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A Sandia National Laboratories sign is seen in this file photo. (Courtesy Sandia National Laboratories)
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Tech park spurs economic development
Updated: Wednesday, 29 Aug 2012, 1:57 PM MDT
Published : Wednesday, 29 Aug 2012, 1:57 PM MDT
ALBUQUERQUE, N.M. (AP) - A review of the Sandia Science and Technology Park in Albuquerque shows the public-private development has spurred hundreds of millions of dollars in economic activity over the last 14 years.
The Mid-Region Council of Governments conducted the economic assessment. The findings were announced Tuesday by Albuquerque and Bernalillo County officials.
The research park was established in 1998 as a partnership between Sandia National Laboratories, the U.S. Department of Energy, the city, county and other organizations.
The review shows the park has produced more than $73 million in tax revenue for the state and more than $10 million for the city.
Jobs related to the park have generated $3 billion in wages.
By the end of 2011, the park had about 1,500 private-sector jobs and another 1,000 jobs associated directly with Sandia Labs.
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