Announcement Comes on Heels of Several New Manufacturers Moving to New Mexico
Los Lunas - Today Governor Susana Martinez announced that family-owned manufacturing company Accurate will bring 250 new jobs to Los Lunas, paying between $18 and $30 per hour.
"We are proud to help local, family-owned companies like Accurate grow and expand in New Mexico," said Governor Martinez. "Businesses like this are the backbone of our continuing efforts to diversify our economy so that our families and communities can succeed."
Accurate's two companies, Accurate Machine and Tool (AMT) and Accurate Custom Injection Mold (ACIM) will break ground in September on a new 107,500 square foot facility located in the Los Morros Business Park, bringing 250 new jobs paying between $18 and $30 per hour, and hiring preference will be given to New Mexicans. New Mexico Economic Development Department (EDD) Cabinet Secretary Jon Barela, Los Lunas Mayor Charles Griego, and Accurate Executives Steve and Greg Pluemer joined Governor Martinez for the announcement.
Governor Martinez continues to lead efforts to diversify New Mexico's economy, reduce the state's overreliance on a dysfunctional federal government, compete for jobs, attract new companies, and help businesses grow. Today's announcement comes on the heels of several recent announcements of manufacturers and other companies moving their operations into New Mexico from places like Germany, Turkey, and California. German manufacturer CertoPlast will locate its first North American operation in Las Cruces, bringing 100 well-paying jobs. Turkish manufacturer CN Wire will locate its first North American facility in Santa Teresa, creating 300 jobs. Additionally, two California manufacturers, Franco Whole Foods and DHF Technical Products, are bringing new jobs to New Mexico as well. DHF is relocating to Rio Rancho, bringing up to 50 new jobs, and Franco Whole Foods is expanding operations to Las Cruces, bringing 160 new jobs.
In 2013, Governor Martinez signed legislation adopting a single sales factor for manufacturers in New Mexico, and reducing New Mexico's corporate income tax from 7.6 to 5.9 percent over 5 years, making New Mexico more competitive with other Western states. Governor Martinez also signed legislation cutting tax pyramiding, an unfair practice which often resulted in double and triple taxation of finished projects in the construction and manufacturing sectors. As a result of these much-needed reforms, in January 2014 Ernst and Young upgraded their rating of New Mexico's taxation of manufacturers to best in the west.
"Increased sales and contracts required us to expand but there was not room at the current site," said Greg Pluemer, of Accurate Machine & Tool. "We looked at the numbers and it was clear that New Mexico is the most competitive and welcoming place for us to operate, especially with the new tax changes for manufacturers."
ATM and ACIM will receive $400,000 in Local Economic Development Act (LEDA) funds from the New Mexico Economic Development Department to help with the design and construction of their facility. "I am thrilled that companies like Accurate continue to find New Mexico's business environment as a competitive place to do business," Secretary Barela said. "We have been working hard to reform our climate for businesses, and continue to improve New Mexico's reputation as an ideal place for manufacturing."
AMT and AIMC are privately-held, family-owned business started by Herb Pluemer that currently employ 50 workers. AMT was founded in Albuquerque in 1962 and is a tool and die manufacturer for defense contracts, medical applications, and private sector business. ACIM was founded in 1998 and is one of only three companies in the United States that produces in-mold labeled drinkware. Their product line includes medical components and food and beverage packaging for movie theaters and sports arenas.