Skip to comments.Flagship Food Group expands to create 194 new NM jobs
Posted on 08/14/2017 12:58:35 PM PDT by 2ndDivisionVet
ALBUQUERQUE, N.M. The Flagship Food Group -- parent company of the 505 Southwestern brand of food products -- will invest nearly $3 million to expand its manufacturing and distribution facilities in the Albuquerque area, creating 194 new manufacturing and distribution jobs and supporting over 100 construction jobs, according to an announcement made by Gov. Susana Martinez and CEO Rob Holland at the company's Albuquerque facility Monday.
"Our New Mexico-based products have helped us to grow internationally, and we look forward to further developing our partnership with the great state of New Mexico," said Holland in an accompanying statement.
Holland also thanked Martinez for New Mexico's "business-friendly environment."
Martinez, also present at the event, said in the statement that "since day one, weve been fighting hard to make New Mexico more competitive with surrounding states through reforms like cutting taxes and streamlining regulations. Results like these mean more jobs for New Mexicans, and give us even more momentum to build on as we keep working to grow and diversify our economy."
Flagship Foods originally expanded to New Mexico in 2014, citing the states enriched tax environment and improved business friendliness.
"Since day one, weve been fighting hard to make New Mexico more competitive with surrounding states through reforms like cutting taxes and streamlining regulations. Results like these mean more jobs for New Mexicans, and give us even more momentum to build on as we keep working to grow and diversify our economy."
Flagship Foods popular 505 Southwestern brand is produced in New Mexico and certified as a New Mexico True product. 505 Southwestern produces $70 million in sales, accounting for roughly 30 percent of Flagships $240 million in total sales.
New Mexico will provide $550,000 for the expansion through the state's closing fund, known as LEDA.
NM Ping List
Every little bit helps! :)
Thanks for the ping, LHI. Good news.
Good news - this should keep those great 505 products like the Hatch green chile salsa I buy at Costco rolling in to take care of my cravings!
505 is my go-to salsa (along with Sadie’s hot). 505 had a new one on the shelf recently. Tomatillo, lime, garlic and green chile. Mmmmmm. Chile roasting season is here and the smells are drool-inducing.
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