Albuquerque Journal (Albuquerque, NM)

STAY OR LEAVE?(Business Outlook)

Byline: Diane Velasco Journal Staff Writer

CEO of a local startup says New Mexico is stingy with incentives

Aerospace Composite Structures is exactly the type of business New Mexico's economic development leaders say they want to attract.

It's a clean industry, using a new process developed with the help of Sandia National Laboratories to make lightweight, durable air cargo containers.

It employs 12 people at good wages in its Albuquerque office and hopes to eventually employ several hundred.

Yet its CEO says he's frustrated by a lack of support in New Mexico for the startup company and is considering moving out of state.

"This is a beautiful place to live, but the economic environment is terrible, especially for startup companies," said Bob Bushman, CEO of Aerospace Composite Structures LLC.

"We felt from the beginning the state didn't lift a finger to support or help us in our developmental and growth stages," he said. "We became extremely frustrated with the lack of backing."

He says other states have begun wooing his company with offers of free rent and financial backing to move before he begins manufacturing. …

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