ALBUQUERQUE, N.M. — Google Inc. will repay the state nearly $1 million in economic assistance funds – the full amount the computer giant owes after pulling subsidiary Titan Aerospace out of Moriarty, New Mexico Economic Development Secretary Jon Barela said Monday.
Google announced last week that Titan Aerospace was leaving its facilities at the Moriarty airport, where it has been developing a solar-powered drone.
The state’s investment had included $995,000 for infrastructure improvements at the Titan site, and Google has agreed to repay that amount under clawback provisions, Barela said. Those improvements, including water- and sewer-line extensions, are there for future use as officials seek another tenant.
“Therefore, the New Mexico taxpayers are actually ahead on this project,” Barela said.