By Jesse Jones, The Paper. — Most people do not notice the thunderbird on Albuquerque’s flag in the top left corner, but its late-’60s design reflected the city’s role in the nuclear and Space Age. Nearly 60 years later, that vision is still unfolding, and could mean almost 200 high-paying jobs for Albuquerque residents.
On Monday, the City Council unanimously approved a plan to act as fiscal agent for a $3 million Local Economic Development Act incentive package to support Mantis Space. In return, the startup will move its headquarters, research and development lab and future manufacturing facility to Albuquerque, bringing 186 high-paying jobs over the next decade. The company is developing technology to beam solar power to satellites in orbit, part of its goal to build what it calls the “first true power grid in space.” It plans to use lasers to send energy to satellites and space vehicles, reducing the need for heavy batteries and extending mission life.
According to the proposal, the package combines $500,000 in city funding with $2.5 million from the state. The money will reimburse lease costs and facility upgrades at 10500 Copper Ave. NE, where the company is building a space energy lab with seven climate-controlled labs for optics research and satellite component manufacturing.
Jeremy Scheerer, co-founder and chief operating officer of Mantis Space, told councilors that Albuquerque stood out for more than its incentives, pointing to its research institutions, supply chain and skilled workforce, noting that the city beat out competitors nationwide. “Albuquerque exceeded nearly all our criteria for our highly competitive selection,” said Eric Truitt, CEO of Mantis Space.
Scheerer said the company already has 14 employees in New Mexico. The jobs will average $180,000 a year. In a second phase, Mantis plans to build a $90 million manufacturing facility in Albuquerque and add 135 more workers. The city’s fiscal analysis projects $8.4 million in net benefits over 10 years.
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