News and Events
New Mexico Business Weekly
Friday, January 09, 2009
SunCal promises 11,500 jobs
Claiming it will bring 11,500 permanent high-paying jobs to the state during tough economic times, SunCal New Mexico is getting ready to re-approach the state Legislature for Tax Increment Development District approval.
The company needs the TIDD approvals at the city, county and state levels to commence infrastructure work on the 57,000 acres it acquired in its $250 million acquisition of Westland Development.
State legislators rejected SunCal's effort in 2008 for TIDD financing. SunCal began its new lobbying efforts in late 2008 and is stepping up efforts now before the Round House reconvenes this month.
"This will be an incredible shot in the arm for the entire New Mexico economy," said Will Steadman, head of SunCal New Mexico. "Our analysis indicates many of these jobs will be in sectors such as alternative energy, manufacturing and high tech."
"The positive impact of attracting new jobs to the metro area will not only be felt by the employees and their families," said SunCal New Mexico Vice President of Economic Development Luisa Casso. "Net new jobs to the community have a ripple effect that can be felt throughout our marketplace as businesses contract with other New Mexico companies for support services and supplies. It is a win-win situation for everyone."
SunCal New Mexico's employment data come from analyses performed by Professor Robert Burchell, head of the Rutgers University Center for Urban Policy Research. Dr. Burchell is an internationally distinguished urban planning researcher and author.
"We have always talked about adding employment to the Westside, so everyone wouldn't have to jam bridges each morning to get to work," said District 1 City Councilor Ken Sanchez. "Finally, somebody is following through on this vision for smart growth and my hat's off to SunCal New Mexico for their commitment to getting growth right."
"Our investment in New Mexico so far has been more than $250 million. It would not be a stretch to suggest that SunCal has already had a positive impact on the local economy," said SunCal Vice President David Soyka. "What we will really need to create the jobs is a demonstration to prospective employers that we can provide immediate infrastructure. To do this, we need support from lawmakers to enable tax increment financing so we can complete the needed infrastructure in a quality, right-sized way, all at once and up front."