Albuquerque’s economy is now on an upward trajectory, and the Economic Development Department (EDD) is working to ensure residents and businesses participate in the success. Under Mayor Tim Keller’s leadership, for the first time since 2008, we passed pre-recession peaks for total employment. Jobs are growing, workers have access to training, and businesses are staying open and in Albuquerque. We aren’t making the next Denver or Austin; we are building something uniquely local in measurable ways.
More than 1,300 high-quality jobs were created this year through the mayor and City Council’s Local Economic Development Act (LEDA) projects and three Industrial Revenue Bond (IRB) projects.
NBCUniversal is bringing 330 full-time jobs and $500 million in film and television production, an economic impact of $1.1 billion over 10 years. Jabil Inc. chose Albuquerque for a 3D printing center of excellence, building our tech hub assets, and investing nearly $42 million in new technology and equipment to create 120 jobs. And with a final vote from our City Council, clean-tech engineering company Kairos Power will invest up to $125 million, creating over 65 jobs with average salaries of at least $100,000.
We’ve committed $4.35 million in LEDA funds for these projects in partnership with the state. And, we’re using IRBs to revitalize key areas. Arrive Hotels & Restaurants will invest $22 million rehabilitating the iconic 1960s-era Hotel Blue at Central and Eighth, creating 75 jobs.