City of Albuquerque Economic Development Department

Name

City of Albuquerque Economic Development Department

Legal name

City of Albuquerque Economic Development Department

Website

https://abqedd.com

Company type

Public

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Government Economic Development Services

NAICS

Administration of General Economic Programs (92611)

SIC

Services-Employment Agencies (7361)

akta.pro primary industry

Economic Development & Business Licensing (Local) (BPAIACAN)

akta.pro secondary industries

Public Workforce Development Programs (WIOA/One-Stop Career Centers) (EDAAAOAA), Incumbent Worker Training & Upskilling (EDAAAOAE)

Keywords

• Economic development services
• Workforce development programs
• Small business assistance
• Business incentive programs
• Film industry support

Headquarters

HQ city

Albuquerque

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Government Funding: The department operates as a City of Albuquerque government department funded through public budgets and economic development funds. Services are provided free of charge to businesses and residents.

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

The City of Albuquerque Economic Development Department is a municipal government agency that recruits, retains, and supports businesses and jobs in Albuquerque. It delivers free workforce training, small business coaching, film industry support, and access to economic incentives such as Industrial Revenue Bonds, LEDA funding, Foreign Trade Zone benefits, and Opportunity Zone tax advantages. The department also runs targeted industry development initiatives in aerospace, bioscience, quantum technology, and directed energy to grow and diversify the local economy.

Product overview

The City of Albuquerque Economic Development Department operates a portfolio of interconnected programs designed to grow and diversify the local economy. The core offerings include Job Training Albuquerque (JTA), a workforce development initiative offering free training to businesses and employees; the Small Business Office (SBO), providing coaching and resources to entrepreneurs; the Albuquerque Film Office supporting the creative economy; and the Business Resource Center (BRC) as a physical hub. Financial assistance programs include the Window Grant and economic incentives such as Industrial Revenue Bonds (IRBs) and LEDA funding. Industry-specific initiatives target sectors including quantum technology, aerospace, bioscience, and international trade through Foreign Trade Zones. The department also organizes community events like Food Truck Fridays and supports workforce development through the Workforce Leadership Academy.

Differentiator

Problem solved

Functional benefit

Brands

• Job Training Albuquerque (JTA): Workforce development initiative launched in 2020 providing free training to workers and helping local businesses grow through a partnership with CNM.
• Small Business Office (SBO)
• Albuquerque Film Office
• Window Grant Program
• Business Resource Center (BRC)
• Food Truck Fridays

Products and services

• Job Training Albuquerque (JTA) Free workforce training program offered in partnership with CNM, providing local businesses and employees training in areas such as project management, accounting, digital marketing, and data analytics. Connects employers with skilled talent and supports worker career advancement.
• Small Business Office (SBO) Central entry point for Albuquerque entrepreneurs and small businesses providing business coaching, workshops, resource fairs, and one-on-one assistance to help businesses start, grow, and succeed.
• Albuquerque Film Office City office supporting the film and digital media industry by connecting productions with locations, providing permits, and creating opportunities for local talent and students.
• Window Grant Program Financial assistance grant program for small businesses covering window repair and replacement, including vandalism-related damage, with reimbursement up to 80% of costs and a $5,000 cap.
• Business Resource Center (BRC) Centralized hub housing the Small Business Office and partner organizations like the Black Chamber of Commerce of New Mexico, providing one-stop access to guidance, technical assistance, and community connections for entrepreneurs.
• Quantum Initiative Strategic industry development initiative to position Albuquerque as a national leader in quantum computing, sensing, communications, and materials, including CNM's Quantum Technician Bootcamp training workers for quantum industry jobs paying $80,000-$90,000 annually.
• Workforce Leadership Academy Professional development program bringing together local leaders for learning and collaboration, run in partnership with The Aspen Institute to strengthen the city's workforce ecosystem.
• CABQ Economic Incentives Financial incentives offered by the City of Albuquerque to attract and retain businesses, including Industrial Revenue Bonds (IRBs), LEDA funding, and tax relief programs.
• International Business Development / Foreign Trade Zone Support for international business development including Foreign Trade Zone (FTZ) designation enabling manufacturers to defer or reduce tariffs and duties.
• Opportunity Zones Designated investment zones offering tax advantages to encourage economic growth and development in underserved communities.
• Food Truck Fridays Weekly community event on Civic Plaza supporting local food trucks, held every Friday from March through October.

Quantifiable outcome

• 4,335 workers trained since 2020
• +4 more outcomes

Named customers22 records

Segments8 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Twelve partnerships are on record, tiered core, supporting and notable.

• Black Chamber of Commerce of New Mexico (BCCNM)coreStrategic or Co-development Partner · 1 November 2025BCCNM relocated into the newly expanded Business Resource Center, bringing key resources under one roof. The chamber advances its mission of strengthening Black and underserved businesses through education, advocacy, mentorship, and networking.
• World Affairs Council of AlbuquerquesupportingStrategic or Co-development Partner · 1 March 2025Hosted Future of Korea delegation visit to strengthen international economic ties. Delegation included representatives from Korea Economic Institute of America, U.S. Department of State, and South Korean Embassy.
• Central New Mexico Community College (CNM)coreStrategic or Co-development PartnerPartnership with CNM to deliver Job Training Albuquerque (JTA) program, providing free workforce training. Also partnered on CNM's Quantum Technician Bootcamp training workers for quantum industry jobs paying $80,000-$90,000 annually.
• Associated General Contractors of New Mexico (AGC NM)coreStrategic or Co-development PartnerInnovative partnership delivering construction workforce training through JTA. Over 120 individuals trained through AGC NM alone, with participating businesses seeing tangible impacts in job creation and wage growth.
• Aspen InstitutenotableStrategic or Co-development PartnerAspen Institute's Workforce Leadership Academy brought together local leaders in Albuquerque to learn from one another and strengthen the city's workforce ecosystem.
• New Mexico Minority Business Development Agency (NM MBDA)coreStrategic or Co-development PartnerFederal agency providing business development support, helping connect businesses with federal contracting opportunities, marketing assistance, and growth resources. Multiple success stories attribute growth to NM MBDA support.
• Future Focused EducationnotableStrategic or Co-development PartnerPartnership providing internships that blend professional development with hands-on experience for students, helping cultivate the next generation of leaders in Albuquerque.
• Albuquerque Police DepartmentsupportingImplementation/ SI/ Consulting PartnerPartnership on Window Grant Program, where APD Business Crime Prevention Security Survey was completed by participants as part of the grant requirements.
• Albuquerque Film Office PartnerssupportingChannel Partner/ Reseller/ DistributorPartnerships with local businesses for film tourism including Breaking Bad Store, Old Town Ghost Tours, Rainbow Ryders, and local hotels. Film Office connects productions with local services and workforce.
• New Mexico TransloadingnotableStrategic or Co-development PartnerPublic-private partnership restoring rail infrastructure (Kirtland Air Force Base track) to enhance logistics network. Company operates first rail-served Foreign Trade Zone in New Mexico.
• PNM (PNM Resources)supportingStrategic or Co-development PartnerVitality Works expansion supported through LEDA funding and state incentives. No state income tax for manufacturing cited as major advantage. Vitality Works also works with PNM for community solar program enrollment.
• Tesuque Pueblo and Abiquiu FarmssupportingChannel Partner/ Reseller/ DistributorLocal herb suppliers for Vitality Works, decreasing reliance on international suppliers and strengthening New Mexico's agricultural economy.

Scale indicators20 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• City of Phoenix Community and Economic Development: Municipal economic development division focused on business attraction, retention, and small business support in a comparable Southwestern metro. Overlaps with ABQ on target industries including aerospace/advanced manufacturing.
• San Diego Regional Economic Development Corporation: Public-private regional economic development organization. Comparable in supporting industry clusters, workforce development, and incentive programs with a strong defense/maritime/advanced tech focus.
• Denver Economic Development & Opportunity (DEDO): City of Denver's economic development agency. Comparable in delivering workforce development, small business support, and industry attraction programs in a Western U.S. metro.
• Nashville Chamber (Economic Development): Regional economic development arm of the Nashville Area Chamber of Commerce. Comparable in business recruitment, retention, workforce development, and small business support for a fast-growing mid-sized metro.
• Greater Houston Partnership: Regional economic development organization for the Houston region. Comparable in industry cluster development (aerospace, energy, bioscience), workforce initiatives, and business retention and attraction strategies.
• City of Austin Economic Development Department: Municipal economic development department for a mid-large Sun Belt city. Comparable in delivering workforce programs, business attraction, and incentive packages, though Austin operates at significantly larger scale and budget.
• City of San Antonio Economic Development Department: Municipal economic development department for a similarly-sized Texas city. Comparable function in business attraction, workforce development, and small business assistance, with overlapping aerospace/defense sector focus.
• Greater Phoenix Economic Council (GPEC): Regional public-private economic development organization for the Phoenix metro. Comparable in business attraction, workforce development, and sector-based cluster strategies in aerospace and advanced industries.

Broad incumbents

• International Economic Development Council (IEDC): Professional association for economic developers. Comparable as the industry body that sets standards, training, and certification for the economic development profession that ABQ's department practices.
• U.S. Economic Development Administration (EDA): Federal agency within the U.S. Department of Commerce that funds infrastructure and workforce development. Sets the policy framework and provides grant funding that underpins many municipal EDD programs including ABQ's.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/CABQEconDev
• Facebookfacebook.com/CABQEconDev
• LinkedInlinkedin.com/company/city-of-albuquerque-economic-development-department

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about City of Albuquerque Economic Development Department