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Bernalillo County approves $30 million IRB for 3D Glass Solutions expansion
Summary
The Board of County Commissioners unanimously adopted an ordinance authorizing a $30 million industrial revenue bond for 3D Glass Solutions to buy manufacturing equipment, exempting the equipment from gross receipts and personal property taxes for 10 years.
Bernalillo County commissioners on March 11 unanimously approved an ordinance to induce a $30 million industrial revenue bond for 3D Glass Solutions Inc., a local maker of glass-ceramic components used in semiconductor and telecommunications manufacturing. Ms. Tobias, economic development staff, presented the proposal and answered commissioners' questions.
The ordinance authorizes an equipment-only IRB with a 10-year term that will exempt the company from gross receipts tax and personal property tax on the newly purchased equipment. Under the staff presentation, the payment in lieu of taxes (PILOT) is set at 25% of the mill rate, which staff estimated will amount to about $46,732 annually to the county over the 10-year term.
Why it matters: Economic development staff said the expansion will support the company’s transition from R&D to higher-volume manufacturing, retain 66 current jobs and add new positions: roughly 45 additional hires within five years and up to 54 additional hires over 10 years, bringing total employment at the facility toward 120. Staff also reported that average annual payroll at the firm rose from about $1.5 million in 2018 to $6.1 million in 2023 and that the company currently pays average wages above $91,000.
In the meeting, Commissioner Benson praised the company's previous compliance with an earlier IRB and called it a model project for job creation and out-of-state revenue. Commissioner Barbara Baca complimented the presentation materials and said she intended to support the ordinance. Chair Olivas confirmed the vote after a motion and second; the roll call showed five votes in favor and none against.
The ordinance was recorded as item 7A (Ordinance 2025-12) on the published agenda. The commission’s action is administrative: the county will monitor the IRB per its usual IRB oversight procedures.
The county filed the ordinance for final adoption at the March 11 meeting; adoption means the county will proceed with the IRB as described in the staff presentation and associated summary materials.
