Like most of east-central New Mexico and west Texas, the vicinity hosts agriculture and ranching , including peanut and cotton farming and cattle ranching, for dairy and meat production. A number of processing plants exist for these products. In 2004, construction began on the Southwest Cheese Company plant geographically located between Clovis and Portales , which commenced operations in late 2005 providing a substantial boost to the local economy employing over 200 personnel. It is one of the largest plants of its type in the world, processingover 2.3 billion pounds of milk annually , provided by the numerous local dairies.
A high proportion of local residents are employed in the services sector . Dillards and Wal-Mart have a large impact among retail consumption in the community, though smaller stores including regional and national supermarket chains do exist. Railroad transport at one time contributed to economic growth in the early years of the towns development and like many small towns still maintains an important role in the economy. In the finance sector, large national and regional institutions such as Bank of America and Wells Fargo are present and manage a large portion of the financial needs of individuals and local businesses The Curry County Chamber of Commerce hosts many events annually that seek to contribute to local economic growth, while the Clovis Industrial Development Corporation works toward the successful union of development and industrial expansion. Cannon Air Force Base and a small Army National Guard unit exist in Clovis. Clovis has recently had an economic boom with many new stores and restaurants as well as new hotels opening in the northern and mid-town areas of the city due to new industry being present and the idea of expansion of the Cannon Air Force Base. This has caused the population to increase to an estimated 42,314 people.
Clovis is adjacent to Cannon Air Force Base, a special operations base . This military installation has a large impact on the community and typically receives a great deal of support from local civic and business leaders. Clovis hosts a local organization, the Committee of Fifty, whose stated purpose is to express support for Cannon AFB. The nearby community of Portales also has a similar organization, the Military Affairs Committee.
The corporate headquarters of Allsup’s convenience stores is located in Clovis.
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