New Mexico Incentives Aid Company Expansions in Santa Fe and Los Alamos
Both companies are successfully commercializing technology developed at Los Alamos National Laboratory. Descartes Labs will create 50 new jobs with the expansion of their headquarters in Santa Fe and UbiQD will create 20 new jobs with the expansion of their headquarters and manufacturing facility in Los Alamos.
"The City and State have been great partners as we grow our company in New Mexico and expand our footprint across the world," said Mark Johnson, CEO of Descartes Labs. "The incredible New Mexico lifestyle, favorable business environment and powerful incentives like LEDA and JTIP make New Mexico the best place for us to locate our business."
"Thanks to the close proximity of premiere research institutions, high quality of living, and potent state business incentives, New Mexico is a prime location for technology startups like ours," said Hunter McDaniel, CEO of UbiQD. "The support of the State and County have been crucial in accelerating product development and expanding our operations."
New Mexico will provide $500,000 to Descartes Labs and $125,000 to UbiQD for the expansions through the state's closing fund, known as LEDA. LEDA is New Mexico's closing fund, which helps recruit new businesses to our state while helping those that are already here grow and thrive.
In addition to the LEDA funding from the State of New Mexico, the City of Santa Fe will commit $100,000 in LEDA funding to Descartes Labs and Los Alamos County has provided $325,000 in LEDA funding to UbiQD.
"It's incredible to see how our powerful business incentives are working in concert with our national labs to create high-tech jobs in our state," said Secretary Geisel. "We're going to continue fighting for the tools and reforms that are helping us create a healthier economy and so companies like these can thrive and lift our communities up."
Both companies have also utilized the Job Training Incentive Program to expand their workforce. The New Mexico Economic Development Department has previously awarded Descartes Labs with $297,757, through JTIP to support employee training for 10 jobs and $202,594 to UbiQD to support employee training for 11 jobs.
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