The Albuquerque Development Commission has approved the awarding of $36 million in industrial revenue bonds to enhance an existing structure on the southeast side of the city.
That structure, located at 3801 University Boulevard, is the Albuquerque ground zero for Nypro Healthcare Baja, Incorporated, a company based in Carson City, Nevada that manufactures a wide array of medical and surgical devices.
The facility project is also receiving $250,000 in Local Economic Development Act support, with the State of New Mexico planning to kick in another $750,000 in LEDA funding.
Final funding approval for the awarding of the industrial revenue bonds will most likely be made next month by the Albuquerque City Council.
Nypro is owned by another company called Nypro, Inc., which, in turn, is owned by the St. Petersburg-based Jabil Incorporated. That company’s offerings include computing hardware, telecommunications equipment, and electronics geared especially for the aerospace, automotive energy, and medical sectors.
Jabil currently enjoys more than $22 billion in annual revenue.
According to city documents, Nypro is planning to invest up to $36 million in additional equipment for its medical device manufacturing operations, with $3.6 million specifically targeting building improvements and renovations at the University Boulevard property.
Expansion of the 233,000 square foot Albuquerque facility will be in keeping with Jabil’s larger goal of growing its healthcare division.
Specific structural work at the facility will include air handling unit upgrades, floor replacement, fire protection improvements, and a new deionized water system.
By Garry Boulard
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