CITY of ALBUQUERQUE
TWENTIETH COUNCIL
COUNCIL BILL NO.
R-12-117 ENACTMENT NO. ________________________
SPONSORED BY: Dan Lewis, Trudy E. Jones and Rey Garduño, by request
RESOLUTION
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Establishing The Economic Development Action Account (EDAct Account); Establishing The Economic Development Action Council; And Appropriating Funds For Economic Development (Lewis, Jones, Garduño, by request)
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ESTABLISHING THE ECONOMIC DEVELOPMENT ACTION ACCOUNT (EDAct Account); ESTABLISHING THE ECONOMIC DEVELOPMENT ACTION COUNCIL; AND APPROPRIATING FUNDS FOR ECONOMIC DEVELOPMENT.
WHEREAS, the national economic recession has had a serious effect on the economy of Central New Mexico and the Albuquerque metropolitan area, with the loss of more than 28,000 jobs in the past four years; and
WHEREAS, potential Federal budget cuts could have a significant negative effect on New Mexico and the Albuquerque region, with the potential loss of numerous Federal jobs as well as substantial Federal contract funding; and
WHEREAS, the competition for quality job creation projects is very intense on both the national and international levels; and
WHEREAS, the City recognizes that economic base companies, which export the majority of their goods or services out of the region or state (thereby bringing additional money into the community), provide the economic foundation for the entire area economy; and that the viability of all other businesses in the community, small and large, depends on the success and growth of economic base companies, through new locations and relocations of such companies into the Albuquerque region, expansions of existing companies, and new start-ups; and
WHEREAS, the lack of resources at the regional and state level over recent years has made it difficult to effectively market the area and compete for economic development projects; and
WHEREAS, the City recognizes that the retention and expansion of existing area economic base compani...
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