Diversified global food company Flagship Food Group announced plans for an expansion of their operations in Albuquerque, NM.
As part of this expansion, the California-based Flagship will be creating 300 new jobs in Albuquerque, with plans to hire 155 employees over the next year and the remaining 145 in the next few years.
Flagship already manufactures products under its 505 Southwestern brand in Bernalillo County, and is relocating an out-of-state operation to a new location in Albuquerque, where it will consolidate both the existing and new operations.
Flagship Food Group CEO Rob Holland was joined for the announcement by Governor Susana Martinez, New Mexico Economic Development Department Cabinet Secretary Jon Barela and Albuquerque Mayor Richard J. Berry.
Also present were local officials representing Albuquerque Economic Development and Bernalillo County.
Gov. Martinez said in a release that they are proud of Flagship Food Group becoming their latest partner in growing New Mexico’s private sector economy.
Holland noted that they are looking forward to the New Mexico expansion, and added that the state has an extremely talented workforce and newly improved tax climate for manufacturing and exporting.
The Flagship CEO added that Gov. Martinez, Sec. Barela, Mayor Berry and the Bernalillo County Commissioners had shown a genuine interest in the company, and Flagship is thrilled to be in the state.
Albuquerque Economic Development recruited the project, with support from the Bernalillo County Economic Development Department and NM EDD.
Flagship applied for an Industrial Revenue Bond (IRB) of $10.25 million to help finance the acquisition of the property and for equipping the food manufacturing plant. The county will hold title to the personal property until such time as the company manages to repay the bondholders.
The New Mexico Economic Development Department is additionally providing $150,000 in incentives to help the company upgrade the new Albuquerque facility in Desert Surf Circle.
Sec. Barela said that New Mexico has been working hard to diversify its private-sector economy, and value-added food production was an area of natural growth for the state. He added that this industry provides well-paying jobs and brings new dollars into the state through exports.
Flagship Food Group, LLC is headquartered in Los Angeles, and serves many of the world’s leading retail, food service and grocery chain companies. Their brands such as Oasis, 505 Southwestern and TJ Farms Select are distributed through more than 30,000 retail outlets that include large retailers like Costco.
The company sells 170 million pounds of food product annually, and their purchasing for a food manufacturing facility can also make a big impact on the economy. Flagship already buys more than 2.5 million pounds of New Mexico’s Hatch Green Chile every year.
Apart from Los Angeles and Albuquerque, the company has additional offices and production facilities spread across locations including Boise, Atlanta and Indianapolis, and has one overseas location in London.