November 2nd, 2023 –Gov. Michelle Lujan Grisham and Array Technologies CEO Kevin Hostetler announced today that Array Technologies (NASDAQ: ARRY) (“Array” or “the Company”) has finalized plans for a major expansion that will solidify the company’s New Mexico future with a new $50 million manufacturing campus in Bernalillo County that will keep hundreds of jobs secure for New Mexicans.
Array, one of New Mexico’s few publicly traded companies, got its start manufacturing solar tracker technology over 30 years ago in Albuquerque. Today, Array is a global leader in utility-scale solar tracking solutions that maximize the efficiency of solar panels by moving them to optimize the sun’s angle. In 2020, the company went public under the symbol ARRY.
“We are excited to assist this home-grown business through $2.5 million in Local Economic Development Act funding as it reinvests in New Mexico by building a skilled, high-paying workforce,” Gov. Lujan Grisham said. “New Mexico has a long history of being the home of innovation and cutting-edge technology, and companies like Array embody that legacy.”
The company chose a location on Albuquerque’s west side for a new 216,000-square-foot campus and Array and its partners plan to invest $50 million in the development. Construction is expected to begin in early 2024. The 22-acre expansion will allow Array to hire nearly 100 new employees over the next several years.
“Our foundation was laid in Albuquerque over 30 years ago and this expansion is a testament to our longstanding relationship with this vibrant community,” Kevin Hostetler, Array CEO, said. “This move signifies more than just growth; it reaffirms our commitment to New Mexico, its people, and the global renewable energy mission we’ve passionately pursued since we opened. We’re excited to continue lighting the way to a brighter, cleaner energy future from our home state.”
“Together with our partners at the State and Bernalillo County, we are working to safeguard jobs that support Albuquerque families,” Albuquerque Mayor Tim Keller said. “Retaining companies and supporting expansion is an essential part of keeping good jobs local and protecting the future of our economy.”
The State has awarded Array $2.5 million in economic assistance from the Local Economic Development Act (LEDA) job-creation fund to assist the company with land, building, and infrastructure costs for the property at 701 Atrisco Vista Blvd. SW. The funds will be awarded as Array meets specific economic development benchmarks.
The City of Albuquerque and Bernalillo County are assisting with $250,000 each of additional LEDA funds, in addition to partial property-tax abatement through an Industrial Revenue Bond with Bernalillo County.
In addition to hundreds of existing jobs, the new campus will aid in job creation including production, assembly, design, engineering, and customer service with a salary range from $35,000 to $127,000. Array Technologies offers entry-level employees benefits and an opportunity for career advancement into higher paying positions.
With capital investments and job creation, the expansion is expected to have an economic impact of more than $300 million over 10 years and generate 75 construction jobs, according to a state analysis.