Albuquerque, New Mexico Economic Development Incentives for Skorpios Technologies Expansion

Photonic integrated circuits manufacturer Skorpios Technologies Inc. has announced plans for an expansion of its operations in Albuquerque, NM.

New Mexico LEDA

New Mexico LEDA (photo -gonm.biz)

Supported by $7 million in state and Albuquerque economic development incentives, the company will create up to 300 jobs over the next few years.

These will be high-tech engineering and manufacturing positions with an average salary of more than $60,000, and ranging all the way up to $150,000.

Skorpios Technologies is a fabless semiconductor company that has developed its own wafer-scale, silicon photonics process. Their proprietary technology has a wide range of applications for everything from high-speed video to data and voice communications for networking and cloud computing, storage, wireless and cable TV.

Skorpios Technologies Founder and CEO Stephen Krasulick said in a release that they are thrilled to continue the expansion of their business in Albuquerque, and look forward to collaborating with the State and City to create opportunities that benefit the community and the company.

“All of us at Skorpios would like to thank Governor Martinez, Secretary Barela and Mayor Berry for their outstanding support as we take the next step in the evolution of Skorpios,” added Krasulick.

Skorpios has been awarded $5.5 million in state incentives that will be provided as Local Economic Development Act (LEDA) funding to help develop infrastructure at the company’s Albuquerque facility to expand its research and development, test and assembly operations.

The City of Albuquerque will pitch in with another $1.5 million in LEDA funding to help with the company’s infrastructure spending costs. The LEDA awards from the city and state were cited as key to help keep Skorpios in New Mexico.

The Local Economic Development Act is New Mexico’s closing fund to help recruit new businesses to the state and help existing businesses grow and thrive. Governor Susana Martinez said in the release that “Building New Mexico into a high-tech jobs leader is a cornerstone of our efforts to grow and diversify our economy.”

Skorpios also said that it decided to expand its operations in New Mexico because of the state’s high quality of life and deep talent pool of workers experienced in hardware development and physical sciences.

New Mexico Economic Development Secretary Jon Barela said in the release that “Skorpios is a locally grown firm with the technology and expertise to be a game changer in the telecommunications and data communications industry, and we are proud they chose to keep their business in New Mexico.”

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