An ABQ Year in Review

With 2014 right around the corner, it’s time for a year in review! 2013 was a big year for Albuquerque in terms of publicity, economic development, entertainment and more. Whether it’s a new movie or TV show being filmed, a new space facility, or a host of other new business openings, there always seemed to be something exciting going on.

Albuquerque Business First has dug into its web traffic to find the most important local stories from this past year and will poll local experts for their predictions for the city in 2014. But here are some of the most notable stories as chosen by Albuquerque Business First:

NMHIX gets off to a healthy start 

Why it’s important: New Mexico’s health insurance exchange for small businesses and their employees got up and running with few problems. 

 It took New Mexico a while to decide whether to run its own health insurance exchange, but once the decision was made, things moved quickly. 

 ‘Breaking Bad’ bill could lure more TV shows 

Why it’s important: The film industry was worried long-term TV show projects would bail on New Mexico without state support. First, Gov. Susana Martinez vetoed the so-called “Breaking Bad” bill. Then she signed off on its provisions as part of an 11th-hour tax reform package. 

 For the New Mexico film industry, a new set of incentives that increased rebates for television productions in the state was the most important piece of legislation proposed in the last five years. Filming recently wrapped in New Mexico on two television shows, “Breaking Bad” and “In Plain Sight,” that employed hundreds. The new incentives were designed to entice more long-term television productions to the state.
  

“The film industry has been a consistent bright spot for Albuquerque’s economy and the amount of interest is growing as seen by this uptick in activity,” said Mayor Richard J. Berry.
  

Major tax package aims to change game 

Why it’s important: The Legislature passed the first major tax package in a decade.
  

At the 11th hour — some say even later — the Legislature passed the New Mexico Jobs Package at the close of the 2013 session. It was the largest piece of tax reform passed in the state in years. The bill reduced taxes on businesses, added a single sales factor tax policy, included a “combined reporting” provision, amended the high-wage tax credit, phased out the “hold harmless” provision for local governments and included film incentives. 

 It didn’t make everyone happy. But both sides of the aisle seemed to find something in the package that they liked.  

To read the full list of top local stories from 2013, click here.