Pecos is emerging as a regional retail and services cluster due to its strategic location in the center of the Trans Pecos region. Pecos is located at the intersection of IH-20 and US-285. IH-20 connects the Dallas/Fort Worth corridor to El Paso and US-285 connects the Trans Pecos region to New Mexico.
Today, the hospitality industry is realizing significant growth in Pecos. Five national franchises that include the Holiday Inn Express, Hampton Inn, La Quinta, Comfort Suites and the Baymont Inn are entering the Pecos marketplace. Additionally, two existing hotels, the Best Western and the Oak Tree Inn are also expanding. In total, over $25 million in new capital investment and over 50 jobs will be created. The HOT tax collections are projected to increase by 189% nearing $1 million annually at the completion of these new hotels.
The residents of the City of Pecos and Reeves County recently adopted a 2% venue tax that will also contribute to increased HOT taxes that will provide the funding base to redevelop the Reeves County Rodeo Grounds and Convention Center. This new funding base will also facilitate the marketing and promotion of the City of Pecos as the "home of the worlds first rodeo."
The Pecos Main Street is also realizing growth that is attracting mixed-use developments that will include retail, restaurants, business and personal services, as well as loft housing. A small business incubator that will encompass over 3,000 square feet of high quality office space is under consideration. This office will also include a number of private offices and conference rooms to be used by tenants and the community. This project is the result of an emerging partnership with the Sul Ross State University.
Other emerging economic clusters include, education, oil/gas and regional entertainment venues. Pecos is focused on diversifying and expanding its economic base, all of which will contribute to the growth of Pecos and its reemergence as a regional hub.
The City of Pecos is focused at managing its growth and assuring the development and delivery of high quality public services. The City is also focused on enhancing its partnerships with Reeves County, Reeves County Hospital District, Pecos Barstow Toyah ISD and the Pecos Area Chamber of Commerce. These strategic partnerships will be the foundation to produce continued growth and prosperity for the Trans Pecos region.