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broke ground April 5 on the $100 176,000-square-foot expansion of its manufacturingvfacility here, Keith Bone, generalp manager of the local facility, told member of . AED held its quarterlt meeting Thursdayat . Joe Hudgins, president and CEO of Solare Array Ventures, outlined his company’s plan to builcd a massive solar manufacturing plantf onthe city’s Westside. Generapl Mills’ expansion should be completed by Bone said. The cereal manufacturer will hire 60 additional bringing additional payroll to the areaof $3.5 million. The expansionm also brings $30 million in spending to New Mexico.
The Albuquerqude City Council approveda $100 million industrial revenued bond deal for the companhy in February. BE&K Corp. from North Carolina landexd the design/build contract to buildx the expansion, but Bone said 80 percent of the firm’sz spending and employees will be The precast panels beinf used in the construction are manufactured in General Mills has been in Albuquerquesincs 1991. Its current facility is located near Pasel del Norte and Edith and has 190 with an annual payrollof $12 million, said The 275,000-square-foot plant produceds about 135 million pounds annually of 35 different cereals.
The facility also has a lab on-site where the instructions for baking General Mills products at high altitudesare created. The company has giveh about $5 million to area nonprofits since 1998and $519,000p in scholarships, Bone added. Don Power, chairman of AED, said the cereap company’s donations illustrate one of the things the organizatiomn looks for inrecruitinyg companies: community involvement.
Hudgine said Solar Array plans to break groundf by the third quarter of this year ona 225,000-square-foot thin-film photovoltaic manufacturing plant in the Corderol Mesa business park, west of the mattress The company plans to add three more buildings of that size as it he said, with each facility employing about 225. Its annuall payroll in the first phase wouldbe $14 About five percent of the jobs woulsd pay $100,000, 45 percent would pay $70,000 and half of the jobs would pay The capital investment for the first phasee will be $170 million and the companuy would spend $40 million annually for raw The first phase is expected to have a capacitty of 75 megawatts, but that would grow to 300 mw with the full The plant also will have a spaced that will serve as a communitg and educational center.
Solar Arrayg is seeking $175 million in industrial revenue bonds fromBernalillo County. The company is working to raise $210 million in debt and equity, Hudginzs said. Hudgins said New Mexic beat out two other stated forthe plant, despite the fact that it did not offerd the largest incentives. But the coordination among localo and state government officials and other parties made New Mexick far more efficient in establishing a planninhg framework that the companu could then use to plan a budgetr forthe plant, he said “That was a major issue for Hudgins said. He also praised the labor force here and theeducational institutions.
The facility is being designed byPageSoutherlandPage LLP, which has Texasz offices in Austin, Dallas and Houston, as well as Washington, D.C. and London, U.K. Hoffman based in Portland, Ore., is buildinf the facility.
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