Second New Mexico-Based Facility Awarded CHIPS Funding

New investment in Rocket Lab will expand statewide partnerships, create 140 high-paying jobs

SANTA FE, N.M. – New Mexico Economic Development Department (EDD) Acting Cabinet Secretary Mark Roper said that today’s announcement by the White House of another award to a New Mexico company under the CHIPS and Science Act solidifies New Mexico as a center for advancedmanufacturing.

The $23.9 million award to Albuquerque’s Rocket Lab, formerly SolAero, will significantly increase its satellite solar power production over the next four years and provide up to 140 additional jobs in New Mexico. The company will invest more than $70 million of private money into the expansion and $25 million in financial assistance and incentives from the State of New Mexico.

“New Mexico’s space economy is growing every day, and Rocket Lab’s expansion will bring more than 100 new jobs. This is just the latest example of how the CHIPS and Science Act is fueling new technology and high-wage jobs in New Mexico,” Gov. Michelle Lujan Grisham said.

Read the full press release here.