Looking at Albuquerque business opportunities? According to KPMG, the Duke City is a bargain. The Big Four auditing firm recently released its 2016 “Competitive Alternatives Study.” Albuquerque came in fifth among the 18 mid-sized cities reviewed.
“Albuquerque, at 94.4, showed strong results in all aspects of labor costs. While it ranked third for total labor costs, Albuquerque’s costs are only 0.6 percent higher than first-placed Nashville for this factor. Albuquerque also ranked third for its effective corporate income tax rate,” KPMG stated in its press release.
This follows CNBC’s 24th placement for New Mexico as a state to do business. The state jumped from 37 in 2014 to among the top 25 based on CNBC’s 60 measures of competitiveness. High-rankings for the Duke City included 5th for infrastructure, 13th for cost of living and 16th for workforce. According to the U.S. Census Bureau, New Mexico is the fourth most active state for business start ups.
This is good news for Albuquerque and New Mexico. It also corresponds to what Sam Goldenberg & Associates is experiencing. In the first quarter of 2016, we closed on five businesses. Three were in Albuquerque, including Accessories Unlimited, Edible Arrangements and the Northeast Height’s Torino’s @ Home. Our current Albuquerque businesses for sale are generating strong interest, attracting attention from both within and outside the state.