The Albuquerque Regional Economic Alliance (AREA) and CBRE released the updated 2024 Greater Albuquerque Region Talent & Industry Profile, an annual report providing an in-depth snapshot of the region’s key economic development assets.

The report includes updated figures and data sets as well as testimonial videos from several recently announced or expanded companies in the region. The data report includes information on talent and education in the region; state and local incentives; demographics and statistics; cost of living; growth industries overviews; quality of life comparisons; business operational costs, commute data, and more. New and fun features in the 2024 report include several video testimonials from notable new companies in the region, such as Arcosa Wind Towers and BlueHalo.

To unveil this detailed marketing and research report, AREA and CBRE were joined by CBRE Vice President for Capital Markets Research Darin Mellott who offered insights on the U.S. commercial real estate market landscape and the economic issues that will continue to shape market dynamics in 2024.

In addition, the program featured a panel discussion with Jeff Garrett of Garrett Development Corporation, Nancy Huning Schmierbach of Huning Business & Tech Park, and Brian Patterson of Titan Development – all overseeing significantly sized properties for future commercial development in the greater Albuquerque region.

“The greater Albuquerque region is one of the most dynamic, diverse and innovative communities in the nation, and industries are realizing its unlimited potential,” said Jim Chynoweth, Managing Director for CBRE in Albuquerque. “This report is likely to inspire readers to take a trip to experience greater Albuquerque and all it has to offer.”

Some of the 2024 report’s updated findings include:

· The region boasts an only 24.2 minute average commute time

· 14.3% of the population are bilingual in English and Spanish compared to 7.9% in the US overall

· 60% of the workforce identifies as a person of color

· College enrollment increased by 7% in the region from 2021 to 2023

· New Mexico was a Top 10 state for inbound moves in 2023

· The region’s cost of living index is 93.8, lower than the national average and the majority of comparable surrounding markets

“This report, updated annually, outlines the numerous factors that set our region apart. It is unequivocally one of our top economic development publications used to articulate our value proposition and promote the region’s key assets to decision makers outside of the community,” added Danielle Casey, President & CEO of AREA.

To interact with or download the full digital report, visit


About AREA

The Albuquerque Regional Economic Alliance is a 501(c)(3) nonprofit organization whose mission is to lead and execute 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

About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at

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