The Daily Dig:
GreenPower Motor Company announced in January that it has reached an agreement with the New Mexico Economic Development Department to build a 135,000 square foot advanced electric vehicle manufacturing facility in Santa Teresa, New Mexico. The plant is set to function as the company's U.S. corporate headquarters and the base for its North American operations.
According to GreenPower, the project is expected to generate more than 340 jobs and produce over $200 million in economic impact across New Mexico over the next ten years. The deal includes a state incentive package and covers production of zero emission school buses along with medium and heavy duty commercial electric vehicles.
Project Snapshot:
Company / Platform: GreenPower Motor Company (NASDAQ: GP)
Transaction Type: New manufacturing facility agreement with New Mexico EDD
Location: Santa Teresa, New Mexico
Facility Size: 135,000 SF
Jobs / Impact: 340+ jobs; $200M+ projected economic impact over 10 years
Incentives: $5M LEDA; $4.6M JTIP; $1.36M Rural Jobs Tax Credit; $3.65M High-Wage Jobs Tax Credit
TheJobWalk Thoughts:
A 135,000 square foot facility doubling as corporate headquarters isn't light assembly, that combination points to serious electrical infrastructure, full production line buildout, and ongoing facility support scope well past ribbon cutting. When LEDA and JTIP dollars are on the table, the state has skin in the game, and that changes the pace. Contractors and suppliers tracking EV manufacturing in the Southwest should have Santa Teresa on their radar now, not after the permits are pulled.
