Gov. Lujan Grisham and Array Technologies Announce New Mexico Expansion; The State Has Awarded Array $2.5M In Economic Assistance From The Local Economic Development Act
Portfolio Pulse from Benzinga Newsdesk
Array Technologies (NASDAQ:ARRY) has announced plans for a $50 million expansion in New Mexico, which includes a new manufacturing campus in Bernalillo County. The expansion is expected to secure hundreds of jobs and create nearly 100 new ones over the next few years. The state has awarded Array $2.5 million in economic assistance from the Local Economic Development Act to assist with land, buildings, and infrastructure costs. The expansion is expected to have an economic impact of more than $300 million over 10 years.
November 02, 2023 | 1:07 pm
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Array Technologies' expansion in New Mexico, supported by state economic assistance, is expected to secure and create jobs, potentially boosting the company's growth and reputation.
The expansion signifies Array Technologies' commitment to growth and job creation, which could positively impact investor sentiment and the company's stock price. The state's economic assistance also demonstrates support for the company's operations, potentially reducing financial risk.
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