The city is using a $300,000 grant from the Federal Minority Business Development Agency to open the facility which will be housed at the Hispano Chamber of Commerce in the Barelas neighborhood. The center will help connect mid-sized businesses with clients and lenders, offer consultations and training, guide business owners through certifications, and more. The center will focus largely on business sectors already growing fast in Albuquerque.
“Even in the science and technology sectors that we tend to frankly overlook. Whether it’s partnerships with the labs, the base; a lot of our high-tech companies are also minority-owned and that’s a real strong point for our city,” said Mayor Tim Keller.
The city applied for the funding before COVID-19 but says the timing has worked out to help businesses work through the crisis.
We’re excited to announce the opening of the Albuquerque MBDA Business Center! It will further our department’s efforts to build an economy that works for everyone, which includes a strategic focus on supporting minority-owned small businesses.— CABQ Economic Development (@CABQEconDev) September 14, 2020
More info: https://t.co/slsBM1u3BE pic.twitter.com/sAUtwjNJG6