A move to upgrade and modernize an existing building in southeast Albuquerque for a growing and diversified business owned by a Florida-based corporation is receiving some $36 million in economic incentives.
Earlier this summer, Nypro Healthcare Baja, based in Carson City, Nevada, announced plans to enhance a structure located at 3801 University Boulevard.
The company, a subsidiary of the St. Petersburg, Florida-based Jabil Incorporated, manufactures everything from telecommunications equipment, computing hardware, and electronics specifically geared for the aerospace, energy, and medical sectors.
The building on University Boulevard will be used to expand Nypro’s 3-D printing technology, an effort that Albuquerque Mayor Tim Keller, in a statement, said would help to strengthen the city’s “foothold in key technologies and builds on our assets as a technology hub.”
Winning the support last month of the Albuquerque Development Commission, the project has now been approved for $36 million in industrial revenue bonds, along with another $250,000 in Local Economic Development Act funds for the building project.
Nypro expects to invest up to $3.6 million of its own money in renovating and improving the University Boulevard structure.
By the requirements of the ordinance authorizing the bonds, Nypro will hire up to 120 employees, while also agreeing to operate the University Boulevard facility for a minimum of ten years.
By Garry Boulard
Get stories like these right to your inbox.