7/29/19 Business Facilities ranks Albuquerque ninth for economic growth potential - Albuquerque Business First

Albuquerque was ranked as a top large-size metro for economic growth potential.

Albuquerque is the ninth best large-size metro area in the country for economic growth potential, according to site selector publication Business Facilities.

The Duke City's tech infrastructure made it stand out among others on the list, many of which have a much larger population than Albuquerque.

"[Albuquerque has] a foothold in very high-tech industries," including renewable energies, photonics and information technology, said the publication's Editor in Chief Jack Rogers. "We think the up arrow is going to stay for a while."

Rogers said targeted growth sectors and industries, the efforts to diversify those clusters, local demographics and workforce development were factored into the analysis. He also praised the state economic development department's Job Training Incentive Program, a government-funded incentive tool that pays for classroom and on-the-job training for new jobs at expanding or relocating businesses.

Much of Albuquerque's tech economy is tied to Sandia National Laboratories, Los Alamos National Laboratory and other government agencies. Business First reported last month on homegrown IT and cybersecurity startup Rebellis Development Group nabbing a $7 million slice of a contract for work with the Bureau of Indian Affairs, and several space companies are expanding in town for work with the military.

Topping Business Facilities' list of large metro areas with high growth potential was Atlanta, home to Fortune 500 companies The Home Depot, United Parcel Service and others. San Antonio came in second and Phoenix third. Kansas City, Missouri, was edged out by Albuquerque in the ranking.