Welcome to Albuquerque’s vibrant entrepreneurial ecosystem
The Albuquerque metro area is celebrating an evolution in economic development – one of innovation created and perpetuated by entrepreneurs as its leaders.
Here you will find an environment that encourages and applauds diversity and empowers individuals with ideas at all levels of society, regardless of education, background or interest.
Here you can be a part of a collaborative and inclusive approach to economic development, supported by public-private partnerships, community organizations, investors, government and academia, and driven by you.
This community-based economy, where job seekers become job creators, will not only provide the foundation for long-term prosperity but also serve as a model for other vanguard cities.
Starting or Moving Your Business
In this metropolitan area of nearly 1million people, business and city leaders remain as accessible as those in a one-light town and take a genuine interest in connecting entrepreneurs with the resources they need to succeed. Whether taking the first steps to launching a business in Albuquerque or figuring out how to move an existing one, here are some places to begin:
Albuquerque is an affordable alternative to established tech havens like Silicon Valley, Boston, San Francisco and New York. Real estate and labor prices are more affordable, allowing entrepreneurs to bootstrap more effectively while launching their companies. The average home price is $185,200 and home prices have appreciated by 9.1% over the past year.1 There also low cost living options for young college grad tech startup workers with a median rent price of $1,200.
You know your business or startup idea is one in a million, which is why you can’t risk being viewed as just another number in a crowd of entrepreneurs. Getting acknowledged and getting help from the right people, at the right time, is critical. Albuquerque makes it easy. Albuquerque lies at the center of the New Mexico Technology Corridor, a concentration of high-tech private companies and government institutions along the Rio Grande. The city is home to a number of attendant contracting companies, Sandia National Laboratories and Kirtland Air Force Base. It is home to University of New Mexico, National American University, Trinity Southwest University of which the strength of the universities turning out well-educated graduates with strong tech backgrounds, is contributing to the emerging growth of the local startup scene.
Entrepreneurship restores creativity to the soul of the global economy. Across all industries – high tech, defense, clean-tech, social impact, retail, and life sciences – startups are transforming people’s lives.
NM Small Business Assistance: The New Mexico Small Business Assistance (NMSBA) Program allows New Mexico small businesses facing a technical challenge to access the unique expertise and capabilities of Los Alamos and Sandia national laboratories. At no cost to the business, small businesses with a technical challenge can seek assistance from lab scientists or engineers for projects that require testing, design consultation and access to special equipment or facilities.
Albuquerque Stats at a Glance
Metro Population: 907,100
Major Industries: Technology, Defense
Gross Metro Product: $40.8 B
Median Household Income: $48,981
Median Home Price: $187,100
House Price Change: 9.1% appreciation last 12 months
Cost of Living: 2.7% below nat’l avg