By Andrew Webb
Journal Staff Writer
Albuquerque's growing population and relatively low wages will make it a good bet for big employers, provided local governments can improve public education and keep its youngest workers here, according to a new labor market study released on Friday.
William Fredrick, president of site selection consultants The Wadley-Donovan Group, which performed the study over recent months, said the metro area has great potential for knowledge- and technology-based industry.
It is projected to grow at 9.1 percent between 2005 and 2010— significantly higher than the predicted U.S. average for the same period of 6.3 percent. Furthermore, he said, the metro area has a wealth of qualified workers— owing in no small part to the presence of government laboratories.
Area wages are about 94 percent of the national average, which, coupled with the city's desirability and affordability, make the city appealing to large employers, Fredrick said.
But he also said local K-12 school performance, as well as less-than-expected interface between employers and area post-secondary schools, could scare off potential new employers. Poor education could lead to a shortage of skilled workers in the long term, and in the short term could prove unappealing to educated professionals that companies try to recruit here.
"New Mexico is underperforming other states in math and science," Fredrick said.
The study also found that many employers, despite their needs for skilled employees, did not seek help from local institutions, such as the University of New Mexico or Central New Mexico Community College. Increasing this interaction, such as apprentice programs or customized training, could help encourage more young students to learn needed skills as the general population ages— a trend some say could lead to a serious shortage of labor in the next decade, Fredrick said.
"Employers have to be a part of this as well," he said, acknowledging that local educational institutions do attempt to reach out to the business community.
The city's over-75 population is also expected to grow significantly faster than the nation's, the study found.
The study was done at the behest of Mesa del Sol developer Forest City Covington, which helped cover the study's $100,000 cost, along with the city, nonprofit recruiter Albuquerque Economic Development, PNM and the state. Mesa del Sol expects to use it in its efforts to recruit employers to the 12,900-acre development south of the Albuquerque International Sunport, where the developer hopes to eventually create 50,000 jobs.
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