New report highlights diversity in Albuquerque

ALBUQUERQUE, N.M. – A new report compiled by real estate firm CBRE and the Albuquerque Regional Economic Regional Alliance aims to get more people to consider living and doing business in Albuquerque.  

The report lays out what makes Albuquerque unique compared to other cities. 

“With 63% diversity among our population, we are well above the national average of 41.5%,” said Jim Chynowyth with CBRE Albuquerque.

And what makes Albuquerque the place to do business.  

“We have been recognized as a top 25 emerging market for tech talent, one of the best cities to live and work in as a moviemaker. Number seven on the list of best 10 cities for recreation,” said Danielle Casey, a CBRE area president and CEO. 

The opportunity is there, but it doesn’t mean it will be nothing but smooth sailing.  

“There is a great deal of uncertainty in the economy right now, probably levels that we’re not used to seeing,” said Carsten Raaum a CBRE associate research director.

Analysts with CBRE expect the U.S. to slip into recession in the second half of this year. 

“We don’t expect anything like what we saw in 2008, or 2009. So it’s important that that’s not the type of downturn that we’re expecting unemployment rate will rise, but not by an amount that we saw 15 years ago,” said Raaum. 

CBRE expects recovery from a recession to be slower in Albuquerque. But the outlook for the Duke City is still positive. 

“I think Albuquerque does have a lot of things going for it, where it can position itself well, for growth in the longer term,” Raaum said. 

Analysts say the Albuquerque region is well positioned for growth in science and technology, especially in the bioscience industry. They say the low cost of living and outdoor recreation options will attract people here.   

“As we see some of those other cities in the region, really kind of become cost prohibitive, from people to be able to move into that that want to get out there, especially kind of younger people, I think Albuquerque will become a good option,” said Raaum. 

To see the full CBRE report, click here.