News Release
12/6/23
ALBUQUERQUE —
Now through Dec. 31, the Albuquerque Regional Economic Alliance (AREA), an Albuquerque-based public charity that works to support economic growth in the region, is seeking input from businesses in Bernalillo, Sandoval, Torrance and Valencia County to help tailor programs and resources to company needs, market activity and trends. Surveys can be submitted anonymously online at: www.abq.org/local-business/
“AREA’s longstanding business support and outreach program has helped thousands of companies over the years by providing data, referrals and technical assistance with incentives and tools such as IRBs, JTIP and LEDA funding to grow their New Mexico operations,” said AREA President & CEO Danielle Casey. “While we continue those efforts, this expansion of data collection will help connect the dots in a bigger way for our overall economic future.”
Although individual surveys will remain confidential, data from the surveys will be analyzed in aggregate to identify trends in the local business community and that will help ensure AREA’s efforts to support business growth and job creation align to the needs of the community and support the region’s competitive advantage in economic development.
AREA’s ongoing business retention and expansion program collects feedback from businesses regarding talent and workforce needs, helps connect them to local, regional and state incentive programs and financial tools, assists with site expansion needs, provides up-to-date customized data such as occupational information or business planning research, and helps promote companies through public relations efforts and by posting their open jobs for free on the AREA job board at: www.abq.org/jobs. A full listing of programs and resources available through AREA’s business retention and expansion program can be found online at: www.abq.org/local-business/
“Small businesses are the backbone of New Mexico’s economy with 54% of all employees,” said New Mexico Economic Development Department Acting Secretary Jon Clark. “That’s why we need business owners to tell us about their concerns and challenges, so we can best design programs to assist them. Surveys like this are a key tool to determine how to help our New Mexico businesses.”
In 2021, AREA received an Honorable Mention award from the Center for Regional Economic Competitiveness (CREC) for its participation in a national business retention and expansion benchmark challenge, where it collected data from regional businesses on the impact of COVID-19 on their operations that were aggregated into a national report. Feedback and challenges identified at the time informed the AREA 1.0 Strategic Plan which was adopted in late 2021.
Once the survey closes, the results will be analyzed and compared to the 2021 survey data to help inform AREA’s decision making and prioritization for the coming year. This data will also help AREA understand how market changes and trends impact the competitiveness of the region on the national scale.
“Our foundation was laid in Albuquerque over 30 years ago, and this expansion is a testament to our longstanding relationship with this vibrant community,” said Array CEO Kevin Hostetler. “This move signifies more than just growth; it reaffirms our commitment to New Mexico, its people, and the global renewable energy mission we’ve passionately pursued since we opened. We’re excited to continue lighting the way to a brighter, cleaner energy future from our home state.”
If you represent a local employer in the region would like to be included in these conversations, email: businessdevelopment@abq.org or visit www.abq.org/local-business/ to complete the survey or request a visit or conversation with an AREA team member.
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About AREA
The Albuquerque Regional Economic Alliance is a private, 501(c)(3) nonprofit organization whose mission is leads and executes strategies designed to grow and diversify the economic base of the greater Albuquerque region, creating a prosperous, diverse and inclusive economy and elevating the standard of living for all. AREA provides confidential assistance to businesses considering the area for expansion and new investment. Since its creation in 1960, AREA has recruited more than 250 companies and more than 35,000 jobs to the Albuquerque metro area. AREA also provides retention and expansion assistance to existing industry. For more information, visit ABQ.org.