On Monday, city councilors declared the City of Albuquerque’s intent to issue an industrial revenue bond package worth $6 million to support the expansion of the company TaskUs.
The California-based tech company TaskUs announced back in August that Albuquerque would be the home for its new technical operations and customer experience center.
This would bring nearly 700 jobs to downtown Albuquerque.
The Albuquerque Journal reports that the industrial revenue bond package would work as a property tax break, an incentive that was already approved by councilors for the company. It would include $2 million from New Mexico’s Local Economic Development Act fund in addition to the $1 million from the city’s closing fund.
TaskUs hopes to lease around 50,500 square feet in the First Plaza Building at Tijeras and Third Street for office space.
The actual bond ordinance will be discussed at a future meeting between city councilors.