Economic development update: Sandoval Economic Alliance highlights business retention, site‑readiness and US Cotton closure

Fred Shepherd, president and CEO of the Sandoval Economic Alliance (SEA), told the Board of County Commissioners on Jan. 20 that the county’s economic development work continues to focus on job retention and growth among local businesses, while the county and SEA advance site‑readiness work to make government‑owned parcels more marketable.

Shepherd said SEA’s business retention and expansion program has visited more than the contract goal of 20 businesses this fiscal year and that roughly half of the visits have been in rural parts of the county. He said an economic gardening approach — which targets “stage 2” firms with 10–99 employees and growing revenues — and a microeconomic gardening program for smaller firms are central to SEA’s current work.

Shepherd noted a Harvard Business Review finding that attracting new firms accounts for a small share of overall jobs created and said SEA’s data since 2020 supports that: of 18 companies SEA assisted that created new jobs, 15 were existing local companies expanding and only one was a relocate from outside the state.

Site readiness: Shepherd described a state‑funded site readiness assessment of government‑owned parcels. He said 36 sites were targeted for assessment (three or four in Sandoval County), but only 28 submitted information and were assessed. Three Sandoval County sites received assessments, including city‑owned properties near the Rio Rancho city center, a UNM city‑center parcel and “Loma Barbon” off Highway 550. Phase‑1 environmental work has been completed on at least one site and county staff are already following up on recommendations, Shepherd said.

US Cotton: Shepherd updated commissioners that US Cotton is phasing operations out of four Rio Rancho buildings this year. He said the company gave long notice, that buildings are being marketed for lease and that roughly 70 jobs are tied to the four buildings in total. One building with about 30 employees has already shuttered operations and employees were offered transfer opportunities to other US Cotton buildings; the company continues to operate and recruit for certain positions while equipment is removed and buildings are marketed for re‑use.

Target industries and partnerships: Shepherd said SEA focuses on manufacturing, advanced manufacturing (including semiconductor supply chain), life sciences, renewable energy projects and selected data‑center investment. He described collaboration with county staff, city partners, the New Mexico Economic Development Department and the Albuquerque Regional Economic Alliance. Shepherd urged continued county support for site‑readiness funding being discussed at the state level.

Ending note: Shepherd asked commissioners to continue supporting site readiness work. He said county staff and SEA will continue to pursue state and federal funding and to market sites and buildings as vacancy and opportunity arise.