Wednesday, August 15, 2012
The Bernalillo County Commission has taken action on four separate economic development efforts that could bring about 680 jobs to the region, including industrial revenue bonds for Tres Amigas and Admiral Beverage Corp.
The combination of industrial revenue bonds and Local Economic Development Act grants will help facilitate new warehouse construction, expansion of a customer contact center, a new corporate headquarters and a skilled nursing unit.
“Bernalillo County is leading the way on job creation and we’re working hard every day to improve economic opportunities in central New Mexico,” Commission Chair Art De La Cruz says. “Our commitment to jobs is having a positive impact on the economy.”
“Tonight’s actions prove that Bernalillo County is delivering real results on jobs and improving the quality of life in our community,” Commission Vice Chair Maggie Hart Stebbins says.
The Board of Commissioners this evening voted to support the following projects:
· $10 million in industrial revenue bonds for Lowe's Home Centers, Inc. Lowe’s is considering expanding its existing customer contact center in Northeast Albuquerque. Lowe’s would lease an existing building as part of the expansion, which would create 300 new jobs over time.
Taxpayers would not finance the bonds. Private investors would acquire the bonds to facilitate the expansion.
The commission also gave initial approval to a $75,000 Local Economic Development Act grant for Lowe’s this evening. Both matters will face a second, final vote at a September commission meeting.
· A $20 million industrial revenue bond incentive for Tres Amigas, LLC, to establish a headquarters in Bernalillo County.
Tres Amigas seeks to build a new superstation to connect the nation’s three electrical grids near Clovis. The headquarters in Bernalillo County is projected to create 35 new permanent jobs and 40 construction jobs.
Separately, the project in Clovis would create hundreds of jobs.
Taxpayers would not finance the bonds. The bonds will be acquired by private investors to establish the headquarters by remodeling an existing facility.
· A $30 million industrial revenue bond for Admiral Beverage Corp.
Admiral Beverage, which distributes beer and various non-alcoholic beverages in New Mexico, intends to build a 219,000 square foot distribution warehouseand offices at the corner of Rio Bravo Boulevard and Prince Street S.E. that will create an estimated 55 construction jobs and 20 new permanent jobs.
The commercial construction project is one of the biggest in the metro area in many years. Taxpayers will not finance the bonds. The bonds will be acquired by private investors in order for Admiral to purchase land, build and equip the new facility.
· A $1.5 million Local Economic Development Act grant to Las Estancias, LLC, which intends to build a healthcare and retail commercial development near Coors and Rio Bravo Boulevards. The grant would be used for infrastructure like roadway and drainage improvements. This project is expected to create 230 new jobs within the county over several years, including many in healthcare.
Bernalillo County’s commitment to job creation has led to recent success. Including today’s action, the county has supported projects that would create 1,450 permanent and construction jobs among a variety of projects.
Other recent projects include the initial Lowe’s customer contact center and a new facility for Friedman Recycling.
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