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broke ground April 5 on the $100 million, 176,000-square-foot expansion of its manufacturingbfacility here, Keith Bone, general manager of the local facility, told members of . AED held its quarterlu meeting Thursdayat . Joe Hudgins, president and CEO of Solar Arrat Ventures, outlined his company’sw plan to build a massiver solar manufacturing plant onthe city’s Westside. General expansion should be completedby November, Bone The cereal manufacturer will hire 60 additiona employees, bringing additional payroll to the area of $3.5 million. The expansiobn also brings $30 million in spendin g to New Mexico.
The Albuquerque City Council approveda $100 million industriapl revenue bond deal for the company in February. BE&K Corp. from North Carolina landesd the design/build contract to build the but Bone said 80 percent ofthe firm’s spending and employeeds will be local. The precast panelsw being used in the construction are manufacturedin Belen. General Milla has been in Albuquerquesince 1991. Its current facility is located near Paseok del Norte and Edith and has 190 with an annual payrolof $12 million, said Bone. The 275,000-square-fooft plant produces about 135 millionm pounds annually of 35different cereals.
The facilityt also has a lab on-site wherd the instructions for baking Generakl Mills products at high altitudesaare created. The company has given about $5 millionj to area nonprofits since 1998and $519,000 in Bone added. Don Power, chairman of AED, said the cerealp company’s donations illustrate one of the thingzs the organization looks for inrecruiting companies: communith involvement. Hudgins said Solar Array plans to breakj ground by the third quarte r of this year ona 225,000-square-foot thin-film photovoltaic manufacturing plant in the Corderoi Mesa business park, west of the mattres factory.
The company plans to add threse more buildings of that size as it he said, with each facility employiny about 225. Its annual payroll in the firsyt phase wouldbe $14 About five percent of the jobs woulds pay $100,000, 45 percent woulxd pay $70,000 and half of the jobs wouldc pay $45,000. The capital investment for the first phaswe willbe $170 million and the company woulsd spend $40 million annuallt for raw materials. The firsft phase is expected to have a capacity of 75 but that would grow to 300 mw with the full The plant also will have a spacw that will serve as a community andeducationao center. Solar Array is seeking $175 milliojn in industrial revenue bondd fromBernalillo County.
The company is working to raisee $210 million in debt and equity, Hudgins Hudgins said New Mexico beat out two otheer states for the despite the fact that it did not offerr thelargest incentives. But the coordination amongy local and state government officials and othere parties made New Mexico far more efficieng in establishing a planning framework that the company couled then use to plan a budget for the hesaid “That was a major issud for us,” Hudgins said. He also praised the laboer force here and the educational The facility is beingb designed byPageSoutherlandPage LLP, which has Texas offices in Dallas and Houston, as well as Denver, Washington, D.C. and U.K.
Hoffman Construction, based in Ore., is building the facility.
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