Santa Teresa Port of Entry and Industrial Park economic impact put at $1.1B annually

SANTA TERESA, New Mexico -- The New Mexico State University Arrowhead Center, along with the Center for Border Economic Development, have released an impact study on the Santa Teresa Port of Entry and Industrial Park.

The study found that nearly 6,000 jobs have been created in multiple industrial fields and the area has an annual economic impact of $1.1 billion.

Of that $1.1 billion, $411 million comes from value-added production, which is the result of businesses that were created specifically for the industry in the surrounding area.

According to the impact study, $90 million in taxes were generated last year, of which the federal government took $57 million, New Mexico received $26 million and Texas got $8 million.

Since 2010, the area has produced $24 billion in merchandise trade, which has grown at 5.8% annually.

The impact study indicated approximately 80% of the economic benefits of Santa Teresa accrue in New Mexico, with the remainder in Texas.

Jerry Pacheco, the president of the Border Industrial Association said, ‘It was the first real intense economic impact study that has ever been done on the Santa Teresa Industrial base.  So it was exciting, it took months to complete.”

Kramer Winingham of the NMSU Arrowhead Center helped prepare the impact study and noted one surprise finding during the pandemic.

“You know its always going to be impactful, but what we found is that Santa Teresa has grown in employment throughout the pandemic - which is very impressive when most places have been losing employment during that period,” he explained.