Minority Business Development

Albuquerque, NM (KKOB) –The City of Albuquerque has been awarded a $1.875 million grant from the U.S. Department of Commerce Minority Business Development Agency to support the New Mexico MBDA Business Center, which is located in Albuquerque and operated through the City’s Economic Development Department.
Funding will assist center operations integral to the establishment and growth of minority-owned businesses.
The City will receive $375,000 annually over a five-year period, ending June 30th, 2026, as long as satisfactory performance is met and congressional appropriations are made.
The Albuquerque City Council gave formal approval of the funding Monday.