Albuquerque Business News - Local Albuquerque News | Albuquerque Business First
Who will buy 53,000-square-foot former Eclipse Aviation building?
A large, high-profile industrial-manufacturing complex in southeast Albuquerque has seen renewed attention lately. The 53,000-square-foot building at 2810 Karsten Ct. SE is one that was custom built in 2006 by a group of investors for Eclipse Aviation and had been used as an assembly area for the company's Eclipse 500. Eclipse filed for Chapter 11 bankruptcy in 2008, went through a series of changes, and although it is currently manufacturing, the building has not been used. The sale listing has?
A successful new Colorado business model: B&B, or 'bud and breakfast'
Denver's Adagio Bed and Breakfast is being acquired by the company that's been operating it as a "bud and breakfast" for nearly a year. The MaryJaneGroup Inc. (OTCBB: MJMJ), which has tried various pot-related ventures since starting early last year, has had the most success with the B&B, at 1430 Race St. in Denver. MaryJaneGroup, also based in Denver, will pay $1.5 million for the property. The company said $1 million will be financed by the B&B's current owners. The purchase is expected to close?
Arizona considers new $30M film industry incentive plan
The Arizona Legislature is considering a bill that would ramp up the state's incentives for the film industry, according to a report at KRQE. Production companies in Arizona say they are tired of seeing movies that are supposed to be set in Arizona being shot in other states ? like New Mexico. Film companies "usually come in here for a few days, take some background shots ? cactus, Grand Canyon ? and then they shoot films in other states," said John Stewart with the Arizona Film and Media?
Senate passes bill that would end safety net fund for small NM hospitals
A bill that would end the obligation of New Mexico counties to contribute to a fund that helps keep New Mexico's smaller hospitals financially viable has passed the Senate on a 40-0 vote, according to a report in the Albuquerque Journal. Senate Bill 117, sponsored by Sen. Nancy Rodriguez (D-Santa Fe), would remove at the end of 2018 the requirement that counties to contribute to the Safety Net Care Pool. It will now be considered by the House. The Safety Net Pool helps 29 primarily rural hospitals?
Santa Fe No. 1 in U.S. for women-owned businesses
A new study pegs Santa Fe as the top city in the country for women-owned businesses, according to a report in the Santa Fe New Mexican. The study by consumer website NerdWallet looked at 289 communities across the U.S. and found that Santa Fe has a female-owned business rate of over 33.7 percent, most in the nation. NerdWallet lists Washington, D.C., with a percentage of 33.2 percent, as having the second-highest concentration of women-owned businesses in the U.S. Other communities with a high?
New Albuquerque taproom tour stars Nob Hill breweries
If you haven't noticed the explosion of breweries and taprooms in the Albuquerque area lately, Nick Peņa has. It's an emerging part of his company ? Food Tour New Mexico? which is launching its first Walking Albuquerque Taproom Tour in early April. Peņa has been organizing the tour and patterning it after similar successful runs in Santa Fe. The 32-year-old entrepreneur and native New Mexican operates one of the state's only such businesses ? food and drink tours that come with an educational?
SolarCity announces operations in NM
Elon Musk's other company is coming to New Mexico. SolarCity will begin taking orders in New Mexico for its solar products starting Wednesday. The company uses a mix of long-term financing that works like a power-purchase agreement for homeowners. Elon Musk, the CEO of Tesla Motors and SpaceX, is the chairman of SolarCity's board. SolarCity announced Wednesday that it will open a local solar operations center in Albuquerque this month, and it initially expects to hire 30 to 50 local employees in?
National company to build $4.5 million event center
A Utah company has bought a vacant lot on the West Side and plans to build a $4.5 million event center on the site, according to a report in the Albuquerque Journal. Construction is scheduled to begin begin next month near Paseo del Norte and Eagle Ranch NW on a 9,000-square-foot building designed to accommodate events such as weddings and business seminars. Noah's has 15 similar facilities in larger markets around the country, such as Denver, Dallas, Orlando and Chicago. "We just went (to Albuquerque)?
Why NM financial institutions aren't rushing to offer women scented credit cards
Scented credit cards are unlikely to come to a credit union or bank near New Mexico any time soon. The Al Hilal Bank in the United Arab Emirates recently released a credit card that not only comes with boxed perfume, but also has the ability to absorb the scent in hopes of attracting a greater female customer base. Some women in New Mexico's financial industry found the move insulting and "impractical." "We're a little bit different, we're a community development financial institute. Our niche?
TriLumina's $8.5M latest in string of recent fundings for NM companies
Of New Mexico's reported startup fundings in the last year, TriLumina's $8.5 million series A round ranks third in size. The company on Monday announced the completion of its series A round, in which Boston's Stage 1 Ventures, as well as Cottonwood Technology Fund and Sun Mountain Capital of Santa Fe participated. Though $8.5 million is a lot of money for a startup, Dion's Pizza closed on $10 million last year for an expansion, and SambaSafety closed on a $16.4 million round. After those three,?