The value of new commercial construction and revenue received from the Lodgers’ Tax remained strong and grew into 2008. Local per capita income compared favorably with national and regional benchmarks when measured in 2007. Albuquerque residents considered this Desired Community Condition important and perceived substantial progress at the time of the 2007 survey.

INDICATORS

• 38.1 Value of New Commercial Building Permits
• 38.2 Lodgers’ Tax Revenue
• 38.3 Per Capita Income

  LOCAL TREND:

Commercial construction, a key indicator of economic vitality, increased into 2008. Lodgers’ Tax revenue also increased at an approximate annual rate of 8.4% from fiscal years 2006 to 2008. Albuquerque’s per capita income increased in 5 of the last 8 years, reaching a total growth between 1999 and 2007 of 34.4%. It is likely these indicators will experience downturns when the effects of the general economic recession of FY/09 are felt in Albuquerque.

  NATIONAL/REGIONAL COMPARISON:

For the eight-year period 2000-2007, the Albuquerque Metropolitan Statistical Area’s per capita income has grown 34.4%, faster than the national rate of growth of 33.2%. Of six similar metropolitan statistical areas in the region, El Paso, Oklahoma City, and Salt Lake City have better rates of per capita income growth. Three other MSAs, Tucson, Austin, and Colorado Springs, showed less growth over the eight-year period. Rises in unemployment resulting from the recession of 2008-2009 will likely result in declines in per capita personal incomes and income growth.

  CITIZEN PERCEPTION:

In a 2007 survey, Albuquerque citizens were generally positive about the local economy’s strength and sustainability. They considered it important and perceived substantial progress. This perception closely matched the data from the three indicators at the time of the survey, but before the national economy experienced a recession in 2008.

Opportunity to Celebrate	LOCAL TREND IS:	Positive
	ALBUQUERQUE, COMPARED TO OTHERS, IS:	Beter
	CITIZEN PERCEPTION COMPARED TO DATA:	Matches

NOTE: For help in understanding this page, see Creating a Community Report Card.