SANTA TERESA, N.M. (AP) — A manufacturing company backed by a group of Taiwanese investors has plans to bring some of its business to southern New Mexico.
Gov. Susana Martinez announced Wednesday that Admiral Cable has selected Santa Teresa as the newest site for manufacturing operations. The incentive package included nearly $4 million in local economic development funds.
The company plans to invest $50 million in a 65,000-square-foot (6,039-square-meter) plant as part of the first phase. Subsequent phases could see the plant nearly triple in size.
Admiral Cable plans to be operational in early 2020, creating some 340 jobs.
Martinez said she invited the company to invest in New Mexico during a trip to Taiwan last summer.
The company makes electrical cords and power supplies as well as other industrial cables and wires for consumer and industrial markets.