State agency reports positive economic news for San Juan County

FARMINGTON — Economic activity in San Juan County is showing some signs of life, as the county's matched taxable gross receipts increased by 14% in the third quarter of the fiscal year over the previous quarter, according to figures reported by the New Mexico Economic Development Department.

That increase mirrored the economic activity for most of the state, as 27 of New Mexico's 33 counties experienced an increase in their matched taxable gross receipts, according to a monthly report released by the department on June 7. In fact, the MTGR figure for March in New Mexico was $6.4 billion, the highest monthly total since the $6.8 billion reported in December 2019. It also was the largest amount reported for the month of March in any year since Fiscal Year 2008, according to the state.

"While we realize we have much work to do toward economic recovery, these reports clearly indicate that New Mexico is beginning to return to pre-pandemic levels in all economic sectors," Alicia Keyes, cabinet secretary for the Economic Development Department, stated in a press release.

Read full article.