Albuquerque is the 32nd-largest city in the U.S. according to the US Census Bureau and the 53rd-largest U.S. metropolitan area. The metro has grown by 0.5 percent over the last five years to host 907,255 citizens. Over the next five years, population of the metro will increase by 1.2 percent with Corrales and Rio Rancho expected to have the largest percentage of population growth.
Albuquerque is home to the University of New Mexico, but its economic activity relies partially on the government and defense sectors, which are increasing payrolls in the metro. The largest employer of the region is Kirtland Air Force Base, with approximately 35,700 civilians and nearly 5,000 military workers. Additionally, Sandia National Laboratories, Honeywell Defense & Space Electronic Systems and Northrop Grumman provide a substantial amount of residents’ vocational opportunities in the region.
Manufacturing is another significant economic driver in the metro. Employers such as Intel Corporation, SCHOTT Solar, Thomas & Betts, General Mills, and TemperPedic provide substantial employment opportunities to the local community.
The newest trend to emerge in the region is the number of companies capitalizing on the need for UAS (Unmanned Aircraft Systems), or drones. The White Sands Missile Range south of the metro offers the perfect climate to test multiple aerospace initiatives.