Turnkey Ventures to expand in New Mexico
NEW MEXICO – The New Mexico Economic Development Department (EDD) has tentatively granted financial assistance to an Austin-based company to open a modular home manufacturing facility in an enclosed building at the Roswell Air Center.
Turnkey Ventures Inc. plans to invest $11.8 million in the New Mexico expansion and hire 330 workers in Roswell, establishing the community as a manufacturing hub for its modular home products.
The city of Roswell is considering a proposed sale of city property for the project. The 45 acres at 42 W. Earl Cummings Loop in the Roswell Air Center is the former headquarters of Millennium Transit Services and has been vacant for more than a decade.
Turnkey specializes in real estate development and acquisition with a focus on redevelopment in California, according to its website.
“We are excited to expand modular construction in New Mexico in partnership with Biltwise Structures,” said David Lawver, CEO of Turnkey Ventures. “We thank the City of Roswell and the State of New Mexico for their support. We look forward to being a part of the Roswell community, bringing new jobs and driving residential construction advancements.”
“This project is a great start to creating more than 325 jobs in Roswell. This company will no doubt utilize the many great resources for workforce development with our Eastern New Mexico University campus here, as well as strengthening our local economy,” said Roswell Mayor Timothy Jennings.
According to Acting EDD Cabinet Secretary Mark Roper, this new business can bring affordable housing, new jobs, and redevelopment of a long-vacant building. He said that should the investment continue, EDD has pledged up to US$400,000 in LEDA assistance to help Turnkey Ventures open its Roswell manufacturing facility.
“We are very excited. The acquisition of a closed bus plant, vacant for more than 15 years, and its projected creation of numerous jobs and millions of dollars in capital investment will continue to propel our community forward,” said Michael Espiritu, president and CEO of Roswell-Chaves County Economic Development Corporation.
The state’s commitment to Turnkey from the Local Economic Development Act (LEDA) job creation fund is pending a formal application and financial review, as well as a Project Participation Agreement between Roswell and Turnkey. Assistance will be paid gradually as the company meets hiring and economic development criteria.
