By Ben Alexander, Headwaters Economics— Debate over a possible new national monument covering the Otero Mesa has erupted again. Given the importance of this issue, now is the time to discuss the economics of how a monument could impact southern New Mexico and whether it would be beneficial to residents.
Let’s start with the area’s economy. The region’s economy has strong ties to the military, though since the mid-1980s these jobs have been declining. In contrast, services and professional sectors and retirement and investment income have grown independent of this decline and provided a complimentary economic alternative to military bases.…