Artico Cold Management will invest $30 million to locate the first in its chain of specialized refrigerated warehouses at Innovation and Industrial Park in Las Cruces, New Mexico. The project is expected to create 60 jobs.
The facility will take 12-18 months to complete with an expected opening in September 2023. The company chose Southern New Mexico and Las Cruces because of its robust agricultural economy, proximity to Mexico and the international border, and the state's business climate, including the workforce and incentives, according to state officials.
“Cold storage is in short supply across the United States, and we see the need in New Mexico for more capacity, there are significant opportunities to help producers of chiles, dairy, pecans, meats, vegetables,” siad Richard Taveras Artico’s CEO. “This is an attractive opportunity, and the LEDA investment is critical – the State and City support gets this moving and helps us get over the finish line.”
The company has been awarded $600,000 from the Local Economic Development Act (LEDA) to help with its 120,000-square-foot, thirty-million-dollar cold storage facility at the Las Cruces Innovation and Industrial Park. The City of Las Cruces is also pledging $281,400 in economic assistance.
In addition to the LEDA support from the State of New Mexico and the City of Las Cruces, $100,000 from the El Paso Electric New Mexico Economic Development fund has been pledged to support the project. The fund, which is administered by the Mesilla Valley Economic Development Alliance (MVEDA) and the Community Foundation of Southern New Mexico, was established by El Paso Electric in connection with the corporate sale of the Utility to Infrastructure Investments Fund (IIF).
“New Mexico’s small producers don’t have the resources to build or maintain cold-storage or processing operations,” Cabinet Secretary Alicia Keyes said. “We need this infrastructure in the state to sustain a robust agricultural economy so we can grow and process more food closer to home.”
Artico Cold Management was formed in 2021 and is planning several projects across the United States, with future plans to expand into Mexico and Latin America. It specializes in the management of temperature-controlled warehouses to help agricultural producers, food manufacturers, distributors, and retailers fortify the supply chain. The company is seeing the need for more cold storage, as consumers demand more fresh and healthy foods, and the newly formed company is working to develop several storage facilities to meet increasing demand.
“Artico is not only making a significant capital investment in new facilities in the Las Cruces Innovation & Industrial Park, but the operation itself will also serve as supporting infrastructure to our rich agricultural region and will also assist in attracting future value added agricultural interests,” added Davin Lopez, President & CEO of MVEDA, said.