ROSWELL, N.M. – February, 8, 2024– The New Mexico Economic Development Department (EDD) has provisionally awarded economic assistance to an Austin-based company to open a modular home manufacturing center in a long-closed building at the Roswell Air Center.
Turnkey Ventures Inc. is planning to invest $11.8 million into the New Mexico expansion and hire 330 workers in Roswell, establishing the community as a manufacturing center for its modular home products.
The City of Roswell is considering a proposed sale of city-owned property for the project. The 45 acres at 42 W. Earl Cummings Loop at the Roswell Air Center is the former home of Millennium Transit Services and has been vacant for over a decade.
Turnkey specializes in real estate development and acquisition, focusing on redevelopment in California, according to its website.
“We are excited to be expanding modular construction into New Mexico in partnership with Biltwise Structures,” Turnkey Ventures CEO David Lawver said. “We are appreciative of the City of Roswell as well of the State of New Mexico for their support. We look forward to being a part of the Roswell community, bringing in new jobs, and pushing the advancements of residential construction forward.”
“This project is a great start to create over 325+ jobs in Roswell. This company will certainly use the many great resources for workforce development with our Eastern New Mexico University campus here as well as strengthening our local economy,” Roswell Mayor Timothy Jennings said. “We also see them as a strong resource partner to support existing in-fill properties for housing in local subdivisions. We welcome them to our community.”
“This new business is a good fit for the City of Roswell – it can bring affordable housing, new jobs, and redevelopment to a long-vacant building,” EDD Acting Cabinet Secretary Mark Roper said. “If this investment moves forward, the EDD has pledged up to $400,000 in LEDA assistance to help Turnkey Ventures open its Roswell manufacturing facility. We stand as a ready partner.”
“We are extremely excited for Turnkey Ventures and their decision to locate in Roswell, New Mexico,” Michael Espiritu, president and CEO of Roswell-Chaves County Economic Development Corporation, added. “Their acquisition of a shuttered bus plant, vacant for over 15 years, and their projection for the creation of numerous jobs and millions of dollars in capital investment will continue to propel our community forward. The strong collaboration between the EDC and city leadership significantly contributed to this project. We look forward to supporting the company as they move forward in their new home here.”
The State’s commitment from the Local Economic Development Act (LEDA) job-creation fund to Turnkey is pending a formal application and financial review as well as a Project Participation Agreement between Roswell and Turnkey. The assistance will be paid out incrementally as the company meets hiring and economic development benchmarks.