Ideum, a technology manufacturing company, opened its new fabrication studio, a 5,500 square foot facility that will allow the company to expand production and creating new jobs, in Corrales, New Mexico.
According to state officials, the new facility will grow Ideum’s footprint, allowing them to serve more customers across the globe.
Ideum’s new exhibit fabrication studio features state-of-the-art tools such as new CNC machines, a plasma cutter and mill, along with a variety of woodworking tools. Ideum custom designs and manufactures interactive multi-touch tables and walls using cutting-edge sensing and projection technology. Their products help to create interactive experiences for museums, educational institutions, government agencies, and Fortune 500 companies.
"For years, we’ve worked relentlessly to make New Mexico a great place to do business and we’re seeing the results," said Governor Susana Martinez. "When we cut taxes, slash through red tape and strengthen our powerful economic development tools, our homegrown technology companies, like Ideum, succeed and grow in New Mexico.”
"Ideum is a true economic development success story and I am thrilled to celebrate their continued growth," said Economic Development Cabinet Secretary Matt Geisel. "After years of hard work to create a business-friendly environment, homegrown companies are choosing to stay and are thriving in New Mexico."
Over the last decade, Ideum has used New Mexico’s economic development toolbox to accelerate their growth. In 2016, the New Mexico Economic Development Department provided $75,000 for the expansion through the state’s closing fund, LEDA, a tool that helps recruit new businesses to our state while helping those that are already here grow and thrive. Ideum has also received $685,912 million from the Job Training Incentive Program, JTIP, to help create 48 jobs.
During their current expansion, they will utilize JTIP to create up to 12 new jobs. Additionally, the company has also used the High Wage Jobs and Research & Development Tax Credits to expand their business.