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Innovate Albuquerque Site Acquisition to Spur Downtown Job Creation, Business Growth

Industry: Commerical Building

Development of an “Innovation District” in Downtown Albuquerque in the works with purchase of the 7-acre, 7.2 million Innovate Albuquerque site estimated for summer.

Albuquerque, NM (PRUnderground) March 10th, 2014

Development of an “Innovation District” in Downtown Albuquerque is in the works with purchase of the 7-acre, 7.2 million Innovate Albuquerque site estimated to be finalized as soon as this summer.

The site, which is located at Central Avenue and Broadway Boulevard and anchored by the First Baptist Church, is backed by funds from UNM, the City of Albuquerque, U.S. Economic Development Administration, and the New Mexico Educators Federal Credit Union, among other parties.

If all goes well, that purchase will usher in an era of business incubator research and growth known as Innovate ABQ, with the site itself seeing the construction of an incubator building and dorm, among other structures.

Innovate ABQ’s public argument has been that it will lead not just to job creation, but will also spur business growth. A glimpse of how that might work is being seen with the decision by Stuart Rose, the founder of the BioScience Center, to open an incubator and collaborative working space in the old Albuquerque High School, across the street from the planned Innovate ABQ site.

That decision, says Luuttila, underlines Innovate ABQ’s basic premise: “It’s not just about that site. It’s about an innovation district that we want to see happen where Innovate ABQ is seeming to catalyze other activities around that site.”

(505) 272-7905For more information on Innovate Albuquerque’s progress, contact Elizabeth Kuuttila at (505) 272-7905 or kuuttila@stc.unm.edu. Read the full article here.

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