Albuquerque Job Market Continues to Lose

Albuquerque Job Market Continues to Lose

 

In the Albuquerque job market, there continues to be signs that businesses are still not improving. Though we have seen significant improvements in some fields and the addition of jobs in some industries seems to be happening, the overall market cannot improve if new jobs are not created at a faster rate than companies are cutting them. Recent news this week indicates the market here is still losing out.

It was announced this week that Sony Pictures Imageworks is closing down its presence in the downtown Albuquerque area by July of this year. The company's lease is set to expire at that time. The facility provides about 60 workers with jobs, plus numerous additional, supportive positions.

There is not a set reason for the cutting and the move for the company. Sony has not come out to state why the move is happening. The spokesperson for the company, Don Levy, refused to provide any comment about the closure. The company did note that those who work at the facility will be offered jobs in Canada or in the Los Angeles area. There is no word on if those individuals will decide to take the jobs.

According to Nick Maniatis, who is the director in charge of the New Mexico Film Office, the move is not something unexpected. He stated, "From what I understand, it came down to an economics decision. We offered the company 25 percent film incentives, while Vancouver is going to offer them 46 percent. It just makes sense for them." He continues stating, "We just couldn't compete with the offer that Vancouver was giving them. We tried to offer different things to them but just couldn't keep them."

The agency in the New Mexico office is currently working on the postproduction of various films. This includes movies such as "The Smurfs”,"Green Lantern" and "Cloudy with a Chance of Meatballs."