New plan lays out how Albuquerque can grow its economy

ALBUQUERQUE, N.M.- Albuquerque Economic Development had the help of two consultants and numerous members of the community to develop the strategic plan they announced Tuesday.

The goal is to grow the local economy by focusing on six target clusters.

• Aerospace
• Biosciences
• Renewable energy
• Digital media and film
• Corporate and professional services
• Manufacturing

Meeting the goal requires a hard look at what makes Albuquerque weak and what makes it great.

"In terms of strengths, everybody was quick to talk about the natural beauty, the quality of life, the climate," said Ionna Morfessis, strategic plan consultant.

Other strengths include the city’s central U.S. location, the presence of federal and military labs, and a high concentration of people with masters, professional and doctorate degrees.

Weaknesses include:

• Crime
• Poverty
• Homelessness

"Improving K-12 education, growing and diversifying the region’s economic base," Morfessis said. "This is mission central to the entire community."