County approves $30 million IRB to expand 3D Glass Solutions’ manufacturing

Bernalillo County commissioners voted 5‑0 Tuesday to adopt Ordinance 2025‑512, authorizing an industrial revenue bond (IRB) for 3D Glass Solutions to support equipment purchases for a planned manufacturing expansion in District 4.

The vote authorizes an equipment‑only IRB with a par amount the county staff said is $30,000,000 and a 10‑year term; the company will pay a payment‑in‑lieu‑of‑taxes equal to 25% of the mill rate, which county staff estimated at about $46,732 annually to the county over the IRB term.

County economic development staff told the commission the company’s technology — described in the presentation as “Apex Glass” — was developed locally and that the business has expanded from a 5,000‑square‑foot facility to 37,000 square feet since 2018. Staff said 3D Glass Solutions increased payroll from about $1.5 million in 2018 to $6.1 million in 2023; the county packet listed an average salary above $91,000 for current employees. Staff said the company currently employs 66 people and expects to add 45 jobs within five years (and up to 54 jobs within ten years), bringing the projected total to about 120 positions if the IRB is used for capex to support high‑volume manufacturing.

Commissioner Benson praised the company’s prior performance under a 2018 IRB and urged support. “This I think is the ideal type of industrial revenue bond that we're looking for,” Benson said during the hearing.

The ordinance approved by the commission exempts equipment acquired with IRB proceeds from gross receipts and personal property taxes; staff said the lessee occupies a building under a separate IRB and that real property taxes will continue to be paid. The staff presentation identified the project site at 5601 Balloon Fiesta Parkway Northeast in District 4 and said expansion work would begin after equipment is delivered; long lead times for specialized equipment were noted.

The ordinance as adopted completes the county’s approval step; staff did not describe additional county loans or credit support. Commissioners voted unanimously (Frank Baca, Benson, Barbara Baca, Vice Chair Barboa and Chair Olivas recorded as voting yes).

The commission’s packet lists the ordinance number (Ordinance 2025‑512) and the tax‑exemption structure; staff materials included job and payroll projections and a breakdown of anticipated hires by function.

Votes at a glance: Ordinance 2025‑512 (Industrial Revenue Bond for 3D Glass Solutions) — Passed 5‑0.

The commission moved on to other agenda items after the vote; staff said the IRB is equipment‑only and that the applicant will remain responsible for real‑property taxes as a tenant.