Titan Aerospace, a start-up manufacturer of solar-powered unmanned aerial vehicles, which located in Moriarty, New Mexico, last March, recently received a New Mexico Economic Development Job Training Incentive Program grant of $141,390.
The firm developed a unique solar-powered High Altitude Long Endurance UAV called the SOLARA 40, capable of persistent operation for up to five years. Titan Aerospace is developing its UAVs to augment the satellite industry with serviceable and easily upgradable "atmospheric satellites," at a fraction of the cost of traditional low-earth-orbit and geosynchronous platforms, New Mexico Economic Development officials said.
The decision to locate Titan Aerospace in Moriarty, and create job growth, was based on its need to have air space for the launch of its solar powered vehicle. NMEDC added the company researched additional sites in the U.S., and determined the proximity to a large population center, as well as the research facilities with higher education and national laboratories, gave Moriarty a better position than the alternate locations. The company was recently approved to receive JTIP funding for the hiring of seven high-wage positions.
“Encouraging manufacturing based business is important for the state’s economy. Last year New Mexico’s manufacturing sector experienced a 1.6 percent increase in growth,” said Economic Development Secretary Jon Barela. “JTIP is a wonderful program to provide companies an incentive to not only do business here but to also hire New Mexicans.”