July 30, 2020

Economic Impact Assessment Metropolitan Redevelopment Agency

The Mid-Region Council of Governments (MRCOG) utilized their REMI model to calculate the economic impact of redevelopment and economic revitalization projects conducted by the City of Albuquerque Metropolitan Redevelopment Agency (MRA) over the last 20 years. The REMI model was able to analyze the total investment in the MRA and determine how employment, gross regional product, wage and salary disbursements, personal income, and personal consumption were affected in Albuquerque over two decades. MRCOG’s analysis found that during the course of MRA’s tenure in the city over the study period, Albuquerque’s economy grew by approximately $10 billion and the estimated cumulative impacts of their projects was around $444.4 million, or 4% of the growth of the city’s economy. This report also evaluated the MRA’s neighborhood economic impact, their various redevelopment locations, and how their projects have impacted Albuquerque’s access to transit options.

Mid-Region Council of Governments – Economic Impact Assessment Metropolitan Redevelopment Agency [full PDF]