abq.org | live.abq.org | abq.sites.org
QUARTER REFLECTION
DANIELLE CASEY, CE
President & CEO
I am proud to report that more local and state partners are joining forces with us every day as we lead discussions, research and initiatives related to site readiness, talent attraction, and downtown revitalization. In January, the City of Belen became a new official community partner, underscoring the importance and the impact of regional collaboration.
The AREA team and its partners remained laser focused on tracking and encouraging the success of key new economic development bills during the legislative session, specifically Senate Bill 169 – Strategic Economic Development Site Readiness and Senate Bill 170 – NMFA Definitions, Funds & Rates. I had the honor of co-authoring an op ed with the now confirmed Cabinet Secretary for Economic Development, Rob Black, highlighting our need to be prepared when businesses comes knocking.
Also in Quarter 1, AREA advanced its Talent Insights Advisory Council efforts, and even hosted the first ever ‘Economic Development 101’ program - all while also facilitating several prospective new company visits to the region, responding to 15 new project inquiries and conducting four outbound business development missions at trade shows and conferences in external national markets. While the national economic landscape is certainly experiencing tumultuous times and grappling with uncertainty - AREA continues to remain laser focused on its mission of reducing barriers to economic competitiveness in order to raise the quality of life for all.
With Gratitude,
Did you know? AREA is 65 years young!
Formerly known as Albuquerque Industrial Development Service, Inc. (AIDS), then Albuquerque Economic Development, Inc. (AED), Albuquerque Regional Economic Alliance (AREA) has been a key player in the greater Albuquerque business community since 1960. Founded by Gene Hinkle and local business leaders, it was created as a standalone economic development organization to focus fully on attracting and growing business to the region. Early funding included $75,000 annual pledges for five years and a successful capital campaign raising $1.3 million from 1967–1970. Land donations and strategic real estate transactions further contributed to AREA's financial stability and growth. This would not have happened without Gene!
EVENTS & ANNOUNCEMENTS
Senior Vice President Chad Matheson Receives Economic Developer of the Year Award
Chad Matheson, Senior VP of AREA, was named Economic Developer of the Year at the New Mexico IDEA Winter Meeting on February 10, 2025. The award honors leaders who drive major business expansions in New Mexico.
The New Mexico IDEA Annual Awards recognize and celebrate economic development professionals for their impact in promoting, advancing, and elevating the profession and practice of economic development.
Chad played a key role in securing Ebon Solar’s decision to build an 834,000 sq. ft. manufacturing facility in greater Albuquerque, bringing 900+ jobs and $900M+ investment to Greater Albuquerque. His efforts included site selection, research, and coordination.
In 2024, Chad also graduated from Oklahoma University’s Economic Development Institute (EDI), the premier economic development training program in the nation for more than 50 years, providing professional economic developers with the up-todate knowledge and tools necessary to succeed in today’s constantly changing environment.
University of New Mexico and City of Albuquerque Sign Memorandum of Understanding
The City of Albuquerque and UNM have signed an MOU to explore expanding UNM’s presence downtown This partnership marks a significant step toward revitalizing the urban core and enhancing educational opportunities for the community. Expanding higher education into downtown cores has been transformational for other cities, including Arizona State University in downtown Phoenix.
The Memorandum of Understanding (MOU), signed on February 13, 2025 by Mayor Tim Keller and UNM President Garnett Stokes, solidifies the collaboration between the city and university to evaluate potential locations, identify academic program opportunities, and determine the feasibility of a downtown campus expansion.
AREA is proud to have impacted this decision by its work in 2024 bringing civic and university leaders from Albuquerque on a tour of downtown Phoenix to see its transformation in action.
The delegation demonstrated an openness to new ideas and a shared recognition that revitalization doesn’t happen by accident — it requires a deliberate, collective effort.
Cover Photo: AREA is the Board of the Year
AREA Board Chair Don Tarry, Board Member Michelle Dearholdt, Senior Vice President Chad Matheson and President & CEO Danielle Casey were honored to accept the award at the Albuquerque Business First Philanthropy Awards on behalf of the AREA Board of Directors!
After a call for nominations from the public, Business First assembled a team of outside judges to review submissions and determine the 2025 Philanthropy Awards recipients.
GOAL 1: ESTABLISH NATIONAL IDENTITY AS A LEADING LOCATION
Build the national profile of the greater Albuquerque region by strategically marketing the area’s advantages as a business location; aggressively pursue high impact business investors and aid their entrance into the region; build strength through diversity of industries.
Site Selectors Guild Winter Summit - Miami, Florida
The Winter Summit highlighted emerging trends shaping site selection and economic development. AI’s role in workforce disruption was a major topic, emphasizing the need for talent adaptation. For industrial projects, power capacity and development-ready sites remain critical.
Consultant Connect - Dallas, Texas
The Dallas Summit offered valuable 1:1 engagement with 12 site selectors, highlighting key industry trends. Energy discussions centered on life sciences manufacturing, EV battery demand, data centers, and emerging hydrogen and on-site gas generation solutions. In aerospace, legacy firms and startups are diverging in needs. Despite evolving industrial demands, large, development-ready acreage is still essential.
Industrial Asset Management Council (IAMC) - Sacramento, California
In March, President and CEO, Danielle Casey attended the the Industrial Asset Management Council Spring Forum in Sacramento, CA. There she connected directly with 7 site selection consultants and two active client opportunities to the region. She was also able to tour the UC Davis Aggie Square development built by Wexford Science & Technology.
Business Retention and Expansion visits are tracking well towards AREA’s annual goal of 50+ visits to local firms, conducting 11 visits in Q1. Local firms visited include Robocasting Enterprises, Torc Robotics, Vara Winery and Distillery, Flow Aluminum, Bueno Foods, Breezy Med (Former Build with Robots), Raven Defense, Katharsis Media, Gridworks, Eclipse Aerospace, and Array Technologies.
The third of the 3-part educational webinar series aimed at offering tools and resources to small businesses was held February 5. Due to the success of the webinar series additional webinar offerings will be announced in Q2.
DIGTAL MARKETING & MEDIA METRICS
BUSINESS DEVELOPMENT UPDATES
Business Expansion Highlight – Raven Defense Corp.
Raven Defense Corp, one of New Mexico’s fastest-growing companies, has announced a major expansion of its operations with the lease of a 33,987-square-foot facility at 5411 Jefferson St NE in Albuquerque This marks the company’s third location in the city and follows a previous 25,000-square-foot expansion in 2022, continuing its impressive growth trajectory
Founded in 2018, Raven Defense specializes in advanced satellite communications and missile flight testing solutions for the U.S. Department of Defense. Between 2021 and 2023, the company achieved a remarkable 331.7% increase in revenue. The new facility will support workforce expansion, product development, and increased inventory capacity.
Aerospace and defense are among the most impactful industries in the greater Albuquerque region. For every 20 new jobs created in this sector, regional business sales are projected to increase by $31.3 million, supporting an additional 46 indirect jobs and generating an estimated $6.22 million in total labor income through broader economic ripple effects.
AREA proudly congratulates Raven Defense on this exciting milestone With nearly 60,000 square feet now under operation in Albuquerque, the company is further strengthening the region’s reputation as a hub for high-growth technology and defense firms
GOAL 2: ATTRACT, RETAIN, AND ALIGN TALENT
Convene key partners throughout the region, identify talent gaps and implement and catalyze talent attraction and retention solutions; improve connections between the jobs we do have with the talent we have
1. Promote the Region to Attract & Retain Talent
In February, AREA launched a LinkedIn ad campaign to attract talent and direct users to its live.abq.org microsite. LinkedIn's analytics offer detailed insights into talent attraction efforts, including metrics such as 123k+ impressions; 1,089 clicks, and a .88% click-through-rate, all above standard.
AREA partnered with the New Mexico Economic Development Department’s Job Training Incentive Program team to interview newly relocated employees to the region (see video on right), recording three interviews in Q1, with more planned. These initiatives are part of our broader talent attraction campaign.
2. Identity Gaps & Forecast Needs
The Talent Insights Advisory has selected Joy Forehand, Vice President of Workforce and Community Success at CNM to serve as Advisory Council Chair. Talent Insights Advisory Council activities in Q1 included convening to create a central list of all data sources available to partners, and began identifying the key questions that the Advisory will leverage this data to investigate.
3. Support Regional Talent Development
Connections were enhanced within the business and public sectors by participating in the Advanced Manufacturing Employer Convening webinar in February organized by Pathways 2 Careers.
AREA’s Existing Business and Workforce Engagement Manager joined the United Way of North Central NM’s Career Academy committee and attended the 2025 UNM Business and Economic Summit resulting in connection & follow up business retention and expansion visits to three local firms.
Pajarito Powder
GOAL 3: BREAK DOWN BARRIERS TO REGIONAL COMPETITIVENESS
AREA will work to bring together the regional network of economic development professionals for the benefit of the region, promote the expansion of infrastructure, and support solutions to challenges affecting the business climate
1. Collaborate with Regional Partners
In March, in partnership with Sandoval County, AREA hosted it’s Economic Development Professionals Advisory Council meeting at THE BLOCK in Rio Rancho.
AREA is proud to have welcomed the City of Belen as its newest public sector partner in Q1 of 2025.
2. Foster
A Strong Business Climate
AREA’s President & CEO participated weekly as a member of the New Mexico Chamber of Commerce’s Legislative Focus Committee as an economic development subject matter expert, and offered testimony for SB 169/170.
In February, AREA President and CEO spoke to the Bernalillo County Commission regarding their review of county-level economic development policies and procedures.
Attendance at Guild Partner Winter Summit (January-AR) CC Dallas Summit (February), IEDC Leadership Summit (DC- Feb) IAMC (DC-March) Market Visit AZ (DC- March)
3. Drive Development of Needed Commercial Space
Throughout Q1 2025, AREA served in a leadership role in advancing discussions regarding the need for site readiness for future business development locations in the region.
In February, Senior VP, Chad Matheson spoke in support of economic development and grid readiness in an informational workshop with utility partners and leadership with the Public Regulation Commission. https://nmpoliticalreport.com/2025/02/14/how-can-utilities-state-regulatorsspark-economic-development-in-nm/
In February, AREA hosted nationally-recognized development company Wexford Science and Technology to it’s February Board meeting. In addition, AREA set multiple discussion sessions with key bioscience and development leadership.
4. Advocate for Mobility, Transportation, and Broadband Advancement
AREA is a partner and supporter in the multi-county and multi-state I-40 Tradeport Corridor initiative This strategic vision will support current and future innovation in transportation and leverage our region’s strategic geographic location.
BD Trade Shows, Market Visits, and Conferences Attended Dan Long, Gridworks
13 Governance, Advisory Council and Investor Programs Q1
3
COMMUNITY ENGAGEMENT
Welcome new Public Sector Supporter: City of Belen
A warm welcome is in order for AREA’s first new public sector partner of 2025, the City of Belen Also known as "The Hub City," Belen was founded in 1740 and has a rich history and is known for its strategic location and transportation infrastructure and the only public airport in Valencia County
AREA Hosts Economic Development Professional Advisory Council for a Gathering at The BLOCK in Rio Rancho
In person engagement is key to ensuring continued regional alignment on business attraction efforts and priorities, this gathering also showed off a new local gem to all participants.
New Brokerage Partner Signs
Memorandum of Understanding with AREA
The Albuquerque Regional Economic Alliance (AREA) has signed a Memorandum of Understanding (MOU) with SVN Walt Arnold Commercial Brokerage, expanding its network of commercial real estate partners to seven firms. This collaboration aims to enhance business attraction efforts in the Albuquerque region by leveraging AREA’s research, data, and public relations support alongside SVN Walt Arnold’s real estate expertise The partnership will promote economic growth, increase investment opportunities, and strengthen Albuquerque’s regional visibility.
AREA has also developed a Broker Toolkit to support its commercial real estate partners
January2025-BuildingaRegionalEconomy:EconomicDevelopment101
In January, AREA hosted its inaugural accelerated ‘Economic Development 101 Training Course’ A sold out attendance list of 75 guests (in person ad virtual) spent a day with the AREA team to learn the many different aspects of economic development from how AREA supports the attraction of industry to the region to the theory and practice behind the profession. Missed the class but curious about the content? Visit abq.org/ed101.
