ALBUQUERQUE, N.M. (KRQE) – A report by the Milken Institute has identified Albuquerque as number 89 in the Tier 3 cities category which is 72 spots higher than in the 2020 report. The annual Best-Performing Cities report uses its own specially created index in order to evaluate how well cities promote economic activity compared to other cities.
“We’re grateful that Albuquerque has made leaps and bounds on this list, even amid a global pandemic,” said Mayor Tim Keller in a press release. “We worked to keep the bottom falling out of the economy and now we’re pushing towards a recovery that will make our city’s economy more vibrant and resilient than ever.”
The Milken Institute is a nonprofit, nonpartisan body of experts providing solutions to global challenges. According to the report, the institute uses expertise and insight collected through research and the meeting of experts and innovators from different backgrounds to create programs and policy initiatives.
The report lists Albuquerque as one of the cities with the biggest gains among Wichita, Kansas that jumped up 86 places, and Madison, Wisconsin that moved up 59 places. According to the report, all top 10 cities with the biggest gains ranked higher than the average on one and five-year measures of housing affordability and short-term job growth.
The cities were also all located outside traditional high-tech corridors in the northeast and on the west coast. The report states that these findings show the importance of costs of living for making economic gains accessible to all residents specifically given the significant level of recent instability in the nation’s economy.
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Milken Institute rankings are based on scores that are determined using short and medium-term growth in jobs, wages, salaries, and technology output. For 2021, the index was updated to show cities that have built inclusive local economies by adding measures of housing affordability and access to broadband internet.
The City of Albuquerque reports that it recently launched the ABQ Home for Life Campaign that highlights the city as an optimal location for people who are looking for a healthy and relaxed lifestyle. The campaign offers interactive quizzes showing residents more information about Albuquerque and why the city should be their “home for life”.