ALBUQUERQUE — The City of Albuquerque’s Economic Development Department has unveiled a new Business Resource Center, strategically located in a historic building in the Barelas neighborhood. This center will jointly accommodate the New Mexico Minority Business Development Agency (NM MBDA) and the City’s Small Business Office (SBO), enhancing their ability to support the local entrepreneurial community. The facility, situated at 700 4th SW, aims to streamline access to resources and services, thereby strengthening the local economy.
Mayor Tim Keller emphasized the importance of this initiative, stating, “Facilitating small business success is crucial for fostering a robust economy where everyone can thrive. This new center provides a comprehensive support hub by consolidating resources and services in a single, accessible location.”
Senator Martin Heinrich expressed his enthusiasm for the initiative, citing the critical role local businesses play in community vitality and economic stability. “Four years ago, I championed the federal provision that reinstated New Mexico’s Minority Business Development Center and worked to secure funding for its operations. I am thrilled to celebrate the expansion of this center in Albuquerque, alongside the newly opened locations in Las Vegas and Las Cruces,” he noted. “With over $2.5 million in federal funding that I have helped secure, we are broadening support for local enterprises throughout our state, enabling them to create sustainable careers for New Mexicans in their own communities.”
Founded in 2019, the SBO is dedicated to aiding businesses in their establishment, growth, or relocation within Albuquerque. It offers a variety of online resources and in-person assistance, connecting business owners with the right contacts and city agencies to help navigate processes such as permitting, licensing, and procurement.
The NM MBDA, established in December 2020, has successfully assisted more than 500 socioeconomically disadvantaged businesses. Its services include sourcing bid opportunities, assisting with certifications and registrations, packaging loan proposals, providing access to capital, offering strategic planning consultations, and facilitating international trade assistance and training.
Gabriela Marques, Center Director for the NM MBDA, stated, “This new office marks a significant milestone in our collaboration with the City of Albuquerque, underscoring our shared commitment to uplift businesses across Albuquerque and the state. It provides a unique opportunity to make a lasting economic impact by offering comprehensive support in one central location.”
Recently, the NM MBDA received the prestigious Century Club Award from the U.S. Minority Business Development Agency, a recognition given to MBDA Centers that exceed federal success metrics in areas such as job creation, access to financing, and the number of clients served.
Additionally, the SBO was honored with the 2024 New Mexico IDEA Economic Development Excellence Award in the Entrepreneurial & Small Business Development category. This award acknowledges innovative projects and initiatives that foster entrepreneurial culture.
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