Martinez Visits Santa Teresa To Mark Previously Announced Turkish Wire Company Addition
KRWG
June 26th, 2014
Governor Susana Martinez visited Santa Teresa Thursday to mark the previously announced news that CN Wire will establish its first North American manufacturing facility in the city, bringing 300 new jobs to the community. Dona Ana County had approved the issuance of bonds to draw the company
“I am proud to welcome CN Wire to New Mexico as we continue to diversify our private-sector economy,” said Governor Martinez. “More and more businesses around the country and the world are learning that New Mexico is serious about competing for jobs, attracting new businesses, and helping existing ones grow.”
CN Wire will invest $42 million to purchase and renovate a 256,000 square-foot building in the Santa Teresa Business Center. This facility will serve customers throughout North and South America, mostly in the automotive and aerospace industries. CN Wire has also been approved for $537,626 in Job Training Incentive Program (JTIP) funds to hire and train 79 New Mexico workers. Some of these positions will also qualify for the state’s high-wage tax credit. CN Wire will also relocate their sales and distribution operation from Connecticut to New Mexico.
“New Mexico is ranked as the best in the West for manufacturers because of recent reforms in New Mexico’s tax structure to encourage the production of products here to be sold all over the world,” said New Mexico Economic Development Cabinet Secretary Jon Barela. “We are working hard to recruit manufacturers like CN Wire, because manufacturing jobs pay well and bring more dollars into our economy.”
Secretary Barela, the Mesilla Valley Economic Development Alliance (MVEDA), the Border Industrial Association, local leaders, and CN Wire representatives joined Governor Martinez for the announcement.
“MVEDA and the New Mexico Economic Development Department worked diligently to recruit CN Wire to Santa Teresa,” said Davin Lopez, MVEDA president. “This reinforces the supply chain and logistical advantages of Santa Teresa as a growing industrial cluster which will promote further interest and growth in the region.”
CN Wire is the U.S. affiliate of Turkish company, ER-BAKIR Elektrolitik Bakir Mamulleri A.S. The company’s products include single wire, multiwire, bunched and stranded wire, tin-plated copper and braid wire. CN Wire is expected to begin limited production in July 2014, with full production scheduled to begin in late 2014 or early 2015.
Information from: New Mexico Economic Development