A MESSAGE FROM THE PRESIDENT & CEO

Greetings,

2024 has been an incredible year! First and foremost, I must express deep gratitude to the AREA Board of Directors, all of our investors, key community partners, and of course the AREA staff that make it all happen.

A personal highlight for me was AREA’s achievement of the status of Accredited Economic Development Organization with the International Economic Development Council – the 79^th in the globe and the first in New Mexico – and our receipt of several awards in 2024, notably receiving the Bronze Award for Economic Development Organization of the Year, globally, from the International Economic Development Council.

AREA is delighted to share that the projects we have impacted in 2024 are estimated to create $921 million of new capital investment to the region and 1,800 new direct and indirect jobs in the first three years alone. These announcements and expansions included firms such as Array Technologies, Kairos Power, Ebon Solar, Rocket Lab, and Spring Oaks Capital.

This work, aligned with the primary goals in AREA 1.0, is already delivering significant impact to the region. I am proud to report that more local and state partners are taking notice and joining forces with us every day as we lead discussions, research and initiatives related to site readiness, talent attraction, and downtown revitalization.

Site Readiness is a hot topic across the region and the state, so much so that we are delighted to see that Governor Michelle Lujan Grisham has included a recommendation for $24 million for site characterization and predevelopment work for Site Readiness in her recently released FY26 Executive Budget Recommendation. AREA has worked directly and in partnership with numerous organizations to be a provider of data and resources making the case for the need for this initiative in order to secure new corporate investment and jobs in New Mexico. Read more in a recent blog post by our own Chad Matheson.

AREA has recently launched a new Talent Insights Advisory Council and has executed a formal Memorandum of Understanding with Central New Mexico Community College for data sharing and collaboration on workforce development initiatives in the region. This partnership aims to align CNM’s education and workforce training programs with the current and projected needs of the local economy, thereby enhancing learner job placement rates and supporting the region's economic growth.

As you will see below, we are also thrilled to pay a key role in assisting with conversations related to the need for a downtown Albuquerque Business Improvement District, as an important quality of life asset for the entire greater Albuquerque region. A key working group is actively discussing priorities for the area from the perspective of the goals and desires of property owners and businesses in downtown. Much more to come in early 2025! Our first Quarterly Event will be held April 3 in the same location as our 2023 Quarterly Event, but with a big change: an empty office shell in 2023 on the top floor of 500 Marquette, the space will be fully constructed and furnished as the new home to FBT Architects, who have decided to be part of the needed investment in our downtown. Stay tuned for a great lineup of speakers, including Brad Segal, President of Progressive Urban Management Associates, the expert firm assisting with the BID exploration process.

We have already lined up exciting programming for next year with our first event kicking off Jan. 17, a full-day immersive and accelerated Economic Development 101 Training Program. I hope to see you there, and throughout 2025, as we accelerate these key efforts to improving our economic position and outcomes for the region.

Wishing you the Happiest of Holidays,

Danielle Casey, CEcD, EDFP

Did you know that AREA is a 501c3 public charity?

Don't miss this opportunity to make a tax-deductible impact in support of AREA before the end of the year. Your support can be dedicated to specific programs, or wherever it is needed most. Contributions can be made directly to AREA, or by designating a portion of your charitable giving to Albuquerque Regional Economic Alliance as a 501c3 recipient. In addition, non-anonymous donors will be recognized on AREA's website and at our annual 505 Awards and Annual Dinner Celebration.

Ever wanted to know more about the nuts and bolts of economic development and growing an economy? Join AREA for its inaugural accelerated ‘Economic Development 101 Training Course’ as part of our Building A Regional Economy series of educational community programs.

Spend a day with us to learn the many different aspects of economic development from how we support the attraction of industry to the region to the theory and practice behind the profession.

Attendees will end the day with an advanced understanding of what it means to build a regional economy, how we are executing this work day to day, and even some practical application skills.

Thank you to NM Idea for partnering with us for this event! Also, special thanks to KW Consulting and also Duke City Commercial as refreshment sponsors.

January 17, 2025,9 a.m. – 3 p.m.

Goodwill of New Mexico – Opportunity Center

5000 San Mateo Blvd. NE, Albuquerque

In Case You Missed It:

The Albuquerque Regional Economic Alliance is proud to be a partner and supporter in the efforts of private property owners in downtown Albuquerque to explore the potential for the creation of a downtown Business Improvement District.

Why? Because companies seeking new market expansion opportunities often use the health and vibrancy of a metro’s urban core as an indication of overall community quality of life, and the workforce they are trying to attract want to live in communities with quality of place and activities they can enjoy. From AREA’s perspective, that means that downtown matters to everyone in the entire region as a critical asset for business attraction, retention and growth. BID’s are one of many tools that are commonly used to enhance downtown’s across the country, and offer a potential benefit to enhancing our already unique, historic and culture rich urban core.

Want to learn more? Check out these BID FAQs



Reach out to the private property owners engaged in this effort: abqdowntownbid@gmail.com

See recent coverage on this effort:

• Recent business-focused efforts could help make Downtown ABQ ‘cooler,’ city leaders say
• New Districts proposed in downtown Albuquerque

Curious about what AREA was been up to in the third quarter (July - September) of 2024? Look no further than our publicly available Quarterly Report.

It can be found on the PUBLICATIONS page of the www.abq.org website, along with an extensive menu of additional reports, promotional materials and industry data reports.

For those who attended our 505 Awards, you may have seen a teaser for a documentary we are working on with Comcast about the history of AREA & greater Albuquerque's economic growth. If you couldn't make the ceremony, check it out above.

Special thanks to the participants:

⭐Dale Dekker, Founding Principal of Dekker

⭐Sherman McCorkle, Chairman, CEO, and co-founder of Sandia Science & Technology Park Development Corp

⭐Ron Patel, President of New Mexico United

⭐Danielle Chavez, General Manager at RevelABQ

⭐Debbie Johnson, Vice President with Albuquerque Publishing Co

⭐Kyle Biederwolf, Manager of External Affairs at Comcast

⭐Micah Gray, Advisor with NAI SunVista

⭐Sara Keller, Senior Vice President of Community Engagement at Nusenda Credit Union

⭐Waneta Tuttle, Managing Partner , Tramway Ventures

The full documentary will be coming out in Spring of 2025.

If you any interest in supporting this project, please contact our Marketing email: marketing@abq.org

NEW Investor Opportunity:

Share Your Services Overview

AREA is the regional responder to 100 or more new prospective leads and projects as well as expanding local businesses every year that are poised to make significant

investments in the market.

We have created a new online portal for our contributors and partners to upload Statement of Qualifications materials by category that are then shared in our unique, secure online proposal system with ALL client proposals so they can easily identify local providers, from general contractors, to accounting, to healthcare, and everything in between. Take advantage of this special feature!

Supporter Spotlight

Thank you to our generous contributors

Gridworks

GOLD INVESTOR

Since 2017

Presbyterian Healthcare Service

GOLD Investor

Since 2000

Huning, LLC - GOLD INVESTOR

Since 1998

Special Thanks to Continuing Supporters for Their Recent Contributions:

Acme Iron and Metal Inc.

Albuquerque Business First

Colliers International Albuquerque

Garrett Development Corporation

KPMG LLP

Sunward

Verus Research

Albuquerque was touted as a potential next hotbed for quantum technology by a leading quantum industry publication. Albuquerque in top 7 best locations for quantum tech.

New Mexico Tech Joins in Formation of Statewide Artificial Intelligence Consortium: New Mexico institutions, including universities and national labs, have formed the New Mexico Artificial Intelligence Consortium (NMAIC) to promote AI innovation, education, and economic growth. This collaboration focuses on research, workforce development, public awareness, and job creation, aiming to position the state as a leader in AI. The inaugural meeting was held on December 16 at New Mexico Tech.

City approves TIF funds for development projects: The Albuquerque City Council approved a tax increment financing (TIF) district for Downtown development, covering 321 acres. The TIF will reinvest 75% of tax revenue growth into the area, focusing on small business support and revitalization. The initiative, championed by Mayor Tim Keller and Councilor Joaquín Baca, aims to stimulate economic activity without increasing taxes. Local leaders are optimistic about its potential to attract investment and boost the economy.

ICYMI ( In Case You Missed it)

Nusenda

Various Roles

Dekker

Various Roles

2024 AREA Economic Impact Outcomes

(since Jan. 1, 2024)

Upcoming Partner Workshops & Programs

February, 2025, 10 a.m.:

Tools for Attracting and Retaining Talent to Your Company

Please join us for one or all of this series of virtual training programs aimed at reaching a wider audience of companies at one time to provide information on the Job Training Incentive Program, WIOA resources, small business support and assistance through groups like WESST, and the free resources and tools that AREA provides such as its job training board and online ABQSites.com tool.

All webinars are FREE to all businesses in the greater Albuquerque region, with a focus on marketing to those in areas with low household and individual incomes to assist in entrepreneurial growth.

Missed our last two webinars? Find them here: https://www.abq.org/local-business/

Series supported by Wafd.

See all upcoming trainings:

https://clients.wesst.org/events.aspx

SCORE upcoming FREE webinars for business:

January 8, 2025: Understanding the 5 Most Common Legal Forms of Business

January 9, 2025 : Google Analytics for Small Businesses - How to Improve Your Website Traffic



For more information, visit: https://www.score.org/business-education

AREA's Annual Premier Supporters

Diamond

Public Service Company of New Mexico (PNM)

Platinum

University of New Mexico

Gold

Albuquerque Journal • Bank of Albuquerque

Blue Cross Blue Shield of NM • Bradbury Stamm Construction • Comcast • ExxonMobil

FRENCH Funerals & Cremations • Gridworks • Heritage Real Estate Company • Huning, LLC • Intel • Jaynes Construction • NAI Sun Vista • New Mexico Gas Company • Nusenda Credit Union

Presbyterian Health Services • Summit Electric Supply Co. • Titan Development

Community Partners

City of Albuquerque • Bernalillo County • Town of Edgewood

Village of Los Lunas • City of Rio Communities • Sandoval County

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