Bernalillo County

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Commissioners Approve Industrial Revenue Bonds for Local Company

03/09/2021
6:50 PM

Bernalillo County – Bernalillo County commissioners have approved up to $22 million in taxable industrial revenue bonds (IRBs) for American Gypsum Company in the northern part of the county.

The company will use the industrial revenue bonds to make improvements and modernize its plant near Jefferson and Paso del Norte.

The Dallas-based company produces some 430 million square feet of wallboard annually using premium quality gypsum.
 
“Bernalillo County always works diligently to attract new business, but it’s just as important to back existing companies,” says Commissioner Debbie O’Malley.  “American Gypsum has been a part of the county skyline for more than 35 years and it’s time for an upgrade.”

Industrial revenue bonds can be taxed or untaxed to be used for improvements and expansion within the county.  Industrial revenue bonds are not funded or repaid with taxpayer money.

The IRBs were approved by commissioners on a 5 to 0 vote.

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About Bernalillo County
Bernalillo County is 1,160 square miles and is New Mexico’s most populous county with more than 674,000 residents. Bernalillo County government provides a wide range of public services to residents who live in Albuquerque, Los Ranchos and Tijeras and the 111,000 residents who live outside the village and city limits in the unincorporated areas of the county.  Bernalillo County employs approximately 2,500 people and has an annual operating budget and capital investments of more than $500 million. Elected officials include five county commissioners, assessor, clerk, probate judge, sheriff and treasurer.

 

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