Retail Booms in Hobbs, NM
Hobbs is Southeast New Mexico’s Largest Retail Trade Area
Long-term investments by private industry and local foundations have driven a need for regional shopping, dining and hospitality. As the Permian Basin’s most livable community, Hobbs is also southeast New Mexico’s largest retail trade area at nearly 147,000.
Hobbs, NM, Forecasting Continued Growth & Investment
Hobbs, New Mexico, and Lea County are on an impressive growth trajectory thanks to a prime location in the Permian Basin, the world’s most active oil basin. The energy here isn’t just below the surface — recent catalytic livability investments separate Hobbs from other boom-bust towns, cementing its future as an ideal choice in the Permian.
Recognizing the immense purchasing power in the area, in only the last 12 months, even more national and regional retail clothing, restaurant chains, and brand name hotels have opened their doors in Hobbs. Since January of 2017, Hobbs has added nearly 100 new food establishments and 62 stores.
Hobbs has invested $150 million in massive quality of life amenities, and projects in the works include a $75 million hospital and a $50 million vocational-technical high school.
Average annual salaries in the surrounding region exceed $78,000, and Lea County is projecting a 15.2 percent population increase over the next 20 years.