A wholesale supplier of bicycles and bicycle parts, Bicycle Technologies International, began construction on the company's new office and warehouse building in Santa Fe, New Mexico's, Rancho Viejo La Entrada Commercial Complex.
With the expansion the company, which employs approximately 50 workers, expects to hire up to 50 new employees over the next five years, New Mexico Gov. Susana Martinez's office said.
"By creating a better business environment in New Mexico, companies like BTI are better able to grow and succeed here at home," said Gov. Martinez. "We must continue our work to make our state a better place to do business so more companies will make the choice to start or re-locate here, contribute to our economy, and hire New Mexico workers. I applaud BTI for choosing to stay in New Mexico, create well-paying jobs and take the risk that so many entrepreneurs do by investing their time, energy and capital into expanding their company."
BTI's President and co-founder Andrew Wright stated, "We truly appreciate the level of support and teamwork we've received from the State of New Mexico, Santa Fe County, and the City of Santa Fe. Without the forward thinking programs and action of our municipal Economic Development teams, this project would have continued to stall or even fail. This financial and developmental support has allowed BTI to stay in New Mexico and reenergize our growth and job creation potential."
As an incentive New Mexico Economic Development assisted BTI with its resources such as the Job Training Incentive Program, which promoted the hiring and training of employees. Based on job growth expectations, BTI has also received $350,000 in Capital Outlay funding that will assist in the construction of its new 47,500 square foot facility, which will include a 15,000 square-foot building based on green sustainable principles.