Mayor Eric Enriquez, City of Las Cruces | City of Las Cruces
Mayor Eric Enriquez, City of Las Cruces | City of Las Cruces
City Council members gathered for a work session on October 28, 2024, to discuss the economic data and outlook for fiscal year 2025. Monica Torres, an economist with the City's Economic Development Department, presented insights into how business and household investment decisions might be influenced by decreasing inflation and the expiration of the current tax code at the end of 2025. She projected that economic growth would continue but at a more moderate pace compared to recent years.
Torres reported that Las Cruces had seen an increase in new businesses, with 148 established in the third quarter of 2024, nine more than during the same period in 2023. Additionally, she noted a one percent rise in the average median listing price of homes, bringing it to $353,000 from July through August 2024. Gross receipts tax revenue also saw a year-over-year increase of approximately 1.8 percent, totaling $32.8 million.
However, cannabis sales showed a decline from previous figures. The first quarter of fiscal year 2024 recorded total sales around $9.3 million; this year’s equivalent period shows a slight decrease to $8.97 million. Medical-use cannabis experienced the largest drop with a 15 percent reduction year-over-year.
The session also included information about Overdose Prevention Centers (OPCs) implemented in New York City. Kailin See, former Senior Director of the New York program, explained remotely that these centers collaborate closely with police and other officials. She emphasized that when properly implemented, OPCs serve both participants needing life-saving services and community needs including law enforcement and medical facilities.
See highlighted that OPCs help reduce emergency room visits by addressing addiction issues on-site and engage individuals who typically do not seek healthcare by providing safety and stabilization.
City Council's work sessions and regular meetings are accessible on the City's YouTube Channel. The next regular meeting is scheduled for November 4 at Council Chambers.
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