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Earth Origins Realty: Sustainable - Home - Community
Economic Development in Albuquerque, Business in New Mexico
Economic Development in Albuquerque
Albuquerque #1 Metro for Business and Careers
According to Forbes media giant, out of the 200 largest metro areas in the United States, the number one place for business and careers is Albuquerque, New Mexico. The major criteria used to determine this ranking include cost to do business, educational levels of a city¿s workforce, and strong migration trends. About Albuquerque, the magazine discloses, "Median household income has shot up 19% over the past two years to $49,000, helping Albuquerque claim the No. 1 spot, up from fifth place last year. Even with a highly educated workforce, business costs are still the lowest in the country, 24% below the national average."
Forbes isn't the only media source that recognizes Albuquerque's offerings. USA Today placed Albuquerque in the top 10 Travel Destinations, while Newsweek rated the City Different as one of United States' Top 100 Communities for Young People.
Supporting Albuquerque's Local Economy
Supporting our local New Mexico economy enhances the health and viability of our community. Mindful consumer choices and locally-owned businesses help build sustainable local economies. On an individual level we can enhance economic development in Albuquerque by choosing to shop and do business locally.
For every dollar spent at locally-owned, independent Albuquerque businesses, 45 cents is recycled in our community economy. Compare this with only 13 cents staying in the local economy when spent at non-locally owned stores. Thus, making local consumer choices enhances economic development in Albuquerque three times as strong as choosing to spend dollars at non-locally-owned companies.
Factors for this include: independently owned local businesses give business to other local residents, such as hiring architects, computer consultants, accountants, insurance brokers, advertising agencies, contractors, interior designers, and attorneys. Locally run companies purchase a higher percentage of locally-produced goods from local producers than do chain retailers and distributors. More tax dollars stay in the community to spend on schools, parks, libraries, fire and police departments, and other community services critical for our quality of living.
And just as important, shopping with locally-owned, independent businesses helps to maintain, create and propel the unique character of Albuquerque and surrounding communities: that same character that compels us to live in this fabulous city.
Useful Websites about NM Economic Development
Albuquerque Independent Business Alliance AIBA supports local, independent businesses in Albuquerque through cooperative marketing and networking, as well as educates the public about the economic benefits shopping locally. They recognize "the connection between a healthy local economy and strong, vibrant communities." This website also provides a detailed list of Albuquerque Independent Business Alliance membership. Supporting the local economy supports ourselves!
LASER Labor, Analysis, Statistics, and Economic Research is an online "OneStop Center...designed for job seekers, students, case managers, employers, training providers, workforce professionals, and others seeking benefits and services." This website offers customized and detailed labor market analysis (which includes information on industry, occupation, labor force, income & wages, employers, education, economic indicatiors, and demographics), profiles (on areas, indsutry, and occupation), and comparison reports for the state of New Mexico.
New Mexico Annual Social and Economic Indicators 2005 The New Mexico Department of Labor publishes this informative report, which is intended to assist planners by sharing information on current and projected labor market conditions in New Mexico by area, industry, and occupation. This publication is a valuable resourse for anyone interested in data related to New Mexico population demographics, labor market, short & long-term occupational outlooks, income, poverty, and education.
New Mexico Economic Development Department This organization is designed to increate New Mexico's producation of goods and services, with the aim of improving opportunities and qualtiy of life for residents. They are involved in many diverse projects, such as promoting research and development, financing job training, revitalizing New Mexico's downtowns, recruiting new companies into the state, and even escorting Hollywood to film locations.
Wesst Corp Economic Development Team A non-profit economic development organization dedicated to supporting women and minority-owned businesses in the state of New Mexico. Since 1988, Wesst Corp has facilitated the growth of over 1,830 small businsses, which translates to the creation of over 2,800 jobs, in addition to providing low-interest loans to local entrepreneurs.
New Mexico Native American Business Development Center This organization supports Native Americans to develop and/or enhance their business by providing, among other resources, technical assistance and information pertinent to enterprise development.
Albuquerque Economic Development Non-profit organization established to recruit, retain, and expand companies in the Albuquerque Metro Area.
Accion New Mexcio A non-profit organization which supports entrepreneurs through loans, training, and business credit. Part of their mission acknowledges that realiizing one's dreams often lead to positive economic and social change.
New Mexico Community Development Loan Fund Not-for-profit organization designed to support low-income individuals and their communities to acheive economic empowerment by providing loans, techinical assistance, and training to business owners and non-profit organizations.
Downtown Action Team DAT is a private, non-profit membership organization focused on the revitalization of Downtown Albuquerque.
New Mexico Small Business Development Center NMSBDC provides entrepreneurial education, assistance in business planning, marketing and financing, and supports women and minority-owned businesses, veterans, and young entrepreneurs, with the goal of strengthening the economy of New Mexico.
Albuquerque Hispano Chamber of Commerce Promotes "economic empowerment through business development, workforce preparation, convention & tourism with the emphasis on small business and the Hispanic businessperson."
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