The Albuquerque Journal reports that City Council approved a
proposal Monday to set up a new account that will provide money for marketing
the city, keeping the businesses already here, supporting workforce training
and chipping in to close a deal.
The money to establish the account comes from
penalties paid by companies that received city incentives but didn't live up to
their end of the contract.
The proposal sets up an economic development council
that will recommend ways to spend the money.
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