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Two businesses get state grants to build plants in New Mexico

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(The Center Square) – Two more companies will receive state economic assistance for manufacturing job creation, the New Mexico Economic Development Department announced this week.

The Borderplex in Santa Teresa will see Coast Aluminum and Monti Inc. bring jobs to New Mexico.

“Investing in New Mexico’s international border to improve infrastructure and expand global trade has been a priority for Gov. Michelle Lujan Grisham as the state continues to diversify the economy,” a release said. “New Mexico is seen as a strategic location for businesses looking to fortify global supply chains and locate manufacturing closer to North American customers.”

This year, Lujan Grisham has traveled to Taiwan and Australia to meet with business leaders interested in manufacturing goods in New Mexico.

“The latest expansions to New Mexico are domestic companies who see the Borderplex as a strategic location for manufacturing,” Lujan Grisham said. “My administration’s investments in this region are paying dividends with new jobs and sustainable growth as we create a manufacturing center of excellence in Southern New Mexico.”

Coast Aluminum, Inc. is building a 73,500-square-foot distribution center in the Santa Teresa Binational Industrial Park. The company distributes custom and in-stock aluminum materials, plus stainless steel, copper, brass and architectural metal products.

“We chose to locate our newest facility in the Santa Teresa industrial base due to its close proximity to our existing customer base in the region and because of the great assistance from the New Mexico Partnership and the State of New Mexico,” Tom Clark, president of Coast Aluminum, said.

EDD will provide $350,000 from the State of New Mexico Local Economic Development Act job-creation fund to back the $10 million expansion. The expansion will create 37 jobs.

Additionally, Monti Inc., “a US-based leader in industrial component manufacturing and fabrication,” got $350,000 in LEDA assistance.

The Cincinnati-based company will invest $14 million in New Mexico. Monti is renovating an 80,000-square-foot site at 2690 Airport Rd., Santa Teresa which will employ 36 people.

“We are thrilled to announce the opening of our new location in Santa Teresa and look forward to bringing high-quality products closer to our customers,” VP of Sales & Marketing Gordon Narburgh said. “This expansion has been made possible by the hard work of our teammates, who are constantly focused on providing timely, excellent service with an unwavering commitment to customer satisfaction. We are especially thankful for our loyal customers who have partnered with us in our journey to become an acknowledged industry leader.”

The location will have a copper bus bar and sheet metal fabrication, plus a state-of-the-art five-stage powder coating line, a release said.

“Monti is one of several companies to recently select Santa Teresa to expand their operations because of the region’s impressive manufacturing talent and superior logistics capabilities,” Jerry Pacheco, business advisor to The New Mexico Partnership, said.

Other companies that recently expanded to the Borderplex include: Franklin Mountain Packaging, Louisiana Pepper Exchange and the Taiwan-based Hota Industrial.

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