{"id":27696,"date":"2024-05-08T18:53:28","date_gmt":"2024-05-09T00:53:28","guid":{"rendered":"https:\/\/dh.durangoherald.com\/tj\/new-mexicos-deal-with-maxeon-ranked-among-the-top-deals-in-north-america\/"},"modified":"2026-03-31T00:09:27","modified_gmt":"2026-03-31T06:09:27","slug":"new-mexicos-deal-with-maxeon-ranked-among-the-top-deals-in-north-america","status":"publish","type":"post","link":"https:\/\/dh.durangoherald.com\/tj\/new-mexicos-deal-with-maxeon-ranked-among-the-top-deals-in-north-america\/","title":{"rendered":"New Mexico’s deal with Maxeon ranked among the top deals in North America"},"content":{"rendered":"

\"A
A solar farm west of Rio Rancho in 2021. Susan Montoya Bryan\/The Associated Press<\/span>Susan Montoya Bryan<\/span><\/figcaption><\/figure>\n<\/p>\n

Site Selection magazine recently featured New Mexico\u2019s agreement with Maxeon Solar Technologies to construct a solar cell manufacturing plant in Albuquerque on its 2023 Top Deals in North America list.<\/p>\n

The list released last week put the $1 billion Maxeon project in Mesa del Sol at 17th among the top deals in 2023, according to the New Mexico Economic Development Department.<\/p>\n

\u201cNew Mexico\u2019s deal with Netflix was honored by Site Selection in 2021, and now, with Maxeon, the state has a strong track record of recruiting global companies that will have a significant economic impact and help New Mexico families attain higher-paying jobs and economic security,\u201d Acting Economic Development Cabinet Secretary Mark Roper said in the release.<\/p>\n

In June 2023, New Mexico Gov. Michelle Lujan Grisham said the agreement with Maxeon would create up to 1,800 jobs.<\/p>\n

Once finished, Maxeon\u2019s 1.9-million-square-foot campus in Albuquerque will be its first U.S. manufacturing expansion.<\/p>\n

\u201cThe new world-class, 3-gigawatt facility is designed to produce the latest-generation silicon cell technology, serving both the Utility Scale Power Plant market and Distributed Generation rooftop applications,\u201d the release said.<\/p>\n

Maxeon\u2019s 160-acre plant and planned capacity would be about double the size of the second-biggest silicon solar manufacturing facility currently operating in the United States.<\/p>\n

The site would include solar cell fabrication, panel assembly, a warehouse, and administrative offices.<\/p>\n

Maxeon currently has plants in Mexico, Malaysia, and the Philippines.<\/p>\n

Recently, Maxeon hired an Albuquerque-based project manager to oversee the facility\u2019s construction.<\/p>\n

\u201cSite surveys and geotechnical evaluation have been completed, and the construction air permit has been issued,\u201d the release said. Further construction is pending approvals with the City of Albuquerque on water and wastewater treatment and the closing of financing.\u201d<\/p>\n

Additionally, Maxeon submitted a funding application for the project under the U.S. Department of Energy\u2019s (\u201cDOE\u201d) Title 17 Clean Energy Financing Program; that application is currently under diligence review. Similarly, Maxeon also successfully finished the National Environmental Policy Act (NEPA) review related to this application.<\/p>\n

Maxeon will benefit from many tax credits and credits once the project comes to fruition. Some of those benefits include, \u201ca job-creation award from New Mexico\u2019s LEDA closing fund, state manufacturing tax credits, credits for high-wage job creation, property tax relief stemming from Bernalillo County Industrial Revenue Bonds, and a new Advanced Energy Tax Credit, signed into law by Gov. Lujan Grisham in March 2024,\u201d the release said.<\/p>\n

Maxeon will get $20 million in LEDA funding, plus 2.08% of the Gross Receipts Tax on construction costs of the project (0.913% from New Mexico, 0.797% from Albuquerque, and 0.375% from Bernalillo County), according to documents NMEDD provided The Center Square. Maxeon will also receive a $2.4 billion industrial revenue bond from the state. However, other incentives in the deal depend on how much equipment the company buys and how many employees it hires, so the final calculations remain unknown.<\/p>\n

\u201cThis project highlights how New Mexico\u2019s investments in clean energy and manufacturing have built an ideal business environment for companies like Maxeon,\u201d New Mexico Partnership President & CEO Melinda Allen said in the release. \u201cIt\u2019s also a great example of how our government and industry stakeholders can mobilize quickly and effectively to meet the needs of a large-scale project.\u201d<\/p>\n

The Center Square<\/a> was launched in May 2019 to fulfill the need for high-quality statehouse and statewide news across the United States. The Center Square is a project of the 501(c)(3) Franklin News Foundation, headquartered in Chicago.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Governor says the agreement with Maxeon will create up to 1,800 jobs<\/p>\n","protected":false},"author":1,"featured_media":27697,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[431,138,1426],"naviga_topic":[],"class_list":["post-27696","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-business-general","tag-new-mexico","tag-renewable-energy"],"acf":[],"author_name":"dh_admin","_links":{"self":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts\/27696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/comments?post=27696"}],"version-history":[{"count":1,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts\/27696\/revisions"}],"predecessor-version":[{"id":80165,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts\/27696\/revisions\/80165"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/media\/27697"}],"wp:attachment":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/media?parent=27696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/categories?post=27696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/tags?post=27696"},{"taxonomy":"naviga_topic","embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/naviga_topic?post=27696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}