Albuquerque Economic Development program helping metro businesses expand


Albuquerque entrepreneurs are getting help from the city to expand their businesses. Albuquerque Economic Development’s Existing Business Development Team works with thousands of businesses in the metro, giving them the resources they need to succeed.

Many people are aware of recruitment of major companies that we’re bringing into town and it gets a lot of press, said Bob Walton, Vice President of Albuquerque Economic Development.

While the city is dedicated to bringing in new business, a team of three is dedicated to helping those already up and running. The beauty of the incentives that we have in the state is they not only apply to companies that we’re recruiting, but what people didn’t know is they also apply to local, existing businesses, said Walton, who also has an expertise in manufacturing-based businesses.

The team helps with everything from getting incentives and tax credits to working with partners that can grow a business in things like size or on social media. When we meet with a company for the first time, we try to find out what is preventing them from growing and building their business, said Walton. We try to help them wherever we can with the expertise we have.

Each member of the team has their own expertise. They are the backbone of our economy, bringing them the consulting services and resources to help them grow, said Wendy Ederer, who specializes in small businesses. We’ve got phenomenal business owners in the metro area.

Many times when we first meet with a company, they’ll ask, ‘Is this going to cost me anything?’ and we say, ‘No, it’s free,’ said Dennis Houston, who specializes in accounting and finance.

The overall goal of the team is creating a community of resources to keep our economy going and growing. I tell a lot of business owners to not be too hard on themselves because nobody knows everything, said Houston. I haven’t met that person yet and that’s why we all need each other, and we can all help each other.

The Existing Business Development Team currently serves companies in Bernalillo, Sandoval, Valencia, and Torrance counties. Albuquerque Economic Development has been able to work with more than 2,000 companies through this program.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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