Residents who are interested in eating, working, playing and living Downtown now have an additional option. After nearly 10 months of planning and construction, the historic Downtown building 505 Central is open. According to Mark Baker, owner of the...read more
Downtown Albuquerque has in the last few years built momentum as a destination for locals and visitors to gather. To further energize the urban core and ensure its vitality for years to come, Mayor Richard J. Berry announced in late 2015 a plan that will capitalize on recent upgrades made to the Convention Center and Civic Plaza.
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:
Starting a business in Albuquerque:
City of Albuquerque Economic Development Department
Moving or expanding your business, and locating office space or property:
Albuquerque Economic Development
Demographics and community data
State programs and resources
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. http://www.nmsbaprogram.org
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
Innovation is breaking ground in Albuquerque
A lot more local startups marketing University of New Mexico technology could emerge in the next few years thanks to a new $444,000 grant from the National Science Foundation. The five-year grant will convert UNM’s new Lobo Rainforest building at the Innovate ABQ...read more
Albuquerque’s 1 Million Cups celebrates its third birthday with a special session from 9-10 a.m. today at FatPipe ABQ, 200 Broadway Blvd. NE. Albuquerque became the 50th city to join the 1 Million Cups national network on Aug. 6, 2014. There are now 138 host cities....read more
Pre-orders for Pressure Analysis Co.’s “SmackCap” for wireless head-impact monitoring in sports are rolling in as the company moves closer to mass-manufacturing capability. To help facilitate the process, the University of New Mexico’s Co-Investment Fund has...read more
National organizations like the U.S. Small Business Administration (SBA) and local resources like Finance New Mexico are setting the table for small New Mexico businesses that hunger for information and assistance. And what they offer is a fiesta of staples and...read more
Journey along the Camino Real and beyond to explore entrepreneurship and economic development on the historic trading route into Latin America during a summit Aug. 3 at the Albuquerque Convention Center. Global Ties ABQ , the Santa Fe Council on International...read more
The six-story Lobo Rainforest Building, the first new construction on the Innovate ABQ site Downtown and the tallest building to rise here in some time, has already modernized Albuquerque’s skyline. Come its grand opening August 25 (see details below), the ensuing...read more
Albuquerque’s genetic horse-testing startup EquiSeq trotted into the center of this month’s edition of the Painted Horse Journal, a national magazine produced by the country’s second-largest horse association. In the horse industry, that’s the equivalent of...read more
Albuquerque’s share-based, online baby-equipment rental firm Babierge Inc. is now serving families at hotels and resorts in the U.S. and the Caribbean through a new partnership with Destination Hotels. That puts the Babierge brand in high-end boutique resorts in 40...read more
The multi-faceted plan includes:
- Convention Center Renovation ($25 million): The Albuquerque Convention Center recently received a structural and aesthetic facelift to not only better reflect Albuquerque culture but also to handle larger local and traveling events. The project included the installation of a new glass façade overlooking Civic Plaza, a new stain and re-stucco for the exterior of the West Building, a new balcony, a new executive conference room, renovations to the atrium common spaces and meeting rooms, including carpeting and finishes.
- Civic Plaza ($4 million): As an extension of the Convention Center, Civic Plaza will also receive an upgrade. Proposed plans would replace the fountain with an interactive, family-friendly, modern and sustainable water element along with improvements to the surrounding area for shade, access and activities.
- One Central Entertainment District ($38.5 million): The City is set to break ground in Fall 2016 on a mixed-use entertainment hub at the intersection of First Street and Central Avenue. The new facility will have several amenities including a 10-lane upscale bowling lounge, coffee shops, local brewery taprooms, casual eateries and various types of retail and a 400- space parking structure.
- Downtown Parking ($1 million): A variety of proposals are being studied to improve and modernize downtown parking facilities, including garages, lots and on-street spaces.
Expected completion dates vary per project, but all are expected to be finished by Fall 2017.