Albuquerque Business News - Local Albuquerque News | Albuquerque Business First
Phoenix-area spending by Super Bowl fans expected to top $200 million
Super Bowl XLIX may not bring as much direct spending as the last time Arizona hosted the big game in 2008, according to a new report, but it should be nothing to sneeze at. Visiting fans and business will spend $206 million in Phoenix area for Super Bowl XLIX, according to the report from PriceWaterhouse Coopers LLP. That firm's Sports and Tourism Sector Director Adam Jones says the spending is the second highest among Super Bowls behind only last year's big game in New York. But counting for?
Startup biz with NM ties adds analytic tool to D.C. politics
The sons of two longtime New Mexico legislators are part of group of young entrepreneurs who have launched a new analytical service designed to provide data about congressional legislation and news emanating from Washington, D.C., according to a report in the Santa Fe New Mexican. Alex Wirth, son of state Sen. Peter Wirth, D-Santa Fe, and Joshua Hone, son of former U.S. Rep. Heather Wilson, are part of the team behind Quorum Analytics, an online legislative strategy service that combs through hundreds?
Santa Fe boutique hotel featured on Travel Channel
A small boutique hotel in Santa Fe is getting its moment of fame on the new reality show "Hotel Showdown" on the Travel Channel, according to a report in the Santa Fe New Mexican. The 16-room Luxx Hotel, hidden behind a Marcy Street coffee shop near City Hall and the Main Library, will be featured on the show tonight. The Luxx is owned by mother-son team Brenda Snyder and Gordon Schaeffer. The show highlights the challenges of owning a small hotel in tourism-focused Santa Fe, where there are around?
Mayor, unions reach thaw, near contract
Mayor Richard Berry and unions that represent city workers are reaching a thaw in relations and nearing a new contract after five contentious years, according to a report in the the Albuquerque Journal. Members of Albuquerque unions that represent about one-third of city workers ratified contracts that would provide a 2.86 percent raise. The tentative agreements still require City Council approval, union leaders said. The Berry administration and the union had battled over taxpayer-funded union?
New beer festival coming to Bernalillo
Out with wine, in with beer. Bernalillo officials announced Monday that a new beer festival will take the place of the New Mexico Wine Festival, which wrapped up a 27-year run last year. The Great Southwest Brew Fest at Bernalillo will is scheduled for Labor Day weekend, Sept. 5 and 6, in Loretto Park in Bernalillo, It's a partnership between the town and the New Mexico Brewers Guild. The new festival will feature 25 craft breweries from New Mexico and a dozen other breweries from the Southwest.?
Legal pot sales top $2.7 billion nationwide
Legalized marijuana is the fastest-growing industry in the country with 74 percent market growth from 2013 to 2014, according to a report released Monday. ArcView Market Research has published its third State of Legal Marijuana Markets report, showing that the industry reached $2.7 billion in total sales nationwide last year, up from $1.5 billion in 2013. The report also predicts the marijuana market will continue to grow in the coming years, driven by the trend of more states legalizing marijuana,?
Governor, too, wants $2 million JTIP increase
The New Mexico House and Senate have come together and are pushing a new bipartisan way to support increasing job training funds. On Monday, Speaker of the House Don Tripp said that he's backing a new $12 million proposal. On Monday, too, Gov. Susana Martinez, said she is also supporting the bipartisan measure that was recommended by the State Jobs Council. "JTIP is a proven job creator and is an important part of our work to grow and diversify New Mexico's economy," Martinez told Business First?
Albuquerque?s Silverado Apartments sold to Phoenix firm
The 256-unit Silverado Apartments in Albuquerque's Northeast Heights has been sold to a Phoenix-based private equity real estate investment firm. The price of the transaction wasn't disclosed, but the 184,000-square-foot development had previously been listed at $20.5 million. Clear Sky Capital Inc. of Phoenix purchased the property, located at 5741 Osuna Road NE. The seller was San Francisco's First Pacific Group ? a real estate investment and management firm. The local broker involved in the?
Secretary Jewell: SunZia line unleashes 'stranded' NM energy
The announcement that the SunZia Transmission Project received approval from the federal government is not only a milestone for that project, but also a precedent others hope to follow. SunZia is one of three transmission lines planned in New Mexico. The others are the Clean Line, which is a DC line stretching west to Arizona, and the Tres Amigas project, which would connect the Western Grid to Texas and the Eastern Grid. All three projects aim to exploit New Mexico's renewable-energy potential,?
Exclusive: NM House Speaker says reserves a last resort for funding priorities
One week into the 2015 legislative session, the new Speaker of the House, Don Tripp, says he's optimistic there will be money to fund the state's priorities ? despite falling oil prices. From creating a $50 million closing fund to fully funding the Job Training Incentive Program, Tripp told Business First on Monday that he expects the state's revenues to cover Governor Susana Martinez's spending priorities, including higher teacher wages and $180 million in road projects. Tripp became Speaker?