City of Albuquerque Opens Business Resource Center
ALBUQUERQUE — Today, the City of Albuquerque Economic Development Department announced the New Mexico Minority Business Development Agency (NM MBDA) and the City of Albuquerque’s Small Business Office (SBO) will now be co-housed at a historic building in the Barelas neighborhood that has long been a hub for community and business support services. The move allows both programs to better serve Albuquerque and New Mexico’s entrepreneurial ecosystem, offering streamlined services and bolstering the local economy from a single, accessible location at 700 4th SW.
“Making it easier for small business to succeed leads to a stronger economy where everyone has the opportunity to thrive,” said Mayor Tim Keller. “We’re giving small businesses a one stop shop for support by bringing resources and services together under one roof.”
“Local businesses are the beating hearts of our communities and backbone of our economy. That’s why, four years ago, I wrote the federal legislative provision that re-opened New Mexico’s Minority Business Development Center and fought to fund its operations. And it’s why I am so pleased to celebrate this expanded Center in Albuquerque and the locations now open in Las Vegas and Las Cruces,” said Senator Martin Heinrich. “With the $2.5 million-plus in federal resources I’ve been able to deliver, we are expanding support for local businesses across our state as they create the types of careers New Mexicans can build their families around, in their home communities.”
Established in 2019, the SBO provides the service and tools to help start, expand, or relocate businesses in Albuquerque. Through online resources and in-person customer service, the SBO connects owners to the right people and appropriate City agencies that can provide assistance in navigating City processes such as permitting, licensing, business services, and understanding the City’s procurement process.
The NM MBDA opened in December of 2020, and has since served over 500 socioeconomically disadvantaged business enterprises with services such as client bid opportunity sourcing, help with certifications and registrations, lending and equity proposal packaging, capital lending access, strategic planning consultation, international trade assistance, and training.
“This new office represents a significant milestone in our partnership with the City of Albuquerque and our shared goal to lift up businesses in Albuquerque and across the state,” said Gabriela Marques, Center Director for the New Mexico Minority Business Development Agency. “It’s an opportunity to make a lasting impact on our economy by providing accessible, comprehensive support in one location.”
The NM MBDA was recently awarded with a Century Club Award from the U.S. Minority Business Development Agency, a program within the U.S. Department of Commerce. The Century Club Award recognizes MBDA Centers that surpass the federally program’s success metrics — scoring above 100 — in a number of areas including job creation or retention, access to financing and capital, and clients served.
The SBO is the recipient of a 2024 New Mexico IDEA Economic Development Excellence Award in the Entrepreneurial & Small Business Development category. The award recognizes projects or initiatives that offer an innovative approach to cultivating entrepreneurial culture.