An Albuquerque company that provides cloud storage, security, and networking services to clients across the country, is making plans to renovate a 40,000 square foot building for its new headquarters.
Founded in 1994, Advanced Network Management was listed last year by the publication Inc. as one of its 5,000 fastest-growing companies. In 2016, it was named as a Flying 40 fastest-growing company by the Albuquerque Journal with revenues of more than $10 million.
The company currently operates out of a 12,000 square-foot facility space at 2288 Columbine Avenue.
The new site, located about 4 miles to the south, near Osuna Road NE, in a neighborhood of mostly newer one-story retail and industrial facilities, will allow the company, said chief executive officer Raminder Mann in a statement to “deliver on our commitment to our New Mexico community of hiring local talent and increasing investment in training and workforce development.”
The company will spend nearly $6 million to purchase the structure itself, on top of up to $800,000 to renovate the new location.
To help fund the project, Advanced Network Management is receiving $750,000 in Local Economic Development Act funds through the New Mexico Economic Development Department, with $250,000 coming from the City of Albuquerque.
That $250,000 is expected to be approved by members of the Albuquerque City Council later this month.
Local Economic Development Act funds are geared, in part, for companies that are planning to expand in New Mexico. In moving to a new location, Advanced Network Management is expected to hire 40 more people in the coming months.
By Garry Boulard