Economic Development

COVID-19: Micro-Business Relief Program

The City of Albuquerque Economic Development Department is providing a $500,000 Micro-Business Relief Program to provide vital economic support to small businesses needing assistance in overcoming the temporary loss of revenue due to COVID-19. The City of Albuquerque will provide working capital grants of up to $5,000 for qualifying small businesses impacted by COVID-19.

The City will provide relief for small businesses across Albuquerque that are seeing a reduction in revenue because of COVID-19. The City is offering small businesses with fewer than 5 employees a grant of up to $5,000 to support day-to-day operating expenses only of the business, such as payroll or losses due to destabilizing events.

NOTE: Applications to the Micro-Business Relief Program Closed on Friday, April 3, 2020

More Information

COVID-19: Small Business Webinar

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COVID-19: Information, Resources, and Tips for Businesses, Organizations, and Workers

A comprehensive guide of information, resources, and tips for businesses, organizations, and workers navigating COVID-19.

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#SupportLocalABQ

We are also actively looking to promote Albuquerque small businesses who are greatly feeling the affects of the COVID-19. If you are a small business, you can submit a promotion/deal, an online website, or information on to-go and delivery services at iheartabq.com. iheartabq.com is an Albuquerque business directory for businesses and individuals operating during the current situation.

For a list of Albuquerque restaurants offering delivery and takeout check out this Yelp List or Visit Albuquerque's Restaurant and Dining Service List

We are also echoing small business social media posts on our accounts. Follow and tag us in posts on Instagram, Twitter, and Facebook, on social media at @CABQEconDev.

Best Practices for Teleconferencing and Video Conferencing

We have put together some tips together for those leveraging technology during COVID-19. If you are holding Teleconference or Video Conference meetings following these simple best practices will help you have an effective and productive digital meeting.

Best Practices for Phone and Video Meetings

Albuquerque is the urban center of New Mexico and one of America’s best small cities. The 32^nd largest city in the country, Albuquerque is rich in potential and its economy is emerging with strength in healthcare, research, technology, aerospace, energy, film, and advanced business services.

Albuquerque is a top city to start, expand or relocate a business and offers a skilled workforce and a business-friendly environment. Companies like Netflix, NBC Universal, LSI, RiskSense, Carenet, and many others have selected Albuquerque because it is a great place to do business and provides an affordable and excellent quality of life. Albuquerque welcomes businesses of all sizes and types, from start up’s to expansions and relocations of global businesses.

We have an economic development plan that will deliver real impact for Albuquerque. Our strategies provide benefits to both businesses and the people of Albuquerque. For businesses, we are supporting new enterprise creation, industry cluster development/support, and strategic attraction and recruitment of businesses that align with our priorities. For the people of Albuquerque, we are prioritizing quality job growth, employee and workforce development, and are making a concerted effort to reverse disinvestment in underserved communities and neighborhoods while ensuring equitable opportunities for everyone in our city.

Our approach focuses on the following areas:

1. Increment of One - We can create jobs one, two, three, ten at a time. Business expansion and workforce development are key to the economic development plan. By partnering with local universities and colleges, the City of Albuquerque provides incentives and resources, to support a ready and highly skilled workforce that meets the demands of employers and helps businesses scale up.
2. Buy Local – This is a two-fold initiative that both encourages the community to make conscious decisions to support locally-owned business, as well as internally the City is using its purchasing power to ensure local businesses are the providers of goods and services for the City - bringing back millions of tax dollars currently sent to out-of-town vendors into Albuquerque’s economy. Shopping and doing business locally means keeping our money in the community resulting in a major positive impact on the economy.
3. Smart Recruitment, Retention, and Expansion - We are focused on recruiting companies from specific industries that build on Albuquerque’s existing assets. We support new enterprise creation, cluster development, and strategic attraction and recruitment of businesses that align with and complement existing strengths.
4. Creative Economy and Film – Albuquerque offers a unique culture, cuisine, art, and music scene. The entrepreneurial spirit is strong and an inherent part of Albuquerque's culture. The creative economy and film industry are key components of the economic vitality in Albuquerque.
5. International Business - We are capitalizing on our unique placement along two major interstates, with an international airport and a foreign trade zone while also promoting Albuquerque as a strategic location for foreign small to medium-sized enterprises for our local companies.
6. Placemaking - Mayor Keller believes “the measure of any great City is how people and places are connected.” The City’s Economic Development Department is connecting new development projects with existing development projects and existing activity hubs, and using placemaking tools and strategies to develop connectivity as well as engaging with communities to drive economic growth and development.

Working with Albuquerque area Chambers of Commerce, Albuquerque Economic Development and other community partners, we are developing Albuquerque’s economy by applying an integrated, community-oriented approach using an equity lens to create jobs, ignite innovation, and foster economic development in order to create an economy that works for everyone.