A MESSAGE FROM THE PRESIDENT & CEO | | |
Greetings,
Strong economic development programs and policies are critical for any community's competitive economic development position, and are valued resources for site selection consultants and decision makers.
We are thrilled that the New Mexico 2025 Legislative Session has proven to be very successful in setting a path for a strong economic future.
AREA partnered closely during the session with New Mexico IDEA (our statewide association of economic development professionals) and the New Mexico Economic Development Department in conducting education and research supporting several landmark pieces of legislation that will significantly enhance site readiness across the state. More information on these passed bills is available below, and the team at AREA is here to answer any questions you may have.
Our organization is also making a strong impact on quality of life initiatives, with the creation of a new downtown Albuquerque Business Improvement District under development for launch in the fall.
To promote all of these recent positive steps, AREA hosted its first of two annual Site Selection Familiarization Tours just last week, receiving a big thumbs up from visiting consultants regarding the advancement in economic development initiatives in New Mexico, and quality of life investments in our region.
As we work to attract new industries and support business expansion, ensuring that infrastructure is in place and sites are development-ready remains a top priority - and we are mobilizing!
Onward,
| | Danielle Casey, CEcD, EDFP | | BILLS IN SUPPORT OF SITE READINESS PASS | | |
Recently, Governor Michelle Lujan Grisham has signed four impactful pieces of legislation - aligned with significant funding appropriation - to support economic development in New Mexico:
Senate Bill 169 – Strategic Economic Development Site Readiness which creates a dedicated funding mechanism and a structured process for identifying and preparing strategic economic development sites across New Mexico.
Senate Bill 170 – NMFA Definitions, Funds & Rates which enables the New Mexico Finance Authority to offer low-interest loans to rural electric cooperatives for infrastructure deployment and streamlines regulatory processes for utilities to pre-deploy infrastructure to certified sites.
House Bill 19 – Trade Ports Development Act establishes trade port districts and create the Trade Ports Advisory Committee. It facilitates public-private partnerships to develop trade ports and creates the Trade Ports Development Fund to provide grants and loans supporting infrastructure and economic expansion.
House Bill 20 – Technology & Innovation Division creates the technology and innovation division within the economic development department and enacts a related funding act, providing for match funding for certain projects and creating the technology innovation prize.
| | THE FUTURE OF DOWNTOWN ALBUQUERUE | | From L to R: Josh Parsons, Councilor Baca, Art Tatum, Danielle Casey, Brad Segal | | AREA HOSTS SPRING FAM TOUR | |
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Welcome new member to AREA staff
Meet Charles Spann, AREA'S new Business Development Project Manager, who will leverage his background in strategic planning, operations management, and business development to drive economic growth in the greater Albuquerque region.
Read More About Charles
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DOCUMENTARY COMING SOON:
A History & Vision for Greater Albuquerque's Economy
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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. Well, now is the chance to see the full version at out next Building a Regional Econonmy event at Revel Entertainment!
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
...also......
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The timing of the May event couldn’t be better! It’s the perfect opportunity to celebrate greater Albuquerque’s economic progress alongside our valued partners, investors, and supporters.
We are happy to participate in IEDC's Economic Development Week and will be sharing some social media posts leading up to and during that time! We would love for you to share a quote or video message about what economic development means to you. Submit your quote or video message here by May 1st.
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Investors: Bundle Your Event Tickets!
Tired of having to register and make payments for various events and programs throughout the year? Would you rather pay ONE invoice and be done with it? No problem! Fill out our new BUNDLE TICKETS BULK ORDER FORM and we will invoice you all at once for all events requiring paid registration (to cover AREA’s hard cost) for the full year.
https://www.abq.org/contact/bundleticketsform/
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NEW Investor Opportunity:
Share Your Services Overview
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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!
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Supporter Spotlight
Thank you to our generous contributors
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Special Thanks to Continuing Supporters for Their Recent Contributions:
Alvarado Realty
ARGUS Investment Realty
Carlo, Inc.
Colliers International Albuquerque
Moss Adams
New Mexico Mutual
New York Life Insurance Co.
Sunflower Bank First National 1870
The Edward Group
University of New Mexico - Career Services
| | IN THE NEWS: HEADLINE HIGHLIGHTS | | |
With new laws, New Mexico steps up site readiness - mostly: Several new bills redefining New Mexico’s economic competitiveness were signed into law by New Mexico Gov. Michelle Lujan-Grisham last week. The bills largely aim to polish New Mexico’s appeal to potential business investors. Senate Bills 169 and 170 establish a swath of priorities, protocols and funds for bolstering the state’s inventory of shovel-ready sites in the hopes of wooing businesses to do their dealings in New Mexico.
General Mills' manufacturing facility impacts more than just breakfast tables: The General Mills Inc. manufacturing facility in Albuquerque has been up and running for 33 years, and its impacts go far beyond the breakfast table. General Mills manufactures commercial foods, including a long list of America’s favorite cereal brands and other breakfast staples. It was founded in 1866 in Minneapolis, Minnesota, and the company now touts over 100 brands in about 100 different countries.
Building a Strong Trade Future for New Mexico: New Mexico’s new Trade Ports Development Act creates strategic trade hubs to boost local economies, improve infrastructure, and strengthen supply chains. Prioritizing rural and underserved areas, the law uses public-private partnerships to create jobs and increase trade resilience amid global uncertainty.
Why States Should Evaluate Workforce Development and Job Training Incentives
A Pew webinar revealed that many workforce incentives are costly, underused, and have limited impact on job growth. Experts recommend better data, simpler processes, and using grants instead of tax credits to improve effectiveness.
Tilt-up milestone: Array Technologies' HQ advances: Garrett Development and Ryan Companies hit a key milestone in building Array Technologies' new Albuquerque HQ, expected to finish by year-end. The project supports local jobs and economic growth. Array reported strong 2024 revenue and expects 20% growth in 2025, with plans to produce fully U.S.-sourced solar trackers.
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CALLING ALL AREA AMBASSADORS:
Apply Today
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Who are AREA Ambassadors?
AREA Ambassadors are goodwill representatives of the organization, aligned with its mission. They champion AREA’s cause of growing the economy of the greater Albuquerque region. Ambassadors are educated in economic development initiatives, strategies and priorities through workshops and forums. Through these programs, Ambassadors are able to speak firsthand of the work of AREA and can promote the greater Albuquerque area through an economic lens. FIND OUT IF YOU MEET THE REQUIREMENTS, AND APPLY TO SERVE TODAY!
| | | 2025 AREA Economic Impact Outcomes | |
Business Expansion Highlight – Raven Defense Corp.
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Raven Defense Corp., one of New Mexico’s fastest-growing companies, has announced a major expansion of its operations with the lease of a 33,987-square-foot facility at 5411 Jefferson St. NE in Albuquerque. This marks the company’s third location in the city and follows a previous 25,000-square-foot expansion in 2022, continuing its impressive growth trajectory.
Founded in 2018, Raven Defense specializes in advanced satellite communications and missile flight testing solutions for the U.S. Department of Defense. Between 2021 and 2023, the company achieved a remarkable 331.7% increase in revenue. The new facility will support workforce expansion, product development, and increased inventory capacity.
Aerospace and defense are among the most impactful industries in the greater Albuquerque region. For every 20 new jobs created in this sector, regional business sales are projected to increase by $31.3 million, supporting an additional 46 indirect jobs and generating an estimated $6.22 million in total labor income through broader economic ripple effects.
AREA proudly congratulates Raven Defense on this exciting milestone. With nearly 60,000 square feet now under operation in Albuquerque, the company is further strengthening the region’s reputation as a hub for high-growth technology and defense firms.
Read more here.
| | Upcoming Partner Workshops & Programs | | AREA's Annual Premier Supporters | | |
Diamond
Public Service Company of New Mexico (PNM)
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Platinum
University of New Mexico
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Gold
Albuquerque Journal • Bank of Albuquerque
Blue Cross Blue Shield of NM • Bradbury Stamm Construction • Comcast
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
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Community Partners
City of Albuquerque • City of Belen • Bernalillo County • Town of Edgewood
Village of Los Lunas • City of Rio Communities • Sandoval County •Torrance County
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Albuquerque Regional Economic Alliance
201 Third Street NW #1900, Albuquerque, NM 87102
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