ALBUQUERQUE, N.M. (KRQE) – In a recent report, Albuquerque ranked ninth in the nation amongst other major cities with a population of half a million or larger for economic growth. “It’s really a nice thing to hear that we’re 9th in the country,” owner of Lindy’s Diner Steve Vatoseow said. “It’s surprising, I didn’t realize that, but I can believe it.”
City economic leaders say they believe the uptick in economic growth is due to job creation and an increase in small businesses. The city’s economic development department says there has been a 150% increase over the last five years in business applications.
“We see a good number of new businesses that are locating here,” Director of Economic Development Max Gruner said. “Because they fulfill some of the supply chain needs of these larger enterprises. We’re also seeing a lot of our established smaller/medium-sized businesses expanding.”
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The study was measured by median income levels, which were reported as a 30% growth in the past four years, and business applications. The city also cites large contributions towards the economic growth from our universities and big companies setting up shop here, such as Netflix Studios and Pacific Fusion…