Sandoval County using new fund to attract, grow businesses
ALGODONES, N.M. (AP) — A New Mexico manufacturer has been awarded a $50,000 grant from an economic development fund established by Sandoval County.
The Albuquerque Journal reports that Geobrugg North America LLC will add 7,000 square feet to its current 16,000-square-foot facility in Algodones where it makes high-strength steel wire netting for safety applications.
The company plans to install new machines to add lower-strength netting to its product line and that’s expected to result in seven more jobs. The company currently has 30 employees.
The grant will help offset the $500,000 cost for expansion. It comes from a new $3 million fund the county created to help recruit, retain and expand businesses.
County Commissioner Don Chapman says it’s the first investment to date from the fund and more projects are in the works.
Information from: Albuquerque Journal, http://www.abqjournal.com