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Coronavirus’ economic impact on New Mexico

Coronavirus’ economic impact on New Mexico 1

ALBUQUERQUE, N.M. (KRQE) – New Mexico is feeling the ripple effect of the coronavirus. From the budget to tourism and the food industry, local businesses are worried this is going to hurt.

Before the coronavirus made its way to New Mexico, the economic effects were already being felt throughout the state.

The stock market’s plunge has sent shockwaves around the world which has taken a toll on the oil industry, something the state heavily relies on. In response to the plunge, the Governor has cut roughly $ 150-million from the budget just to add extra cushion for the state’s emergency funds.

With Wednesday’s public health emergency declaration, some are worried smaller businesses will take a huge hit.

“This situation is going to hurt any tourism-related business,” said George Brooks, Director of Ski New Mexico.

Brooks said New Mexico has had a great ski season but now, they might not bring in as many out-of-state visitors.

“We have had some cancellations and each of the resorts are handling those cancellations differently,” said Brooks.

For places like Marble Brewery, one of Albuquerque’s local watering holes, they said so far customers have continued to come in.

“We have not as of this moment experienced any dip or decline,” said President of Marble Brewery, Barbie Gonzalez. “I think people understand what we’re about and we’re all about safety. We’re all about delivering that experience and that’s not something we’re willing to compromise. The first thing we’re trying to do is remain calm.”

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Along with Marble Brewery, other restaurants and bars KRQE News 13 talked to said they have always kept up with their cleanliness standards and are even more cautious now than ever.

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