PESCO Expands Main Manufacturing Complex in San Juan County, New Mexico
“We are proud to be a thriving manufacturing company here in the great state of New Mexico, and we very much appreciate the incredible support we have received from our state leaders and agencies including Governor Martinez, Secretary Geisel and the staff at the Economic Development Department,” said PESCO President & CEO Kyle Rhodes.
“PESCO has become a leader in process equipment in the Western United States and is able to compete head to head with large companies from Denver to Houston. The quality of our workforce, which is 70% Native American, is exceptional including our outstanding engineers and our fabricators that are second to none,” Rhodes added. “We put out some of the best engineered and highest quality units in the industry, and our customers know it. Our future is bright, as we look to expand, partnering with BayoTech, another New Mexico company, to bring technology developed in our state in innovative products to the chemical and agricultural industries worldwide.”
As an incentive, the expansion is being supported by New Mexico's closing fund, LEDA. New Mexico will invest up to $2.35 million in Local Economic Development Act (LEDA) funds in the expansion. San Juan County will act as the fiscal agent for the LEDA award.
“I’m so proud to see another world-class homegrown manufacturing leader expand in New Mexico,” said Governor Susana Martinez. “Since 2011, we have worked hard to make New Mexico a great place to for our homegrown companies to thrive and create jobs in our communities - today, we’re seeing those efforts pay off.”
According to the Governor’s Office, PESCO’s expansion will enable the company to build new reactor units for BayoTech, a homegrown New Mexico start-up, for the chemical and agriculture industries. The new units will diversify PESCO’s operations, add new jobs, and contribute to New Mexico’s innovation economy.
“PESCO’s manufacturing expertise allows BayoTech to focus on developing our core technology and expanding our market,” said BayoTech CEO Justin Eisenach. “This allows for profitable sales growth and greater economic activity centering around skilled manufacturing job creation, economic diversification and acceleration of New Mexico’s innovation ecosystem.”
BayoTech, the world's first modular, scalable, and rapidly deployable platform for production of hydrogen and nitrogen fertilizer used by agricultural and industrial markets, spun out of Sandia National Labs; it is the first homegrown startup to receive funding from the Catalyst Fund, which was established by Governor Susana Martinez in 2017. The Catalyst Fund is a $40 million partnership between the State Investment Council and private-sector investors with the goal of investing in early-stage technology companies.
“PESCO is a homegrown success story and an industry leader and I’m thrilled to see their continued growth and success,” said Economic Development Secretary Matt Geisel. “By expanding their manufacturing facility and creating more well-paying jobs, PESCO is expanding their impact on the local economy and helping New Mexicans find good jobs.”
“San Juan County is extremely excited to be partnering with PESCO on this expansion,” said San Juan County Commission Chair, Margaret McDaniel. “The LEDA funds will not only expand their facility, but also create excellent economic-based manufacturing jobs here in the county. A real win-win. As a homegrown, hometown company, we know how much PESCO cares about our community. We congratulate PESCO on new growth and wish future success for many years to come.”
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