Albuquerque Ranked a Top 10 “American City of the Future”
May 13, 2013
Albuquerque, NM— Today Albuquerque Mayor Richard J. Berry announced Albuquerque’s newest ranking as the 9th Overall Best Mid-Sized American City of the Future. The study, conducted by FDI (Foreign Direct Investment) Intelligence, looks at cities from all over the western hemisphere and scores them according to their economic potential, human resources, cost effectiveness, infrastructure, business friendliness and foreign direct investment strategy. Other cities to make the list include Quebec City, Canada; New Orleans, Louisiana; and Richmond, Virginia to name a few.
"It’s great to see that the word is getting out,” said Mayor Berry. “Continued investment in transportation infrastructure at New Mexico’s Borderplex combined with Albuquerque’s sophisticated labor force and centralized location in the U.S. Southwest is positioning us to become a major trade and logistics hub."
This news comes shortly after The Boyd Co. ranked Albuquerque as a top western city to operate a distribution center served by rail stating that the City’s comparatively low cost could make Albuquerque a contender for large companies looking for a place to put an intermodal (train, truck, and cargo plane) facility.
"We’ve been working hard to get to this point," added City Economic Development Director John Garcia. "Let’s not forget that this year we were able to lower our corporate income tax, move to a single sales factor tax apportionment for manufacturers, and now we can even offer a locomotive fuel tax exemption for any company that invests $50M or more to build intermodal facilities in New Mexico."
"The future is looking very bright," noted Bernalillo County Economic Development Director Mayling Armijo. "We know that all the tools are in place and we will continue to work hand-in-hand with Albuquerque Economic Development (AED) and the Albuquerque-Bernalillo County Trade Alliance so that industry from around the world knows it too."
The Albuquerque-Bernalillo County Trade Alliance is an intergovernmental partnership created to expand the region’s international trade promotion efforts. The Trade Alliance offers international business assistance to local companies and actively promotes the City/County as a strategic location for foreign industry to set up operations.