A New Mexico equipment manufacturer plans to create as many as 180 jobs as part of a $7.5 million expansion, according to state economic development officials.
PESCO, a Farmington-based company that currently makes process equipment for the oil and gas industry across the western U.S., will add 20,000 square feet of space to incorporate the production of reactor units.
The deal stems from a partnership with Albuquerque, New Mexico-based BayoTech, which provides chemical reactors for the chemical and agriculture sectors. The startup, which spun out of Sandia National Laboratories in 2015, hopes to replace large, centralized fertilizer plants with mobile units, the Albuquerque Journal reported.
PESCO, which added 170 jobs in 2017, said the latest expansion would bring its workforce to 550 employees as well as broaden operations.
“PESCO’s manufacturing expertise allows BayoTech to focus on developing our core technology and expanding our market,” BayoTech CEO Justin Eisenach said in a statement.
New Mexico’s economic development fund will invest up to $2.35 million in the project, officials said.
Image credit: Jurand / Shutterstock.com
