Homegrown manufacturer plans to add 20 jobs
September 24th, 2018 – An Albuquerque manufacturer is relocating and adding over a dozen jobs.
Kevothermal, which builds vacuum insulation panels for packaging, refrigeration, electronics and insulation, is receiving $4 million from its North Carolina-based parent company, Sealed Air Corp., for the expansion.
The new facility is located at 5600 University Blvd. SE, according to Production and Technology Director Mark Connell, who cited the location and building quality as the main reasons for it being chosen. The firm’s former workspace was located at 3721 Spirit Drive SE.
Connell said the space needed renovations. He declined to disclose the general contractor or the cost of those projects.
More workers will also be added to the company’s roster. Connell said the firm is to hire a total of 20 employees over the next five years. Kevothermal will seek employees in the production and manufacturing areas, according to Connell, who declined to disclose the average salary of a Kevothermal staffer.
The state is expected to contribute up to $300,000 in Local Economic Development Act funding to support the expansion. LEDA funding is money granted to local governments to aid expanding or relocating businesses. Bernalillo County will act as the fiscal agent for Kevothermal’s LEDA award, according to the state.
The firm, though owned by a global entity, has New Mexican roots. Its technology was developed at the University of New Mexico’s Department of Engineering in the early 1990s, according to a news release.
Kevothermal is also staying in New Mexico for the long term, according to Connell, who said the lease for the new workspace spans 10 years.