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 Economic Development News 
Friday, March 25 2016

Award-winning local manufacturer to support 25 direct and induced jobs

Santa Fe, NM -- Secretary Jon Barela announced that award-winning local manufacturer Santa Fe Spirits is expanding its facility and creating 14 high-paying manufacturing jobs, and will support several more agricultural jobs for those who supply their business. Economic Development (NMEDD) Secretary Jon Barela joined local leaders for the announcement. Santa Fe Spirits' products can be found in stores throughout New Mexico, across the U.S. and around the world.

"Santa Fe Spirits is a great example of how incentives can help small businesses get across the finish line to expand, create new jobs and increase production," Secretary Barela said. "We want to continue to help our local manufacturers succeed as we continue to diversify our economy and bring new dollars to the state."

"We are thankful for the support we've received from the Martinez Administration and our local leaders," said Colin Keegan, founder of Santa Fe Spirits. "We pride ourselves on playing our own small part in growing the economy in Santa Fe and the State of New Mexico by hiring local and using local suppliers.

They are true partners in helping us make award-winning products to distribute around the country and the globe."

Santa Fe Spirits is currently in distribution negotiations with Mexico, and other countries around the world.

"Santa Fe Spirits is growing into an economic powerhouse in local manufacturing, right here on Santa Fe's Southside," said Santa Fe Mayor Javier Gonzales,  "Colin and his team are creating high-paying jobs and increasing business for local agriculture, all while they contribute to Santa Fe's unique cultural brand. We couldn't be more pleased to be here, in partnership with the State, helping another local business find growth and success. But the truth is, Santa Fe Spirits success is a result of their product, their hard work, and their dedication, and we are so proud of this group of Santa Feans."

Keegan has invested heavily in Santa Fe Spirits since its founding in 2010. The total expansion is expected to cost $1.25 million, including land, construction, equipment, and soft costs.

NMEDD will provide $325,000 in Local Economic Development Act (LEDA) funds to assist Santa Fe Spirits with the
development of an additional 4,000 square-foot building to accommodate future expansion. The City of Santa Fe is contributing $100,000 to the project through waived fees and financial incentives.

LEDA is New Mexico's closing fund and recruits new businesses to New Mexico and helps those that are already here grow. Additionally, Governor Susana Martinez ended the practice of double and triple taxation on manufacturers, helping New Mexico earn the title of "Best in the West" for manufacturers from Ernst and Young.

This project will generate more than $5 million in new tax revenue for the state and a have total economic output of more than $60 million.

Source: https://gonm.biz//

Posted by: Nicole@ExpansionSolutionsMagazine.com AT 08:56 am   |  Permalink   |  Email

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