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Dominating this week’s Albuquerque business news is The Orion Center, a proposed satellite assembling and testing plant. The major multi-million-dollar deal is currently in negotiations between the Theia Group Inc. and the city. Current plans call for the campus hosting 1,000 workers with plans to ultimately grow to 2,500. "The Orion Center has the potential to be a game-changing partnership for our city’s aerospace and tech sector,” Albuquerque Mayor Tim Keller said in a statement last...

09 April, 2021

Facebook's data center in Los Lunas is looking to the double in size. The operation, which stores data for Facebook's social media sites such as WhatsApp, Instagram, and Facebook, opened in early 2019. It currently comprises three fully-operational buildings, a fourth due to come online shortly, and two more currently under construction. Under this new proposal, the center could expand by a total of six new additional buildings, with plans to build two by 2023. Through its...

20 February, 2021

Pledges $1 Billion Investment and Additional 1,000 Jobs Today, New Mexico Governor Michelle Lujan Grisham and Albuquerque Mayor Tim Keller together with Netflix Co-CEO Ted Sarandos announced that Netflix, the world’s leading internet entertainment service, plans to boost its presence in the state by expanding ABQ Studios and committing to an additional $1 billion in production spend. The expansion will add 300 acres to the company’s existing space at ABQ Studios, located in Albuquerque’s Mesa Del Sol...

23 November, 2020

The State of New Mexico's Job Training Incentive Program (JTIP) Board has awarded 18 companies with over $5.5 million during September and October 2020, in support of 803 new jobs, Economic Development Department Cabinet Secretary Alicia J. Keyes announced today The September awards totaled $3.6 million for 672 trainees and 1 intern, with another $1.9 million for 129 trainees and 1 intern awarded in October. Average salaries for trainees ranged from $11.62 to $69.71 per hour, with...

27 October, 2020

This month, Albuquerque is hosting the 2020 ESHIP Summit, a gathering of "entrepreneurial ecosystem builders – leaders connecting communities together to accelerate entrepreneurship – who seek to build more inclusive, sustainable local economies." This systems approach to fostering economic vibrancy connects people, resources, and institutions to foster collaborative growth and innovation. “During the ESHIP Summit, we are featuring a round table of five ecosystem leaders from Albuquerque to tell the story of the development of the...

25 September, 2020

Congratulations to Albuquerque small businesses! According to a recent study conducted by e-commerce company Square, Albuquerque's Main Street businesses ranked Number 1 in increased rate of e-commerce adoption following the COVID-19 outbreak. The ranking signals Albuquerque businesses' agility and grit. "We’re inspired every day by the ingenuity of small businesses in the face of a rapidly evolving environment," writes Square. "They’re pivoting business models, building online operations in days, and even selling completely new products to...

15 September, 2020

Quite the week for Albuquerque, which made the Top 50 U.S. Cities for Starting a Business in 2020, according to a study conducted by Inc. and entrepreneurship researchers Startup Genome. These "Surge Cities" leverage local assets, human capital, and development strategy to drive success, with interesting lessons to be learned in each case. Entrepreneurship through acquisition can be a savvy path to business ownership, side-stepping some of the associated risk. Learn about about businesses for...

13 December, 2019

More accolades for Albuquerque! The Duke City ranks 11th for work-life balance in American cities. A recently published study compared cities across data representing work intensity, societal/institutional support, and city livability in order to determine where people do—and do not—enjoy well-rounded lifestyles. This is a handy compilation if you’re involved in site selection or debating where to buy a business. The introduction to the study, by security company Kisi, states, "We know first-hand how much of a...

10 December, 2019

New Mexico is moving up in the ranks of states for millennials to live, according to WalletHub—all the way from last place to second to last place! The penultimate spot does not tell the whole story, though. Albuquerque is a pretty great place for millennials, in fact. The low cost of living, proximity to gorgeous outdoor scenery and recreation, and rich culture contribute to a high quality of life. The burgeoning film and tech industries are...

18 October, 2019

Albuquerque was recently ranked America’s ninth most affordable city by Move.org. The comparison of 75 major U.S. cities considered the following factors: Rent for a 1-bedroom apartment Utilities (electricity, water, etc.) Internet Gasoline Food (groceries plus occasional restaurant meals Rounding out the top ten were El Paso, TX; Lincoln, NE; Toldeo, OH; Wichita, KS; Louisville, KY; Tulsa, OK; Memphis, TN;  Lexington, KY; Albuquerque, NM; and Mesa, AZ. The top five most expensive cities were San Francisco, CA; New...

30 August, 2019

In more #AlbuquerqueAscending news, economic development and media company Livability lists 11 reasons why ABQ is the perfect place to do business. "The Southwestern city is witnessing an entrepreneurial renaissance with the help of startup-friendly culture, excellent universities and a great cultural scene for that ever elusive work-life balance. Albuquerque’s tech scene is so vibrant that even Facebook is setting up an outpost in the area, and the city has seen a nearly 10% increase in...

23 August, 2019

Albuquerque ranks in the top ten large-size metro areas in the country for economic development potential, according to site selector publication Business Facilities. It’s a great time to buy a business in Albuquerque—or sell a business and move on to the next Big Thing! Albuquerque was ranked ninth. Topping the list were Atlanta, GA and San Antonio, TX. In a recent Albuquerque Business First article, reporter Collin Krabbe writes: "'Albuquerque has a foothold in very high-tech industries,’...

14 August, 2019

Congratulations to Matt Baker and Troy Shepard for their acquisition of Xitech Instruments, Inc. ...

10 March, 2018

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...

17 April, 2016

[embed width="100%"]https://www.youtube.com/watch?v=vAYZsRReWgM[/embed] Albuquerque Business First Damon Scott March 27, 2015 About nine years ago, three businesses opened at about the same time in Albuquerque’s East Downtown along Central Avenue, giving the already emerging corridor some additional momentum. Those businesses were the Grove Cafe & Market, Hot Yoga Downtown Albuquerque and Bhava Yoga Studio. Bhava owner Bea Doyle is looking for a buyer of her business and thinks the desirability of the EDo location will be plus. She’s enlisted the help of...

27 March, 2015