Blaming “mindset” and our reliance of federal funding for a failure to diversify our economy ignores the fact that there has been a complete failure of leadership by the business community and elected officials to do what needs to be done to diversify our economy. https://www.abqjournal.com/874273/nm-mindset-tied-to-death-spiral.html
Organizations such as the Albuquerque Chamber of Commerce, the Economic Forum and the National Association of Commerce and Industry (NAIOP) must share some responsibility for having done little next to nothing over the last eight years to to attract new businesses to Albuquerque. The City of Albuquerque under the Berry Administration has failed to attract one single corporation to re-locate to Albuquerque.
The City of Albuquerque could use all sorts of financial incentives for economic development such as tax increment districts (TIDS), industrial revenue bonds, even fund and economic development investment program for initial start up funding with claw back provisions. The City should be concentrating on growth industries like health care, manufacturing, transportation and shipping and especially the film industry which I think is Albuquerque’s future. Public-Private partnerships in the growth industries where ever possible should be developed.
Albuquerque can turn itself and our economy around with an aggressive and massive investment to reinvent itself like has been done by great American cities such as Pittsburgh, Oklahoma City, Columbus, Denver and others that have invested billions in their communities.
Albuquerque’s taxpayers must be convinced by its leaders of the importance of investing in major projects, and not just cram such projects down our throats like the ART bus project.