Untangling the economic development web - developments in Albuquerque

New Mexico Business Journal, Sept, 1993

SOMETIMES the left hand doesn't know what the right hand is doing.

On the economic development scene, it happens in Albuquerque the same as in most other metropolitan areas.

There are 45 different economic development organizations with a variety of goals operating in the Duke City -- and a lot of private business executives haven't the faintest idea that many of them even exist.

Signe Rich, manager of the community economic development division for the city of Albuquerque, says it's no easy chore to get the groups to coordinate development programs.

The city's new economic development team sees a need to pump fresh ideas into the decision-making process; develop the technology transfer concept and encourage environmental type businesses to locate or expand in Albuquerque.

The proximity of Sandia National Laboratories is a plum to encourage private environmental businesses to develop new products and new technologies, according to Rich.

THE ENTIRE spectrum of economic development in Albuquerque is broadening, says Rich.

It's becoming more than trying to attract major industry or trying to retain a particular industry, says Rich.

It's also becoming neighborhood-based and looking for new sources of capital for small businesses.

Whether streamlining the planning approval process and economic development efforts are to be credited with attracting new industry is hard to say, but select businesses are expanding or relocating to Albuquerque.

"Californians, for instance, are showing increasing concern about companies moving out to New Mexico, Arizona, Utah," says Benjamin Montoya, the new president and chief executive officer for Public Service Company of New Mexico.

"In California, they're beginning to see new Mexico and other states as becoming very progressive," says Montoya.

Economic developers concede, however, that smoothing out the Duke City's wrinkles could bring a lot more expansion.