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QUARTERLY REFLECTIONS
CHAD MATHESON, CECD
President & CEO
Albuquerque Regional Economic Alliance
As we close the second quarter of 2026, I find myself thinking less about any single announcement and more about the architecture we are building underneath our region's growth
Momentum in economic development rarely announces itself all at once It shows up in the quiet discipline of aligning policy with opportunity, in the partnerships that get stronger with repetition, and in the strategic clarity that lets a region know exactly where it is competing and why.
One of the clearest signals this quarter was consistency Every month, Greater Albuquerque had a new announcement, and each reinforced that this region is not winning by accident, but by showing up prepared, month after month. That kind of cadence does not happen without groundwork, and it is a direct result of the readiness work our team has been building all year
That groundwork extended well beyond our own backyard. Our business development team logged two trade shows this quarter, including leading the statewide BIO International delegation, carrying Greater Albuquerque's story directly to the investors, consultants, and companies who decide where the next generation of projects will land.
That same spirit of convening showed up closer to home This quarter, AREA brought together 60+ leaders to focus discussion on the challenges and priorities ahead. The participation confirmed something we have believed for a while, our region's leaders want more chances to sit in the same room and work through shared priorities together The conversation was candid, the turnout strong, and the follow-up interest even stronger, a clear signal that this kind of convening should be a recurring part of how AREA serves the region, not a one-off event.
As you read through this report, I would ask you to look past the individual wins and toward the pattern they form. Greater Albuquerque is not just accumulating projects. It is building the foundation to compete for the next decade of opportunity
Thank you, as always, for your partnership and your continued investment in this work.
With Gratitude,
Chad Matheson
Chad Matheson, CEcD President and CEO
Eden Pharmacy expansion to bring 45-plus jobs to Albuquerque
ALBUQUERQUE — Albuquerque-based Eden Pharmacy is expanding its Albuquerque operations with a $2.7 million investment in expanded space and advanced infrastructure, as announced today by the Economic Development Department of New Mexico (EDNM) and the City of Albuquerque. The project is expected to create more than 56 jobs over the next decade, 45 of which are high-paying jobs coming in the next two years.
The investment will convert Eden’s existing facility into a state-ofthe-art compounding facility in full compliance with federal standards, combining advanced automation with specialized staff. The upgrade is projected to generate an estimated $78 million in economic impact over 10 years, with new positions averaging $69,197 in annual salary.
The expanded facility will allow Eden to meet the needs of patients and providers who rely on patient-specific medications, while strengthening Albuquerque’s position in specialty pharmacy. Hiring has already begun, with open roles including pharmacists and pharmacy technicians, and is expected to expand as facility upgrades are completed.
“Eden is creating new jobs and strengthening Albuquerque’s part in healthcare innovation,” said Mayor Tim Keller. “Investments like this really help position our city for long-term growth.”
The announcement follows Eden’s acquisition of Contigo Compounding Pharmacy last August. In 2021, the state awarded a $150,000 LEDA grant to Contigo, an investment that ultimately generated more than $2.2 million in direct fiscal impact for the state.
REGIONAL ANNOUNCMENTS
BlackVe expansion to add 152 jobs to the Greater Albuquerque Region
ALBUQUERQUE — New Mexico and the City of Albuquerque are investing more than $1.5 million to help BlackVe Inc., a defense and space technology company, expand its Albuquerque headquarters and create 152 high-paying jobs in the next 10 years.
The state will provide $1 million through the New Mexico Local Economic Development Act (LEDA) fund, with the City of Albuquerque contributing $250,000 in local LEDA funds and a 20year Industrial Revenue Bond (IRB). The expansion is projected to generate more than $228 million in total economic impact for the state. Funds will be distributed as BlackVe meets construction and hiring benchmarks, with the City of Albuquerque acting as fiscal agent. The Albuquerque expansion will include a 50,000-squarefoot light-industrial satellite manufacturing facility.
New Mexico continues to prove we are leaders in the advanced tech industries that will define the future,” said Governor Michelle Lujan Grisham. “We’ve created an ecosystem in this state that’s designed for the long term — one that supports discovery, attracts talent and accelerates innovation.”
In addition to LEDA funding, BlackVe has been awarded up to $295,000 through the state’s Job Training Incentive Program (JTIP) to immediately hire and train nine employees at an average hourly wage of $57.
“BlackVe is deeply proud to partner with New Mexico and the Albuquerque community, a region whose rich aerospace heritage matches our own vision for the United States in space,” said BlackVe CEO Dr Peter Wegner. “ This partnership is not just about building advanced spacecraft; it is about investing in the local workforce, creating high-quality STEM careers for New Mexicans and inspiring the next generation of home-grown innovators to reach for the stars.”
GOAL 1: ESTABLISH NATIONAL IDENTITY AS A LEADING LOCATION FOR BUSINESS
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
1. Market the Region to Recruit Growth Businesses
Space Symposium - Colorado Springs, Colorado
In April, AREA Vice President of Business Development Aida Roberts attended the annual Space Symposium in Colorado Springs, Colorado. The event brought together leaders from the aerospace, defense, government, and economic development sectors to discuss industry trends, emerging technologies, and opportunities for growth. Participation provided valuable opportunities to strengthen relationships with industry partners, promote Greater Albuquerque's growing aerospace ecosystem, and advance business development efforts that support the region's continued expansion in the space and defense sectors.
BIO International - San Diego, California
In June, AREA Vice President of Business Development Aida Roberts represented the Greater Albuquerque region at the BIO International Convention 2026 in San Diego, California. Working alongside partners including University of New Mexico Health Sciences, New Mexico Bioscience Authority, New Mexico Partnership, New Mexico Venture Studios, and Sandoval Economic Alliance, AREA helped showcase New Mexico's growing bioscience ecosystem to a global audience.
Spring Familiarization Tour - Albuquerque, New Mexico
In April, AREA hosted our Spring Familiarization Tour, welcoming a group of emerging site selectors to the Greater Albuquerque region to experience firsthand the area's business advantages, talent pipeline, quality of life, and economic development opportunities. Through visits with regional employers, community leaders, educational institutions, and key industry partners, attendees gained insight into why Greater Albuquerque is a premier destination for business investment and expansion. The tour placed a special emphasis on connecting with the next generation of site selection professionals and economic development leaders, with support from community partners including the Young Professionals of Albuquerque.
2. Support Existing Business Retention & Expansion
In Q4 FY26 (April–June 2026), business retention and expansion efforts across the Albuquerque region remained strong, with 15 new leads generated and 15 meetings held with local companies, 93% of which were economic base industry firms. These efforts translated into measurable workforce impact, with 22 area businesses expanding their headcount by at least one full-time employee, supported by 22 JTIP awards issued during the quarter. The region also educated 56 companies on available federal and local incentive programs and advanced 3 international trade referrals through ongoing engagement with NMEXUS at Mesa del Sol.
BUSINESS DEVELOPMENT UPDATES
BRE’s in the 2nd Quarter
National Sales Missions
8 Company Site Visits in Q2
In the second quarter, the Albuquerque region saw strong business retention activity, with 15 new leads generated and meetings held with 15 local companies, 93% of which were economic base industry firms. Retention efforts translated into real workforce impact, with area businesses expanding their headcount by at least one full-time employee, supported by 22 JTIP awards issued during the quarter.
On the recruitment and marketing side, the region landed 5 newly recruited companies — including Eden Health and Back in Black — bringing $65 million in new capital investment to the Albuquerque area.
The quarter also included 8 prospect visits, engagement with 6 site selection consultants, and a 41% email open rate, well above industry benchmarks, reflecting continued strong outreach to site selectors and prospective employers.
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 May, AREA participated in the State of the Space Industrial Space Conference through a collaborative exhibit table in partnership with New Space Nexus, helping elevate Greater Albuquerque’s presence within the rapidly expanding national space economy dialogue. The conference convened industry leaders, government representatives, entrepreneurs, and investors to discuss the current landscape and future trajectory of space commercialization, advanced aerospace technologies, and emerging market opportunities across the space sector
2. Identity Gaps & Forecast Needs
Through ongoing BRE outreach, companies across the region provided direct input on hiring challenges, talent demands, and emerging skill needs. This feedback strengthened the AREA’s ability to plan ahead and support employers more effectively
3. Support Regional Talent Development
Over the course of Q2, the Talent Insights Advisory Council has been intentionally convened as a working group to drive execution of the Regional Workforce Summit. Rather than functioning as a traditional advisory body, the committee has operated in a more hands-on, action-oriented capacity, meeting regularly to shape the summit’s structure, content, and outcomes
Discussions have focused on aligning the summit with employer demand, refining key themes and breakout sessions, and ensuring strong integration across industry, education, and policy stakeholders The group has also played a critical role in identifying speakers, shaping the participant experience, and reinforcing the summit’s value proposition to partners and sponsors.
22 JTIP awards to AREA companies
Total Trainees $46/hr. Average Wage
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 June, members of AREA's Economic Development Professionals Council (EdPros) participated in a private tour of Intel Corporation's Rio Rancho campus, gaining valuable insight into the advanced technologies and innovations driving the semiconductor industry. Participants learned about Intel's continued investments in manufacturing, workforce development, and technological advancement, as well as the company's significant economic impact on the Greater Albuquerque region. The tour highlighted the critical role Intel plays in supporting high-quality jobs, fostering innovation, and strengthening New Mexico's position as a leader in advanced manufacturing and technology.
2. Foster A Strong Business Climate
In June, AREA convened a Leadership Roundtable bringing together board members, community leaders, and regional partners for an interactive discussion centered on Strategic Doing, a collaborative framework for guiding complex, cross-sector initiatives. The session focused on strengthening alignment across regional priorities, deepening partnership engagement, and advancing shared strategies to support long-term economic growth in Greater Albuquerque. Participants engaged in forward-looking dialogue on how to translate ideas into actionable initiatives, reinforcing the importance of coordinated, data-informed collaboration across the region’s economic development ecosystem.
3. Drive Development of Commercial Space
Throughout Q1, AREA has taken a proactive, hands-on approach to supporting both landowners and public sector partners in advancing submissions for the State’s Site Readiness Program. This has included direct outreach to identify viable sites, one-on-one coordination to guide partners through program requirements, and technical assistance to strengthen application competitiveness.
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.
7 Governance, Advisory Council and Investor Programs Q2
3 BD Trade Shows, Market Visits, and Conferences Attended
5 AREA Q2 Community Speaking Engagements
AREA’S Q2 COMMUNITY ENGAGEMENT
AMBASSADORS LUNCH & LEARN
In June, AREA hosted its Ambassador Lunch & Learn at Kairos Power, offering ambassadors an inside look at one of the region’s most innovative clean energy companies. Kairos Power is developing advanced nuclear reactor technology designed to deliver safe, reliable, and carbon-free energy, positioning the company as an emerging leader in nextgeneration energy solutions within a rapidly evolving global market.
During the session, ambassadors learned more about Kairos Power’s approach to engineering innovation, regulatory engagement, and long-term commercialization of advanced reactor systems. The discussion highlighted the company’s role in advancing energy resilience and supporting national decarbonization goals, while also underscoring its importance as part of the broader clean energy and technology ecosystem taking shape in New Mexico and the Southwest.
The visit provided ambassadors with a deeper understanding of how cutting-edge energy companies contribute to regional economic diversification, high-skill job creation, and researchdriven industry growth. It also reinforced the value of continued collaboration between industry, economic development partners, and community stakeholders in positioning Greater Albuquerque as a competitive hub for advanced energy innovation.
BUILDING LASTING PARTNERSHIPS
In June, AREA convened a Leadership Roundtable bringing together board members, community leaders, and key regional partners for an in-depth, facilitated discussion centered on Strategic Doing, a collaborative framework designed to guide complex, cross-sector initiatives through action-oriented planning and shared accountability.
The session provided a structured environment for participants to engage in meaningful dialogue about the region’s most pressing economic development priorities, while also identifying opportunities for stronger alignment across organizations and initiatives. Rather than focusing solely on long-term visioning, the conversation emphasized how to move from ideas to execution—breaking down larger regional goals into actionable steps that can be advanced collectively across public, private, education, and nonprofit partners.
Participants explored how Strategic Doing principles can help strengthen collaboration across the Greater Albuquerque ecosystem, including improving communication between stakeholders, leveraging existing assets more effectively, and building agile working groups around shared opportunities. The discussion also highlighted the importance of maintaining momentum between convenings, ensuring that identified priorities translate into measurable progress and sustained regional impact.
Overall, the Leadership Roundtable reinforced the value of intentional, cross-sector collaboration in driving economic growth and competitiveness. It also underscored AREA’s role in convening partners, facilitating strategic alignment, and supporting a coordinated approach to advancing long-term regional prosperity.
2026 BIO INTERNATIONAL CONVENTION
In June, AREA joined partners at the BIO International Convention 2026 in San Diego, California, one of the world’s largest and most influential gatherings for the life sciences and biotechnology industry. The convention convened global leaders from across biotech, pharmaceuticals, research institutions, investment firms, and economic development organizations to explore emerging innovations, investment opportunities, and the future of the life sciences sector.
AREA Vice President of Business Development Aida Roberts participated in the conference alongside a strong New Mexico delegation, engaging in meetings and discussions aimed at elevating Greater Albuquerque’s visibility within the global bioscience ecosystem. Working in close collaboration with partners including University of New Mexico Health Sciences, New Mexico Bioscience Authority, New Mexico Partnership, New Mexico Venture Studios, and the Sandoval Economic Alliance, AREA helped showcase the state’s growing bioscience assets, research strengths, and commercialization potential on an international stage.
Throughout the convention, the delegation highlighted New Mexico’s expanding life sciences ecosystem, including strengths in bioscience research, healthcare innovation, advanced manufacturing, and early-stage company development. Meetings with industry leaders and potential investors provided opportunities to position the region as a competitive and collaborative destination for biotech expansion, while also strengthening relationships that support long-term business attraction and retention efforts.
The experience reinforced the importance of New Mexico’s coordinated approach to bioscience growth and underscored AREA’s role in advancing strategic partnerships that connect local innovation with global industry opportunities.
2026 STATE OF THE SPACE INDUSTRIAL BASE CONFERENCE
In May AREA participated in the State of the Space Industrial Space Conference through a collaborative exhibit table in partnership with New Space Nexus, helping elevate Greater Albuquerque’s presence within the rapidly expanding national space economy dialogue. The conference convened industry leaders, government representatives, entrepreneurs, and investors to discuss the current landscape and future trajectory of space commercialization, advanced aerospace technologies, and emerging market opportunities across the space sector.
AREA’s participation provided a platform to highlight New Mexico’s growing role in the space industry, including its strengths in research, testing and evaluation capabilities, advanced manufacturing, and defense and aerospace innovation. Through direct engagement with attendees, the team helped showcase the region’s unique assets, from national laboratory partnerships to a skilled technical workforce and a strong ecosystem of companies driving next-generation space technologies.
Overall, the conference reinforced the momentum of the region’s aerospace and space industry cluster and highlighted AREA’s continued commitment to advancing partnerships that support innovation, attract high-value investment, and expand New Mexico’s footprint in the global space sector.
AREA BOARD OF DIRECTORS
