’re already experiencing that in some fashion.”
He noted that revenue for businesses in the area needs to be maintained, not only for the benefit of business owners, but for the village itself, which makes money from gross receipts taxes.
“Revenues are off over 70%, in just an average. Some experience much greater, some less,” Crawford said.
It was brought to lawmakers’ attention that the Inn of the Mountain Gods on the Mescalero Apache Reservation is the area’s largest employer and major economic driver.
Another significant source of revenue in the area is Ruidoso Downs Race Track and Casino, which General Manager Rick Baugh told lawmakers has an annual payroll of $5.5 million and employs over 500 people in peak season.
The race track was largely saved from fire damage, but flooding caused extensive damage to the track, requiring racing to be shut down and relocated to the Downs at Albuquerque.
“The gross receipts tax that the racetrack pays on an average for an annual basis is around $720,000. We pay around $1.6 million in gaming tax and another $1.3 million in purse monies to our owners and trainers,” Baugh said. “Our bridge has been out, which has stopped us from operating for about 25 days.”
With the cooler months getting closer, officials worry Ski Apache, another revenue driver, will also take some hits. Rep. Harlan Vincent (R-Ruidoso Downs) said the New Mexico Department of Transportation will soon start working on restoring the road up to the ski resort, but the department has limited time before snow season begins around November.
President Thora Walsh Padilla of the Mescalero Apache Tribe said restoring the economies of the impacted communities is the main focus right now, but restoring the forests should be next.
“We have an opportunity to build back with respect for the river and with the understanding that every canyon drainage here is an intermittent stream,” Walsh Padilla said. “As we live in this landscape, we must allow the river to have its space, and understand that flood plains are hydrologically important and ecologically productive areas.”