MCT Development asks for Bernalillo County IRBs

Up to $15M to finance industrial park expansion

MCT Development, an affiliate of an Albuquerque company that manufactures custom trailers and aircraft maintenance and ground equipment for commercial, military and government use, is asking Bernalillo County for up to $15 million in industrial revenue bonds to expand its operations and those of its tenants near Balloon Fiesta Parkway.

In its application, the company says the money will be used to renovate an existing facility at the site and to expand the MCT Industrial Park to accommodate its own business growth and those of current and future tenants.

MCT Development, an affiliate of MCT Industries Inc., said the bulk of the build-out will occur in two phases over 36 months and will generate 170 construction jobs.

Part of the overall project calls for up to a $3 million renovation of an existing 88,000 square-foot office/ manufacturing building (5601 Balloon Fiesta Pky. NE), requiring a new IRB for the firm, according to the application. The application states the building won a 20-year IRB with the city of Albuquerque, but it expires in 2017.

Renovation of the building will help generate 15 full-time jobs for MCT and existing tenants, such as MIOX, HQ West and Wonix Quartz, the applicant projects.

A second IRB up to $12 million will fund the construction of new buildings at the MCT Balloon Fiesta Industrial Park, including a 40,000-squarefoot office/manufacturing/industrial building and a 50,000-square-foot office/manufacturing/industrial building.

The two buildings would be used by MCT or other tenants, according to Claudine Martinez, the company president.

Design plans and completion dates are pending, she said. Bernalillo County commissioners earlier this week agreed to accept the company’s IRB application and will vote at a later date.

In addition to the 170 construction jobs, the park at full capacity will create 53 permanent jobs, said Martinez.

She said the company needs the extra space in Albuquerque to meet the demands of new and ongoing clients. “It’s a good thing for us,” she said. “It’s a good thing” for the New Mexico economy, she added.

Government entities issue the bonds and companies like MCT are responsible for repaying the debt.