City Helps Drive New Mexico to Top 10 for Minority-Owned Businesses

ALBUQUERQUE – New Mexico has been recognized as one of the top 10 states in the U.S. for minority-owned businesses, ranking 8th nationwide in LendingTree’s recent study. This achievement reflects the City of Albuquerque’s dedication to fostering a thriving and inclusive business environment, with a range of services and resources available to support entrepreneurs from diverse backgrounds.

“When we build up and support minority-owned business, we drive economic growth and equity across our city,” said Mayor Tim Keller. “We’re committed to empowering entrepreneurs with the tools they need to succeed.”

“By providing targeted resources and opportunities, we’re not just supporting minority-owned businesses; we’re strengthening our entire economy,” said Economic Development Director Max Gruner. “This ranking highlights the impact of our efforts and underscores the value of the resources available to entrepreneurs in Albuquerque.”

The City of Albuquerque offers robust support for businesses through initiatives like:

• Small Business Office: Providing guidance and resources to help businesses start, expand, or relocate to Albuquerque.
• New Mexico Minority Business Development Agency: Provides assistance to businesses of all sizes throughout New Mexico. Services include access to capital, access to contracts, and events and training.
• Job Training Albuquerque: The City’s premier workforce development program offering more than 150 skills-based trainings at no cost to the small business owner.

These programs exemplify Albuquerque’s leadership in promoting economic diversity and opportunity, contributing to New Mexico’s top 10 ranking.

According to LendingTree, minority-owned businesses are critical drivers of innovation, job creation, and community growth. Albuquerque’s commitment to nurturing these enterprises positions the city as a hub for economic inclusivity and success.

For more information about Albuquerque’s business services or to explore resources for local entrepreneurs, visit abqedd.com.

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