A homegrown manufacturer is adding 180 jobs to its Farmington plant, with plans for a $7.5 million expansion.
PESCO, which designs and builds production equipment for the oil and gas industry, is expanding because of a new assignment to build reactor units for BayoTech of Albuquerque, Gov. Susana Martinez announced Monday.
“PESCO is a homegrown success story and an industry leader and I’m thrilled to see their continued growth and success,” Economic Development Secretary Matt Geisel said in a news release. “By expanding their manufacturing facility and creating more well-paying jobs, PESCO is expanding their impact on the local economy and helping New Mexicans find good jobs.”
Pay generally ranges from $12 to $22 an hour, with some engineering positions earning up to $56 an hour.
The additional jobs will bring PESCO’s workforce to 500, the release said. PESCO President and CEO Kyle Rhodes said 70 percent of his employees are Native American.
BayoTech, which spun out of Sandia National Laboratories, has been working on technology to provide mobile production units for hydrogen, ammonia and fertilizer producers.
The reactors that PESCO will build are being touted as a replacement for mammoth centralized fertilizer plants.
Bayotech was the first New Mexico startup to receive funding from the state’s Catalyst Fund, a $40 million partnership that invests in early-stage technology companies.
“The new units will diversify PESCO’s operations, add new jobs, and contribute to New Mexico’s innovation economy,” the news release said.
The company will get up to $2.35 million in Local Economic Development Act funds, with San Juan County acting as the fiscal agent.
“Our future is bright, as we look to expand, partnering with BayoTech, another New Mexico company, to bring technology developed in our state in innovative products to the chemical and agricultural industries worldwide,” PESCO President and CEO Kyle Rhodes said.
By: ABQ Journal News Staff
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