Multimillion dollar manufacturing facility coming to Santa Teresa
SANTA TERESA, New Mexico (KVIA) - A new manufacturing plant is set to open in Santa Teresa, New Mexico that will bring hundreds of new jobs and an economic boost to the area.
GreenPower Motor Company Inc., the Santa Teresa Foreign Trade Zone, and the State of New Mexico announced their agreement to build an electric heavy-duty vehicle plant.
It is supposed to create 340 jobs with an estimated $200 million impact for New Mexico.
“We are excited about yesterday’s announcement of an agreement with the state of New Mexico for the establishment of GreenPower’s new manufacturing facility in Santa Teresa, New Mexico,” said Fraiser Atkinson, CEO for GreenPower. “The Company looks forward to working closely with local stakeholders, government leaders and financial partners to create new jobs, drive economic development and accelerate the transition to zero-emission transportation in New Mexico and beyond. Being part of a larger ecosystem in the electrification of transportation for the region will ensure a successful and economically strong manufacturing presence in the state.”
The State of New Mexico is committing about $14.6 million in incentives to establish the new facility. LEDA, or New Mexico Local Economic Development Act, is providing $5 million. The program helps provide support to businesses that create jobs and bring economic growth to the area. The agreement includes $4.6 million in job training incentive funds (JTIP), $1.36 million in Rural Jobs Tax Credit (RJTC), and $3.65 million from the New Mexico High-wage Jobs Tax Credit program.
