Albuquerque City Council Approves $3M Incentive for Mantis Space Headquarters
Albuquerque's City Council has approved a $3 million incentive package to attract Mantis Space, promising 186 high-paying jobs. This initiative is part of a broader effort to foster economic growth in the aerospace sector.
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The Albuquerque City Council has approved a $3 million Local Economic Development Act incentive for Mantis Space, which will relocate its headquarters and R&D lab to the city. The package includes $500,000 from the city and $2.5 million from the state, aimed at reimbursing lease costs and facility upgrades at 10500 Copper Ave.
NE. Mantis Space is focused on technology to transmit solar power to satellites, creating an advanced space power grid. The project will generate 186 jobs averaging $180,000 annually over the next decade, with potential expansion involving a $90 million manufacturing facility, adding 135 more jobs. This development signals a significant investment in Albuquerque's aerospace capabilities, with projected net benefits of $8.4 million over ten years.
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