In Q1, all of New Mexico was fully engulfed in activities related to the 2025 Legislative Session. AREA focused its efforts on offering data and education related to two key bills that have been a priority in its AREA 1.0 Strategic Plan since launch:
Senate Bill 169 – Strategic Economic Development Site Readiness which creates a dedicated funding mechanism and a structured process for identifying and preparing strategic economic development sites across New Mexico.
Senate Bill 170 – NMFA Definitions, Funds & Rates which enables the New Mexico Finance Authority to offer low-interest loans to rural electric cooperatives for infrastructure deployment and streamlines regulatory processes for utilities to pre-deploy infrastructure to certified sites.
In addition to the top priority bills above, two additional bills offer significant promise for the future of New Mexico:
House Bill 19 – Trade Ports Development Act sponsored by Representative Patricia A. Lundstrom, this bill enacts the Trade Ports Development Act to establish trade port districts and create the Trade Ports Advisory Committee.
It facilitates public-private partnerships to develop trade ports and creates the Trade Ports Development Fund to provide grants and loans supporting infrastructure and economic expansion.
House Bill 20 – Technology & Innovation Division introduced by Representative Meredith A. Dixon, this legislation establishes a Technology and Innovation Division within the New Mexico Economic Development Department and creates the Technology and Innovation Network Advisory Board. It also enacts the Research, Development, and Deployment Fund Act, which will provide matching funds for technological advancement projects across the state.
DOWNTOWN REVITALIZATION EFFORTS ADVANCE
Bill Keleher of Smidt, Reist & Keleher, P.C.
In 2023, AREA convened a Quarterly Investors event on the top floor of 500 Marquette downtown, when it was a completely vacant shell, and invited downtown business improvement district experts from Memphis, TN and Gilbert, AZ to discuss how their urban cores impact their regions, and ways that they have accomplished great transformations.
Fast forward two years, and dialogue and action are at the forefront of a property-owner driven effort to institute a new Downtown Business Improvement District by Q3 of 2025. AREA is proud to be a partner and supporter in the efforts of private property owners in downtown Albuquerque to explore the potential for the creation of a downtown Business Improvement District.
Why? Because companies seeking new market expansion opportunities often use the health and vibrancy of a metro’s urban core as an indication of overall community quality of life, and the workforce they are trying to attract want to live in communities with quality of place and activities they can enjoy. From AREA’s perspective, that means that downtown matters to everyone in the entire region as a critical asset for business attraction, retention and growth. BID’s are one of many tools that are commonly used to enhance downtown’s across the country, and offer a potential benefit to enhancing our already unique, historic and cultural urban core.
This effort is made possible by the support and partnership of the City of Albuquerque Metropolitan Redevelopment Agency by offering resources such as the technical services of Progressive Urban Management Associates (P.U.M.A.) to aid in these efforts. LEARN MORE by scanning the QR code or visiting abq.org/downtownbid
Sal Perdomo, Titan Development
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
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
