Canadian electric vehicle (EV) manufacturer GreenPower Motor Company has reached an agreement with the New Mexico Economic Development Department to build its new heavy-duty EV manufacturing facility and U.S. headquarters in Santa Teresa. The announcement comes only a year after it worked with the organization to launch the state’s first all-electric school bus pilot program.
The investment will create 340 new jobs and will add $200 million in economic impact for the state, which is why it has received the support of state legislators who have adopted policies conducive to the construction of the facility. This includes the designation of the city as a foreign trade zone which will “streamline customs and cost-effective trade,” a major incentive for the company’s decision to locate and invest there.
The project will also receive US$5 million through the Local Economic Development Act (LEDA), a grant designed to “stimulate economic development and produce public benefits;” US$4.6 million through the Job Training Incentive Program (JTIP), which reimburses up to 90 percent of employee wages for classroom and on-the-job training for up to six months; and over US$5 million in tax credits through the state’s Rural Jobs Tax Credit (RJTC) and High-Wage Jobs Tax Credit programmes.
“Governor [Michelle] Lujan Grisham’s steadfast commitment to advancing zero-emission vehicles has provided a supportive policy environment that encourages companies like GreenPower to invest and innovate,” said GreenPower president Brendan Riley.
