Albuquerque Business First’s 2023 Nonprofits of the Year include the Albuquerque Regional Economic Alliance
*Full article courtesy of Albuquerque Business First
ALBUQUERQUE – March 23, 2023 – The Albuquerque Regional Economic Alliance, formerly known as Albuquerque Economic Development, can trace its roots back to the 1960s.
In 2022, the organization transitioned from a 501(c)(6) to a 501(c)(3) to better execute on its mission to “grow and diversify the economic base of the greater Albuquerque region.”
Led by President and CEO Danielle Casey, AREA has nine employees who work together to drive business development in New Mexico. Last year was a period of transition for the organization as it focused on creating a better avenue for public/private partnerships. According to AREA, projects they helped work on have resulted in nearly 2,000 net new jobs year to date.
In the year ahead, one of AREA’s main objectives is to concentrate on building the Albuquerque region’s national brand.
What was the nonprofit’s biggest success of 2022?
2022 has been a year of intentional evolution. Changing our longtime name from AED to AREA, rewriting our bylaws and articles of incorporation to shift to a mission-based focus for the organization, and for the first time ever creating a path for public/private partnership with the inclusion of local government entities across greater Albuquerque. We have also launched several new industry advisory councils … designed to engage business leaders and inform and guide the implementation of our strategic plan.
How would you describe the nonprofit’s financials? Is the organization financially stable?
AREA is indeed financially stable, having existed since the late 1960s due to a supporting fund. In addition, in 2022 it successfully completed a capital campaign to increase its annual operating budget while simultaneously decreasing dependency on its sustaining fund for day-to-day operations.
What is the nonprofit’s biggest goal for 2023?
AREA will be focusing on creating a positive national business brand for greater Albuquerque and working on initiatives that ultimately make the region a better operating environment for businesses choosing to locate and grow in the region — creating and delivering jobs and opportunities for all.