A MESSAGE FROM THE PRESIDENT & CEO

Greetings,

As we gear up for our favorite event of the year - Balloon Fiesta - we have a tremendous number of reasons to celebrate.

First, AREA is honored to have received FOUR significant recognition awards this fall. Two of these awards, one through the International Economic Development Council and another from New Mexico IDEA, were in recognition of our work in collaboration with CBRE on a uniquely creative joint regional Talent Profile Report, which has become a commonly used tool for local employers in attracting talent, as well as a top used promotional piece when communicating with new prospective companies. AREA was also recognized by New Mexico IDEA for its role in the regional effort in the retention and expansion of Array Technologies. Finally, we were delighted and humbled to receive the Bronze Award for Economic Development Organization of the Year from the International Economic Development Council for economic development organizations serving a population of 500,000 or greater. This is particularly special to me as in this category we compete with much larger organizations across the country - showing that we are indeed doing something unique and special, and being recognized as a best in class national contender by our peers.

I am also pleased to share that Ebon Solar has received their Industrial Revenue Bond approval through Bernalillo County, and company CEO Judy Cai joined us for our Quarterly Lunch event and shared that they are working to break ground in Q1 of 2025 at Mesa Del Sol. This $1 billion investment will be a significant driver in our economy and leadership in the renewable energy sector.

We are currently preparing to host an exceptional group of national site selection consultants who will have the chance to witness the start of our signature Balloon Fiesta program. But this week, we are thrilled to represent the region at the Governor's Statewide Conference on Economic Development where we are discussing critical statewide strategies from foreign direct investment to site readiness.

With gratitude,

Danielle Casey, CEcD, EDFP

Albuquerque Regional Economic Alliance Receives 2024 Excellence in Economic Development Bronze Awards from the International Economic Development Council

In August, we received not one but two 2024 Excellence in Economic Development Awards from the International Economic Development Council (IEDC). AREA will be formally acknowledged and honored at the IEDC 2024 Annual Conference in Denver, CO, September 15-18.

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, it received the Bronze Award in the Multimedia Promotion category for entities serving a population of 500,000 or more for its creative and collaborative 2024 AREA and CBRE Interactive Joint Talent Profile.

AWARD RECIPIENTS TO BE ANNOUNCED NEXT WEEK

Please join us at Sandia Resort & Casino on Thursday, November 14th from 5:30 - 9 p.m. for our annual 505 Awards! The awards acknowledge both organizations and individuals for their outstanding contributions to the economic growth and prosperity of the broader Albuquerque region. 

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

GOLD LEVEL SUPPORTER

Since 2009

BRONZE INVESTOR *NEW*

Since 2024

BRONZE INVESTOR *NEW*

Since 2024

BRONZE INVESTOR

Since 2005

BRONZE INVESTOR

Since 1994

Special Thanks to Continuing Supporters for Their Recent Contributions:

Amazon

Modrall Sperling Roehl Harris & Sisk, P.A.

New Mexico MEP

New York Life Insurance Co.

Klinger Constructors, LLC

Doc Savage Supply

Duke City Commercial

Eye Associates of New Mexico

Meta

Adelante Enterprises

Gap, Inc.

Manpower of New Mexico

Wells Fargo Bank

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.

Governor appoints Rob Black as Secretary of Economic Development: Governor Michelle Lujan Grisham appointed Rob Black as Secretary of the Economic Development Department, starting September 16. Black, a veteran in public policy and economic development, previously led the New Mexico Chamber of Commerce.

Manufacturing is reshoring in America. But where will the workers come from?: The article examines the rise of reshoring manufacturing to the U.S. and the accompanying challenge of sourcing skilled workers. While reshoring is beneficial for the economy, companies face difficulties finding qualified workers due to insufficient technical training and education. The piece advocates for enhanced investment in workforce development and training programs to bridge this skills gap and support the growing manufacturing sector, noting New Mexico is one of the leaders in this.

Enlight Renewable Energy starts operations at New Mexico solar project: Enlight Renewable Energy has begun its $827 million Atrisco Solar & Energy Storage project near Albuquerque. With 364 MW of solar capacity and 1.2 GWh of storage, it’s expected to be fully operational by year-end and generate $51-55 million annually. The project is financed by $290 million in debt and $420 million in tax equity.

ICYMI ( In Case You Missed it)

New Mexico Mutual

Various Roles

Bank of Albuquerque

Various Roles

2024 AREA Economic Impact Outcomes

(since Jan. 1, 2024)

Upcoming Partner Workshops & Programs

Governor's Conference on Economic Development

September 25, 2024 8:00 AM - September 26, 2024 3:00 PM

https://newmexicoidea.growthzoneapp.com/ap/Events/Register/3BFnzY4tYCQCg

SCORE upcoming FREE webinars for business:

September 21st: ONLINE: Basics of Starting a Business - ALB

September 25th: Loans, Grants and Other Funding Options for Hispanic-Owned Businesses

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

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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