Albuquerque Regional Economic Alliance Achieves Premier Status as an Accredited Economic Development Organization
Albuquerque Regional Economic Alliance Achieves Premier Status as an Accredited Economic Development ... Yahoo Finance
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AREA Recognized as an Accredited Economic Development Organization (AEDO)
Albuquerque, NM, March 21, 2024 (GLOBE NEWSWIRE) — The Albuquerque Regional Economic Alliance (AREA) has achieved international recognition as one of only 79 economic development organizations in the world accredited by the International Economic Development Council (IEDC) as an Accredited Economic Development Organization (AEDO).
Professionalism, Commitment, and Technical Expertise
The IEDC President and CEO Nathan Ohle stated, “AREA displays the professionalism, commitment, and technical expertise that is deserving of this honor.”
A Comprehensive Peer Review Process
The AEDO program is a comprehensive peer review process that measures economic development organizations against commonly held standards in the profession. It recognizes the professional excellence of economic development organizations (EDOs). The program consists of two phases: a documentation review and an onsite visit. Each phase evaluates information about the structure, organization, funding, programs, and staff of the candidate economic development organization.
Don Tarry, AREA’s Board Chair and President and Chief Operating Officer for PNM Resources, commented, “The materials required to even be considered for accreditation are significant. Before the completion of our AREA 1.0 Strategic Plan, we would not have had all the documents required to do this. I want to commend and thank the AREA board leadership that pushed forward in the creation and adoption of that critical foundational document.”
Achieving Excellence and Continuous Improvement
Accreditation is not easy to achieve and includes a deep dive review on organizational practices, structures, and outcomes in comparison to national best practices. Receiving this status demonstrates unequivocally that AREA is a top-tier organization. It also includes recommendations for continuous improvement as part of the process.
Tracy Hartzler, President of Central New Mexico Community College, commented, “Leading an organization where national accreditation is critical, I know that this was a huge undertaking for AREA. This recognition validates the exceptional level of economic development service we have here in our region and confirms what we already know – AREA is best in class.”
Trust and Excellence
Earning the AEDO accreditation demonstrates to the local community, prospects, and decision makers that AREA has attained a measure of excellence, assuring them that their trust is well-placed and their business is in good hands. Maintenance of the AEDO status is required every three years and is accomplished through documentation submission and/or onsite visits by a team of the AEDO subcommittee.
Danielle Casey, President and CEO of AREA, commented, “I am so tremendously proud of the AREA team that worked for months to compile the materials required for this peer review process and site visit, and the many board members, investors, and partners who participated in meetings and discussions with the review team during their site visit.”
Contact Information
CONTACT: Danielle Casey Albuquerque Regional Economic Alliance 505-705-3785 dcasey@abq.org
SDGs, Targets, and Indicators Analysis
1. Which SDGs are addressed or connected to the issues highlighted in the article?
- SDG 8: Decent Work and Economic Growth
The article discusses the recognition of the Albuquerque Regional Economic Alliance (AREA) as an Accredited Economic Development Organization (AEDO). This achievement is related to economic development and growth, which aligns with SDG 8.
2. What specific targets under those SDGs can be identified based on the article’s content?
- Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 percent gross domestic product growth per annum in the least developed countries.
- Target 8.2: Achieve higher levels of economic productivity through diversification, technological upgrading, and innovation.
- Target 8.3: Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity, and innovation.
The recognition of AREA as an AEDO indicates their professionalism, commitment, and technical expertise in economic development. This achievement reflects progress towards the targets mentioned above.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
- Indicator 8.1.1: Annual growth rate of real GDP per capita
- Indicator 8.2.1: Annual growth rate of real GDP per employed person
- Indicator 8.3.1: Proportion of informal employment in non-agriculture employment, by sex
The article does not explicitly mention these indicators. However, the recognition of AREA as an AEDO implies that they have demonstrated excellence in economic development practices, which can be indirectly linked to the mentioned indicators.
SDGs, Targets, and Indicators Table
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 8: Decent Work and Economic Growth | Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 percent gross domestic product growth per annum in the least developed countries. | Indicator 8.1.1: Annual growth rate of real GDP per capita |
| Target 8.2: Achieve higher levels of economic productivity through diversification, technological upgrading, and innovation. | Indicator 8.2.1: Annual growth rate of real GDP per employed person | |
| Target 8.3: Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity, and innovation. | Indicator 8.3.1: Proportion of informal employment in non-agriculture employment, by sex |
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Source: finance.yahoo.com
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