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Building an Economy that Works for Everyone · Albuquerque United States Albuquerque is behind the...
Transcript of Building an Economy that Works for Everyone · Albuquerque United States Albuquerque is behind the...
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Building an Economy that
Works for Everyone
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-11.4%
-10.3%
-2%
4%5%
-11%-10%
-7%
6%
17%
10th Percentile 20th Percentile 50th Percentile 80th Percentile 90th Percentile
Real earned income growth for full-time workers, 1979-2014
Albuquerque United States
Albuquerque is behind the rest of the United
States in income growth for everyone.
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The share of
middle-class
households
has declined
since 1979.
Households by income level, 1979-2014
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Working poverty is on the rise in Albuquerque, with many
full-times workers not earning enough to make ends meet.
Share of working adults ages 25-64 that work full-time and
live below 200% of the poverty level by race and gender, 2015
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$17.30$19.20
$21.40
$29.10
$11.60
$15.30$17.00
$19.70
$25.00
$11.60$14.90
$16.90$18.50
$24.70
Less than a HSDiploma
HS Diploma noCollege
Some College, noDegree
AA Degree, no BA BA Degree or higher
Median hourly wage by educational attainment and race/ethnicity, 2017
White
Latino
People of Color
Education alone does not
solve the wage gap problem.
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$18.70
$20.40
$32.70
$15.50
$18.70
$26.00
$13.10
$16.80
$19.40
$27.40
$13.30
$15.80
$22.20
Less than aHS Diploma
HS Diplomano College
More thanHS Diploma,Less than BA
BA Degreeor higher
Median hourly wage by educational attainment, race and gender
Women of color
Men of color
White women
White men
Women of color are being left the farthest behind.
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Our strategy must
focus on small business
and businesses owned
by women and people
of color.
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SMALL BUSINESS EMPLOYED
336,684 61,000PEOPLE IN ALBUQUERQUE IN 2014
60% of the private workforce
PEOPLE OF COLOR OWN
BUSINESSES IN ALBUQUERQUE
40% of small businesses
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OUR STRATEGY
Smart RecruitmentBuy Local
Creative EconomyInternational Business
Increment of One
Placemaking
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• Increase access to capital
• Use existing economic development tools to grow
local businesses
• Continue work with navigators that help
businesses scale up
• Establish an Outreach and Advocacy Office for
businesses owned by women and people of color
• Collaborative planning for skills-based hiring
INCREMENT
OF ONE
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• Reduce Red Tape
• Require City Departments to seek a local vendor
• Proactively send opportunities to local businesses
• Vendor registration in every community center and
library
• Contract-by-contract review for local opportunities
BUY LOCAL
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Buy Local
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WHAT DOES THE CITY BUY?
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SMART
RECRUITMENT,
RETENTION, &
EXPANSION
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Leverage core assets
Place based strategies
High growth specialties
Positive ROI
Economic base jobs
Homegrown companies
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• Trade Services
• FDI Soft Landing Program
• Target Mexican Tourism
• Transportation Hub
INTERNATIONAL
BUSINESS
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Foreign Direct Investment Soft Landing Program for SMES
Host Foreign SMEs
A La Carte Menu
1-3 Day Agenda
1-3 Business
Matches
Follow-up
Leverage Network
Promote Program
Advertise
Video Seminars
Gov Partnerships
Mayor Tour
Promotional Events
Identify target markets
Israel
Singapore
Taiwan
Germany
Japan
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The Film Office serves to promote and attract
the entertainment industry to Albuquerque
Maximize state tax
incentives to generate
investment in the City to
create local jobs, attract
new businesses.
Increase access to
resources for
Albuquerque's
artists, makers and
creative businesses
Permit all
productions and
recruit film, television
and digital media
Work proactively with
residents, business owners
and governmental agencies to
ensure a creative, safe, and
beneficial industry for our City.
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CREATIVE
ECONOMY• Establish direct flights to better serve film industry
• Establish and publish film guidelines and a code of conduct
• Create a “movie wall” at the Albuquerque Sunport
highlighting and promoting local locations and tourism
• Help build the cultural economy downtown
• Create education and advancement opportunities for our
local film community
• Creative economy
+ FILM
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PLACEMAKING
• The measure of any great city is the degree to which people and places are connected.
• Rail Yards redevelopment• Tingley Beach-El Vado-BioPark corridor, and • multiuse development at Unser and Central• Bricklight Nights and the new Civic Plaza.
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LOCAL
BUSINESS
LARGE
EMPLOYERSPARTNERS
What can you
buy locally to
grow our
economy from
within?
What would it
take to grow
your business
by 1, 5, or 20
employees?
Can you join us
in the efforts to
create quality
jobs and build
our economy?
HOW CAN YOU HELP?
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BUILDING AN ECONOMY THAT
WORKS FOR EVERYONE, TOGETHER