BELEN, NM (KRQE) — While some experienced major financial setbacks during the pandemic one New Mexico city said they saw their most profitable year yet. They even have a couple million dollars extra to spend.
The city of Belen announced Tuesday they ended the fiscal year with their best economy ever. The mayor said they brought in nearly $8 million in gross receipt taxes.
“We have spent a lot of years now building up our economic business environment here in belen making sure we have good business support, an open for business attitude,” said Mayor Jerah Cordova.
Mayor Cordova credits the huge boost to the city’s recent growth with local development, and new businesses and houses coming in. Mayor Cordova said with the immense growth they also have their biggest budget surplus to date with more than $2.2 million.
As far as what the city plans on doing with the money, he says it will help fund a long list of infrastructure projects with the majority of them being road projects.
“All of that money is going to go a long way to making sure we continue to improve the community, that we make it an environment that has a good way of life for local residents, a welcoming environment for businesses,” said Mayor Cordova.
Some of that money will also be used to reconstruct flood control ponds and drainage features around the city. Belen has had problems with flooding issues including earlier this month when the water caused a breach of the highline canal. Cordova also said they’ll be repainting the iconic belen water tower as well as hire more city staff.
The mayor said they’ve come a long way over the years. He said 12 years ago they were in a $3 million deficit.