New Mexico Processes Addition of Worlds Largest Computer Manufacturer
Hewlett-Packard Co. announced plans to bring 1,300 new jobs to New Mexico by opening a technical support center in Rio Rancho. The center, set to open in mid-2009, will initially employ several hundred workers. The business will then expand its payroll to reach $50 to $60 million per year by 2012.
Economic Development Department Cabinet Secretary Fred Mondragón was pleased with the announcement, stating, "This is a direct result of wonderful collaboration between our offices, the New Mexico Partnership, Albuquerque Economic Development, the City of Rio Rancho, and the Office of the Governor.” Governor Bill Richardson added, “I’m proud that HP has recognized that New Mexico is a great place to do business and has chosen our state to make this tremendous investment.”
Preliminary figures point to most jobs paying at least $45,000. To be eligible for the high-wage job tax credits of over $20 million being offered by the state, a certain percentage of jobs must be classified as “high wage.” HP will also receive as much as $8 to $10 million in state funds for job training. Additionally, the Governor will ask for $12 million in capital improvement funds from the Legislature for the development.
HP, based in Palo Alto, California, is the world’s largest computer manufacturer based on revenue. For the four fiscal quarters ending in April, revenue totaled $110.4 billion. The IT company develops personal computers, printers, storage devises, software, networking equipment and other computer related applications.