Tuesday, March 14, 2023
Courtesy abqjournal.com, Matthew Narvaiz, Journal Staff Writer
(ALBUQUERQUE, N.M.) – Arcosa chooses New Mexico for new wind-tower production facility.
Belen will get a big economic boost with the expansion of a wind-tower manufacturer into the area, one that will add roughly 250 jobs. Texas-based Arcosa Inc. announced Tuesday its subsidiary, Arcosa Wind Towers, will open a wind-tower production facility in Belen with production to begin as soon as next year.
The company’s expansion into New Mexico is aided by $4 million in Local Economic Development Act money from the state, which will be disbursed as the company meets economic development benchmarks.
“We look forward to expanding our manufacturing capacity to New Mexico, where market demand for new wind projects is robust,” Antonio Carrillo, president and CEO of Arcosa Inc., said in a statement. “Our new facility will strengthen our position in the wind-tower market and enable Arcosa to benefit from growing wind investment in the Southwest. We are pleased to create new jobs in the State of New Mexico, which has been a supportive partner and a strong proponent of wind-energy development.”
The announcement of the new facility comes as the company has received $750 million in tower orders, many of which are for projects in the southwest. Deliveries of those orders are expected to begin in 2024 and go through 2028, the company said.
Arcosa, a publicly traded company, plans to invest $55 million to $60 million in the expansion, which includes the purchase and modification of an existing facility in the Rio Grande Industrial Park and the procurement of needed equipment.
Gov. Michelle Lujan Grisham has long identified sustainable energy as an industry ripe for further growth – an area which she believes can attract higher-paying jobs for New Mexicans.
In 2021, New Jersey-based WTEC Energy Corp., with state assistance, announced it would bring more than 300 jobs to New Mexico with its expansion into Chamberino. The company manufactures wire cable designed to power solar projects and wind turbines. WTEC also announced plans to use its Chamberino facility to eventually produce wind towers.
“The transition to clean energy brings with it more diversified, higher-paying and skilled jobs,” the governor said. “Arcosa is repurposing an old factory for new investments in our state and our communities – this is a win-win.”
Additionally, the New Mexico Economic Development Department said Arcosa can qualify for Job Training Incentive Program funds. The city of Belen is also planning on assisting the expansion through industrial revenue bonds, or IRBs.
Once Arcosa expands into Belen, payroll is expected to hit $12.5 million annually. The company’s expansion, according to the state, will have an overall economic impact of $314 million over the next decade.
Belen Mayor Robert Noblin expressed his excitement for the Arcosa expansion, saying the “anticipated creation of 250 jobs is vital to our local workforce and economy.”
Additional Information not included in original story but courtesy of AREA:
“AREA is, as always, so pleased to be a partner in projects like this one, working in tandem with great leaders and economic developers from the state to the community level, as well as our committed utilities. Thanks to our close alignment with local brokerages like CBRE, we were able to begin to offer data and research assistance to the company and its various representatives last September, and look forward to continuing to support their ramp up needs in the region going forward,” added Danielle Casey, President & CEO of AREA.
“We have been very privileged to have had many companies seriously consider this particular building for their operations, and we are even more fortunate that Arcosa has chosen to formally select and announce it as its future expansion location in New Mexico,” commented Grant Taylor, Director of Business Development for AREA.