The city of Albuquerque would help pay Eclipse Aerospace’s rent at the Sunport as the company adds 100 high-paying manufacturing, engineering and administrative jobs over the next two years, under a tentative deal announced this morning.
The city and state would offer up to $635,000. It would come in increments for each 10 new jobs added by Eclipse.
The proposal still must be submitted to the City Council for approval.
“The fact that they’re growing in Albuquerque is fantastic,” Mayor Richard Berry said this morning as he stood before an Eclipse 550 jet.
Other communities have tried to recruit the company. Gov. Susana Martinez said she’s proud Eclipse is staying in New Mexico.
Eclipse CEO Mason Holland said the company delivered its first Eclipse 550 jet to a customer yesterday.
“We’ve turned the corner,” he said.
Deirdre Firth, Albuquerque’s deputy director of economic development, said Eclipse plans to add 100 jobs by the end of 2015. For every 10 jobs added, the company would get help on one month’s rent, she said.
City and state funds would pay 60 percent of Eclipse’s rent at the Sunport. The deal would top out at $635,000 if Eclipse reaches its full jobs target.
The city’s share of the money comes from its newly created economic-development action fund, which holds money from the clawbacks received when Schott Solar closed down.
“It’s a great way to use those funds,” Firth said.
Customers can buy an Eclipse 550 jet for $2.895 million.
The joint city-state news release is posted below.
ALBUQUERQUE— In an exciting new economic development collaboration, the City of Albuquerque and State of New Mexico announced a partnership with Eclipse Aerospace to retain and expand one of Albuquerque’s most promising and innovative companies. This partnership is expected to result in at least 100 new manufacturing jobs over the next two years bringing the total number of employees at Eclipse Aerospace to 275.
Officials have signed a preliminary agreement with Eclipse Aerospace for facility support at the Albuquerque International Sunport. Eclipse Aerospace would receive up to $635,222 in Local Economic Development Act (LEDA) funds from the State and the City. The state will contribute $397,014 and the City will contribute $238,208 toward facility costs at the Sunport. The State and City support will allow Eclipse to spend their resources to create jobs.
“I am delighted by Eclipse’s continuing commitment to New Mexico, shown by these 100 new well-paying aerospace jobs, and I congratulate Eclipse for their continued success,” said Governor Susana Martinez. “We’re doing everything we can to improve the business climate in the state. I look forward to continuing to create an environment where companies like Eclipse can grow and create the jobs our families and communities need to succeed.”
Mayor Richard Berry was an early supporter of this effort, bringing the City’s Aviation and Economic Development Departments together in dialog with Eclipse Aerospace to preserve and grow their operations. “This makes so much sense for our city and state,” he said. “Eclipse Aerospace is here, doing well, an active contributor to our economy and tax base. They have successfully operated in Albuquerque for the last four years, preserving jobs and generating revenue from their start up. The company’s revitalization has not gone unnoticed, with communities from across Europe and the United States vying to lure them away from Albuquerque, and to move their operations/manufacturing to other markets.”
Eclipse Aerospace CEO Mason Holland confirmed the company’s growth. “We are proud of our contributions to the aviation industry and the continued production of the Eclipse 550 twin engine Jet. The world’s most cost effective light jet! The city of Albuquerque and the state of New Mexico is part of what makes us who we are, we appreciate the partnership.”
“Because of New Mexico’s many unique assets, our department has targeted the aviation and manufacturing industries as an area for growth through state policies and incentives,” said Economic Development Secretary Jon Barela. “Eclipse is the kind of company we want to have in New Mexico and we look forward to its continued success.”
About Eclipse Aerospace: Eclipse Aerospace, Inc. is the manufacturer of the Eclipse 550 twin-engine jet, the most fuel-efficient jet in the world. Eclipse also provides engineering, maintenance, service, and support for the fleet of 260 Eclipse 500 Twin-Engine Jet aircraft. Adhering to the motto “Customer First,” Eclipse Aerospace is focused on providing a superior customer experience for existing and future owners, operators, and pilots of the revolutionary Eclipse Jet aircraft. Eclipse Aerospace corporate offices are based in Charleston, S.C. Principle operations are located in Albuquerque, N.M. and Chicago, Ill. Eclipse Aerospace is located on the web at www.ECLIPSE.aero
Mayor Berry announced at the Albuquerque Sunport Friday that Eclipse Aerospace plans to add 100 high-paying jobs.
Berry said the state and the city will be contributing about $635,000 to help Eclipse stay at the Albuquerque Sunport. Berry described the arrangement as “rent abatement.”
Gov. Susana Martinez said during the announcement at the Sunport that she’s proud of Eclipse for creating jobs in Albuquerque and New Mexico.