ALBUQUERQUE, N.M. (KRQE) – A New Mexico enterprise recognized for its inexperienced chile is getting one other serving to hand in the case of their enlargement. The Metropolis of Albuquerque is voting to approve bond funds to assist Bueno Meals with a brand new manufacturing facility. Bueno Meals is already house to 110,000 sq. foot manufacturing facility. It plans to develop much more with an funding of $10 million into building of a 25,000 sq. foot freezer warehouse with work properly underway.
In an effort to make the enlargement potential, the corporate is asking the Metropolis of Albuquerque for tax exempt industrial income bonds to fund the venture. In response to the Metropolis of Albuquerque, Bueno Meals would pay yearly curiosity on the bond again to the town. Again within the spring, the state even have Bueno Meals a LEDA grant for $500,000 to assist fund the enlargement.
“This enlargement will add greater than $106 million in financial impression,” State Financial Deputy Secretary Jon Clark mentioned on the time. “Over and above the great financial impression that Bueno Meals already gives to our neighborhood and has for many years.
The enlargement is a hefty funding for the native inexperienced chile producer and won’t solely improve distribution efforts, however can even provide 49 new jobs over a six-year interval. The venture can even add about 80 to 100 building jobs this 12 months. Metropolis council will vote on issuing the bond tomorrow afternoon.