LOS ALAMOS, N.M. (KRQE) – The bioscience business is set to be booming in northern New Mexico.
The state government is pledging at least $4 million in funding to Pebble Labs USA as they expand into Los Alamos. The company, which studies food and crop safety, was established in 2016, according to the Santa Fe New Mexican, as a spinoff company of Los Alamos National Laboratory.
Tuesday, it was announced at the New Mexico Consortium Biological Laboratory campus that the funding would come from the Local Economic Development Act grant from the New Mexico Economic Development Department.
The company expects to expand from 86 employees to 230. Pebble Labs plans to employ an additional 28 workers by the beginning of 2020.
Pebble Labs now occupies the New Mexico Consortium Biological Laboratory and will begin construction on two new buildings on land donated to the company by Los Alamos County valued at $1.4 million. The construction will cost $60 million.
Los Alamos County will also be assisting the company with a $12.5 million industrial revenue bond for the project. The New Mexican reports that over the next ten years, Pebble Labs will add five buildings with a combined 200,000 square feet.