ALBUQUERQUE, N.M. (KRQE) – A New Mexico business known for its green chile is getting another helping hand when it comes to its expansion. The City of Albuquerque is voting to approve bond funds to help Bueno Foods with a new manufacturing facility. Bueno Foods is already home to a 110,000 square foot manufacturing facility and it plans to expand even more with an investment of $10 million into the construction of a 25,000 square foot freezer warehouse with work well underway.
In order to make the expansion possible, the company is asking the City of Albuquerque for tax-exempt industrial revenue bonds to fund the project. According to the City of Albuquerque, Bueno Foods would pay yearly interest on the bond back to the city. Back in the spring, the state also gave Bueno Foods a LEDA grant for $500,000 to help fund the expansion.
“This expansion will add more than $106 million in economic impact,” State Economic Deputy Secretary Jon Clark said at the time. “Over and above the tremendous economic impact that Bueno Foods already provides to our community and has for decades.
The expansion is a hefty investment for the local green chile manufacturer and will not only increase distribution efforts but will also offer 49 new jobs over a six-year period. The project will also add about 80 to 100 construction jobs this year. The city council will vote on issuing the bond on Monday afternoon.