In January, the four-year-old company was awarded $70,576 in Job Training Incentive Program dollars for the addition of eight new employees, the majority of which will be solar installers, for the move. Founder Ryan Wallace said the company is in the process of purchasing a 10,000-square-foot facility located between Dexter and Roswell to support the operation.
The facility, according to Wallace, has a price tag of $250,000, and the company will spend around $300,000 in renovations. The deal is expected to close in the coming weeks, and the company will look to add a total of 20 to 25 employees as part of the expansion, he said.
The firm employs a total of 72, according to Grant and Marketing Manager Lauren Komnick.
NM Solar Group is also in the process of relocating its Albuquerque headquarters to Rio Rancho, Wallace said. The new corporate office, 4140 Jackie Road, will include office and warehouse space.
NM Solar Group raked in $9.5 million in revenue last year. Most of the firm’s business comes from the commercial and residential markets. It expects to see $25 million in revenue this year, which Wallace said is on par with company growth trends.
The employee-owned company also began providing roofing and air conditioning services late last year due to client demand, Wallace and Komnick said.
NM Solar Group’s last expansion came in 2017 when it bought a facility in Alamogordo, Business First reported. Other solar companies are expanding as well, including Albuquerque’s Affordable Solar, which is looking to hire dozens.
Bringing more solar jobs to New Mexico could mean more well-paying positions. The average hourly wage of the eight employees NM Solar was awarded JTIP money for will be $19.19, according to New Mexico Economic Development Department documents.