Albuquerque Business News - Local Albuquerque News | Albuquerque Business First


    New mobile app will prepare Albuquerque teens to join workforce
    The city of Albuquerque and Mission: Graduate, a United Way initiative, unveiled a new app Tuesday meant to help teens build the job skills and competencies they will need in the workplace. The app, Launch Me ABQ, awards students "digital badges" for completing activities that develop skills like communication, professionalism and financial literacy. "It's a way for young people to learn what employers are looking for in the workforce in a familiar format," said Angelo Gonzales, executive director?


    Airbnb could hit $30B valuation in new funding round
    Airbnb Inc. is reportedly raising new funding at a $30 billion valuation, tripling what it is thought to be worth by private investors in the past two years. The New York Times cited unnamed sources who said the San Francisco home-sharing business is raising new funds but didn't say how much. But it would be in addition to the $1 billion debt facility Bloomberg reported it had secured earlier this month. Airbnb has raised about $2.4 billion since emerging from Mountain View accelerator Y Combinator?


    5 things you need to know today, and Uber's unique international play
    It's part of an international push to become a one-stop shop for travelers. Here's that and five more things to know for your Wednesday. How NM stacks up on VC deals All day, Albuquerque was buzzing about the news ABF reporter Joe Cardillo broke Tuesday morning: fast-growing local biotech IntelliCyt was snapped up in a $90 million cash deal. Cardillo followed up with a look at how New Mexico stacks up for venture capital deals with neighboring states. Hint: it's far from the highest on VC deals,?


    ABQ's newest airline adds a third route
    Allegiant's new Albuquerque service just lifted off, and it's already announcing a new destination. The Las Vegas, Nevada-based airline began flying from the Albuquerque International Sunport direct to Austin, Texas and Vegas on June 2. Now, it's set to debut direct service from Albuquerque to Los Angeles International Airport (LAX) Oct. 6, with introductory fares as low as $35. Based on a search of the carrier's website for flight dates, it appears the flights will operate twice weekly, on Sundays?


    New Mexico has highest unemployment rate in U.S. for this industry
    Despite plenty of commercial construction projects across Albuquerque and new homes and neighborhoods being built, New Mexico's construction unemployment rate is the worst in the U.S. According to the U.S. Bureau of Labor Statistics, New Mexico's construction unemployment rate was 8.9 percent in May. Our state is ranked 50th, and falls behind Rhode Island, Alabama, Pennsylvania and Illinois. The state with the lowest construction unemployment rate was Idaho at 1.9 percent. The national average?


    Los Alamos' new co-working space debuts (Slideshow)
    At projectY, local entrepreneurs and innovators are going back to Los Alamos' World War II roots. ProjectY, a new co-working space in the small town, opened June 8. The project takes its name from the original code name of the Manhattan Project, the top-secret government initiative to build the atomic bomb, which was based in Los Alamos during World War II. "We thought it was a nice homage to the history of the town and the innovation that occurred here," said Patrick Sullivan, executive director?


    NM Restaurant Association: ART construction will hurt restaurants
    The New Mexico Restaurant Association, a powerful business advocacy group, is throwing its weight behind a group fighting Albuquerque Rapid Transit (ART). The organization says at the request of its members, it is supporting the Coalition of Concerned Citizens: MakeARTSmart, a group that filed a lawsuit against the Federal Transit Authority and the city over ART. Construction on ART, the bus rapid transit system on Central Avenue between Tramway and Unser boulevards, is expected to break ground?


    ABQ BioPark chief executive named
    After a months-long search, a chief executive for the ABQ BioPark has been named. James T. Allen, who has more than 29 years of experience in public works, beat out a pool of 21 candidates, according to the city. "JT Allen has an incredible civil engineering background to go along with 'big project' management and construction oversight experience," said Mayor Richard Berry in a statement. "I am quite excited to have a person of his caliber join our team and take on such an important role in guiding?


    Fast-growing ABQ biotech startup acquired for $90 million in cash
    A technology that?s been around for a while just got a big boost, and an Albuquerque-based company that pioneered it is now on the board as one of the biggest tech exits in recent years. Sartorius, a Germany-based international pharmaceutical and laboratory equipment provider that had 1.1 billion euros in sales last year, announced in a press release that it acquired Albuquerque?s IntelliCyt Corp. for $90 million in cash. IntelliCyt's founder, president, and CEO R. Terry Dunlay described the?


    Wells Fargo to offer instant payments to mobile customers
    Wells Fargo & Co. became the fourth U.S. bank to offer real-time person-to-person transactions to its mobile banking customers. Beginning Aug. 1, San Francisco-based Wells (NYSE: WFC) will allow its customers to send funds in real-time at no cost to any customer of a bank that participates in the real-time service, which operates on Early Warning?s clearXchange network. Wells Fargo said customers will be able to access real-time P2P payments first through Wells Fargo?s mobile and tablet apps.?