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Council backs Solero (Rocket Lab) expansion: city readies IRB and LEDA support tied to CHIPS award
Summary
The council unanimously approved an industrial revenue bond (O-24605) and a Local Economic Development Act project (O-2466) to support Solero Technologies, a Rocket Lab subsidiary, after presentations from company and state development staff. The project ties to federal CHIPS funding and is expected to retain and add jobs.
The Albuquerque City Council unanimously approved two related ordinances to support Solero Technologies, a Rocket Lab subsidiary, to expand compound semiconductor manufacturing for space-grade solar cells. The council approved the industrial revenue bond ordinance (IRB) and a Local Economic Development Act project support ordinance after presentations by company representatives and state economic development staff.
What the council approved: Council adopted two ordinances designed to support the Solero expansion at Sandia Tech Park — an industrial…
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