A MESSAGE FROM THE PRESIDENT & CEO

Greetings,

Greater Albuquerque is continuing to experience large amount of prospect inquiries. We have also concurrently worked to expand our outbound business development efforts, representing the region at multiple site selection and end user conferences, and responding to 38 new opportunities on behalf of the region.

AREA's Board of Directors convened earlier this week and was honored to welcome Rob Black, the recently appointed Cabinet Secretary for the Mexico Economic Development Department, as well as Jason Espinoza representing New Mexico IDEA, our state's professional association for economic development. Discussions reinforced the top focus that all entities have on the need for investment in site readiness in New Mexico and greater Albuquerque, and strategies for ensuring outcomes in 2025. A lengthy agenda of updates from AREA's many Advisory Councils and Task Forces created as outcomes from our June Board Retreat and Town Hall were shared, demonstrating the strong momentum occurring on a number of fronts from talent attraction and insights work, advancing the bio-industry sector, aligning regional partners, and exploring solutions for downtown revitalization - to name a few.

For detailed updates on AREA's activity in Quarter 3, I encourage you to review our Q3 Report online.

In the meantime - our Annual Dinner and 505 Awards is only weeks away; if you have not registered or secured a corporate table, time is running out! Register today and read more about the awards and the honorees that will be recognized at www.abq.org/505awards.

With gratitude,

Danielle Casey, CEcD, EDFP

Congratulations to the 505 Awards honorees!

These people & organizations have been a crucial part of greater Albuquerque's community & economic growth. We will be presenting each of winners with their award at our event  Sandia Resort & Casino on Thursday, November 14 from

5:30 - 9 p.m. for our annual 505 Awards!

Albuquerque Regional Economic Alliance Receives

International & Statewide Recognition

The International Economic Development Council (IEDC) recognized Albuquerque Regional Economic Alliance (AREA) with two Excellence in Economic Development awards at its annual conference last month. AREA Received the Bronze Award in the Economic Development Organization (EDO) of the Year category for entities serving a population of 500,000 or more. In addition, AREA received the Bronze Award in the Multimedia Promotion category for its creative and collaborative 2024 AREA and CBRE Interactive Joint Talent Program. Additionally, AREA received additional recognitions at the New Mexico Statewide Governor’s Conference on Economic Development, produced by New Mexico IDEA, the statewide economic development professionals association. The organization received the top award for its overall marketing program designed to promote a local community or region, as well as for its contribution to regional collaboration in the retention and expansion of Array Technologies.

“Albuquerque is seeing so much success as we see interest in the region not only nationwide but globally,” said Don Tarry, CEO, PNM and AREA Board Chair. These honors illustrate what we already know, AREA, working closely with state and local government economic development groups, is leading the way for the region’s economic development success.”

Albuquerque Regional Economic Alliance Hosts Site Selection Consultants for a Successful Fall Tour

Twice annually, AREA coordinates and hosts a regional tour for national site selection consultants to educate them about our regional economic development value proposition and assets, and to also show them some old fashioned New Mexico hospitality and experiences that can only be had by making a trip to our enchanting state. CHECK OUT THE AMAZING VIDEO COMPILING HIS POSITIVE IMPRESSION AND EXPERIENCE in the region by William Floyd with Vista Site Selection, one of the tour participants. Throughout the 2.5 day tour, investors and community partners of AREA had the opportunity to engage with these four consultants with a goal of developing and growing long term relationships for future business investment opportunities. Many thanks to the consultants for attending, and to all of our partners for making it a huge success!

Curious about what AREA has 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.

New Mexico is featured in the current issue of Trade & Industry Development magazine - digital AND print!

AREA has a 1/4 page ad in the editorial. Kudos to New Mexico Partnership for their amazing write-up!

Our own Chad Matheson also has an editorial on thier website regarding site readiness!

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

BRONZE INVESTOR (NEW)

Since 2024

Special Thanks to Continuing Supporters for Their Recent Contributions:

New Mexico Mutual

Rio Grande Jewelry Supply

Geltmore, LLC

Price Land & Development Group, inc.

Site readiness dominates week's coverage : Yahoo! Finance highlighted New Mexico's development efforts, focusing on site readiness and healthcare. Economic leaders noted the state takes longer than others to prepare sites for business, but efforts like a $500,000 study and calls for larger infrastructure investments aim to improve this. Maxeon Solar Technologies remains committed to its $1 billion solar project in Albuquerque despite financial setbacks. Additionally, Albuquerque broke ground on a Touro College of Dental Medicine branch to address the state's dental care shortages.

City, business leaders bet big on tools aimed at improving Downtown Albuquerque:

Arrive Enterprises is investing $30 million to remodel the former Hotel Blue, a historic Route 66 landmark in Downtown Albuquerque. The renovation will turn the building into a modern 134-room hotel with additional restaurant and retail space, set to open next year. This project is seen as part of a broader effort to revitalize Downtown Albuquerque, where officials and business owners aim to improve safety and economic growth. Key strategies include creating a new Business Improvement District (BID) and a Tax Increment Financing (TIF) District to fund public services and infrastructure, encouraging private investments and enhancing the area’s appeal for tourism and commerce.

Kairos Power to expand New Mexico operations, create 100 jobs: Kairos Power LLC is expanding in Albuquerque, New Mexico, building three facilities and creating 100 jobs. The project, with a $478 million economic impact over ten years, includes a salt production facility and a TRISO Development Lab for advanced reactor technology. Kairos will hire staff with an average salary of over $100,000 and offers internships with UNM and CNM. The expansion receives $3 million in state funding, $500,000 from Albuquerque, and additional tax credits and incentives.

ICYMI ( In Case You Missed it)

Dekker

Various Roles

Homewise

Various Roles

2024 AREA Economic Impact Outcomes

(since Jan. 1, 2024)

Upcoming Partner Workshops & Programs

SCORE upcoming FREE webinars for business:

October 22nd: How to Increase Business Sales By Crafting a Compelling Sales Message

October 29th: The 5 Best Pricing Methods - How to Choose a Pricing Strategy for Your Business

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

Register here:

 https://nmdotstar.com/event/

See all upcoming trainings:

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

December 4, 2024: Maximizing the Benefits of State Programs: JTIP, WIOA, and Other Funding Tools, 10 a.m. Register here

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.

Next session:

• February 5, 2025: Tools for Attracting and Retaining Talent to Your Company, 10 a.m. Register here

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.

Following the live webinars, a recording of each program will be published online and listed on the AREA website for future reference and use by businesses, here: https://www.abq.org/local-business/

Series supported by Wafd.

Thank you to our contributors

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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