Can you believe that the first half of 2013 is already behind us? We have six more months remaining in the year and they are promising to be busy ones.
During June, the IBA was invited by the Federal Reserve Bank of Dallas to participate in a series of global trade seminars and trade shows in southeastern New Mexico. In these trying economic times, it was exciting to see the economic boom taking place in the communities of Carlsbad and Hobbs. The potash industry in Carlsbad and the petroleum industry in Hobbs are creating jobs and generating revenues for the residents of these cities.
What was particularly interesting on this trip was the number of business leaders who were focusing on diversifying the economies of these two cities, even as the extractive industries boom continues. It is this type of vision that helps communities reliant on extractive industries avoid severe crashes when the economic cycle of these industries starts a downturn.