It is no surprise to even the most casual of local observers that Albuquerque’s economy faces major challenges. With voters now heading to the polls to vote on yet another mandate on local businesses, it is worth noting that the City’s economy is among the weakest in the nation.
As the following chart from the Brookings Institute notes, Albuquerque ranks an abysmal 97th out of 100 cities in overall growth in their 2017 rankings. The question for those going to vote in this election is: with an overwhelming majority of businesses opposed to the mandatory paid sick leave regulations, will Albuquerque EVER be able to recover economically? Or will the exodus of productive people and businesses only accelerate?
2 Replies to “Albuquerque’s economy is doing so poorly….so let’s add more regulations!”
If sick leave passes…. accelerate! Not to mention, new business formation will probably collapse. Interestingly, this mandate is now law in Arizona, which surprises me. How did that happen?
Based on the pre-election polling, the will of the electorate appears to be solidly anti-business and is likely to result in a progressive mayor and punitive sick-leave ordinance.
This is an an opportunity for Rio Rancho to replace Albuquerque as the economic center of the state, especially if Sandoval County passes a right-to-work law. Rio Rancho’s better schools and lower crime rate puts it in a better position to attract out-of-state business.