Albuquerque’s Skorpios Technologies Inc. is expanding its operations with the assistance of $7 million in Local Economic Development Act (LEDA) funding from the state and the city of Albuquerque.
Announced Monday, the optical communications company’s expansion expects to ultimately bring 300 high-wage jobs to the city over the next few years. According to a statement from Gov. Susana Martinez’s office, the company will receive $5.5 million from the state and an additional $1.5 million from the city. The funding from both the city and the state is to assist with infrastructure at “the company’s new permanent facility in Albuquerque,” including research and development efforts, as well as test and assembly operations. The company is located at 5600 Eubank Blvd. NE.
The jobs created will include high-tech engineering and manufacturing roles and will carry salaries ranging between $60,000 to $150,000.
Skorpios CEO Stephen Krasulick said in a statement that the company is excited to expand in Albuquerque and looks forward “to collaborating with the state and city to create opportunities that benefit the community and our company.”
The expansion news comes almost a year after the company landed $22 million from Cottonwood Technology Fund during the first quarter of 2015. While the deal was not for Series A funding, it remains one for the bigger venture capital deals in the state during the early part of the year.