About 300 jobs to come to Santa Teresa, New Mexico, at a wire manufacturer expected to start production this summer. Las Cruces Sun-News reported that CN Wire Corp. would renovate a building in Santa Teresa industrial park to serve as its first facility outside of Turkey, where the company is based.
The Doña Ana County Commission has approved $2.75 million for the company, which will be required to open at least 195 positions by July of 2017. Operations are expected to start at a reduced rate in the next month and increase to full capacity by the beginning of 2015.
Approval is still needed from The State Board of Finance for a proposed $70 million bond to help fund the facility. A CN Wire Corp. representative told the news source that the plan will go ahead whether the bond passes or not.
"We wanted them here very badly," Gov. Susana Martinez said. "When they decided to bring 300 jobs, we couldn't be more grateful."
Manufacturing jobs in New Mexico declined from 28,300 in January to 27,400 in April before experiencing a slight boost to 27,500 in May, according to the U.S. Bureau of Labor Statistics. Over the last year, employment in the sector dropped 5.8 percent.