SolAero Technologies Relocates Manufacturing To Albuquerque, New Mexico
In the first phase of their project, SolAero will invest $10 million to overhaul 40,000 feet of their existing Albuquerque facility to create a vertically integrated solar panel manufacturing facility. This expansion will support One Web Satellites, a joint venture between the world's second-largest space company, Airbus Defence and Space, and One Web, to bring satellite internet to every corner of the globe.
According to state officials, company cited the Governor's economic reforms as a top reason for choosing New Mexico for their expansion.
"Thanks to the business-minded reforms under Governor Martinez, we're able to expand and create new jobs right here in New Mexico," said Dr. Brad Clevenger, CEO of SolAero. "Without powerful incentives like LEDA and JTIP, and a multitude of strong tax incentives, an expansion of this scale would not be possible."
"This is great news for New Mexico and another example of what's possible when businesses know they're welcome in New Mexico," said Governor Susana Martinez. "New Mexico has become the place to do business because of our bold reforms and business friendly attitude over the last six years, and we have to continue building on that success.”
As an incentive, New Mexico Economic Development Department has awarded SolAero with $182,090, through the Job Training Incentive Program (JTIP), to support employee training for the expansion.
SolAero was the first tenant of the Sandia Science & Technology Transfer as Emcore Photovoltaics, in 1997. A successful technology transfer startup from Sandia National Labs, Emcore later became SolAero Technologies through an acquisition. SolAero is now moving manufacturing operations in California to their headquarters in Albuquerque.
"By once again utilizing the City's LEDA funds to support a local company, we are reaffirming our commitment to supporting businesses to start, grow and flourish in Albuquerque," said Mayor Richard J. Berry.
"What started as a small start-up executing on Sandia National Labs technology is now supplying all of the hi-efficiency satellite solar panels for a pioneering internet solution that aims to open up data and access to people in cities to rural countryside including New Mexico's Native American lands. This is a great home-grown success story that we can all be proud of,” he added.
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