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City Council declares intent to issue $6M in IRBs for TaskUs

ALBUQUERQUE, N.M. — Albuquerque city councilors on Monday took their next step to bring TaskUs to Downtown, declaring the city’s intent to issue a $6 million industrial revenue bond package to support the company’s proposed expansion that will add nearly 700 jobs to the city’s economy.

The industrial revenue bond package, which would function as a property tax break, is part of an incentive package previously approved by councilors for TaskUs that includes $2 million from the state’s Local Economic Development Act fund and $1 million from the city’s closing fund.

“We feel that the company is going to be a valuable part of our community, especially since they’re bringing 700 jobs into the Downtown Galleria,” Council President Ken Sanchez said. “It’s been a ghost town for so long. We’re going to see some vibrancy return to the Downtown community.”

The company plans to lease about 50,500 square feet of office space in the First Plaza Building at Third and Tijeras NW and invest $9 million in the new Downtown location.

The office will feature a market, lounge and recreation areas and a subsidized gym for employees. The company plans to open in the first quarter of 2019.

Tier 1 customer service specialists make $26,000 to $34,000 annually, plus incentive pay and benefits. More than 220 of the positions will pay between $34,000 to $40,000 plus bonuses and benefits.

Councilors will consider the actual bond ordinance at a future meeting.

In other action during Monday’s meeting, councilors voted to defer bills that would comply with a new state election law, as well as a proposed public financing city charter amendment bill, until their next regular meeting on Nov. 5.

Councilors will meet in a special session on Thursday to consider an economic incentive package for Netflix to assist in its proposed purchase and operation of Albuquerque Studios.