Turnkey Ventures Establishes Roswell, New Mexico, Operations
The new manufacturing facility will be located on 45 acres at 42 W. Earl Cummings Loop at the Roswell Air Center.
“We are excited to be expanding modular construction into New Mexico in partnership with Biltwise Structures,” Turnkey Ventures CEO David Lawver said. “We are appreciative of the City of Roswell as well of the State of New Mexico for their support. We look forward to being a part of the Roswell community, bringing in new jobs, and pushing the advancements of residential construction forward.”
To support the project the New Mexico Economic Development Department has provisionally awarded economic assistance to the company. In addition, the City of Roswell is considering a proposed sale of city-owned property for the project. The 45 acres at 42 W. Earl Cummings Loop at the Roswell Air Center is the former home of Millennium Transit Services and has been vacant for over a decade.
“This new business is a good fit for the City of Roswell – it can bring affordable housing, new jobs, and redevelopment to a long-vacant building,” EDD Acting Cabinet Secretary Mark Roper noted. “If this investment moves forward, the EDD has pledged up to $400,000 in LEDA assistance to help Turnkey Ventures open its Roswell manufacturing facility. We stand as a ready partner.”
The State’s commitment from the Local Economic Development Act job-creation fund to Turnkey is pending a formal application and financial review as well as a Project Participation Agreement between Roswell and Turnkey. The assistance will be paid out incrementally as the company meets hiring and economic development benchmarks.
“We are extremely excited for Turnkey Ventures and their decision to locate in Roswell, New Mexico,” Michael Espiritu, president and CEO of Roswell-Chaves County Economic Development Corporation, added. “Their acquisition of a shuttered bus plant, vacant for over 15 years, and their projection for the creation of numerous jobs and millions of dollars in capital investment will continue to propel our community forward. The strong collaboration between the EDC and city leadership significantly contributed to this project. We look forward to supporting the company as they move forward in their new home here.”
Austin, Texas-based Turnkey Ventures is a real estate company with expertise in acquisitions, development, and private equity.
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