© 2024 KRWG
News that Matters.
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

City of Albuquerque, aerospace company agree to lease deal

  ALBUQUERQUE, N.M. (AP) — The city of Albuquerque in New Mexico and an aerospace company that is planning a satellite manufacturing operation have come to terms on a lease for 114.5 acres of Aviation Department land. Documents sent this week from Albuquerque Mayor Tim Keller to City Council say the pending development agreement requires Theia Group Inc. to develop the site in the next decade, including at least 48 acres by 2025. Representatives have said that the proposed project could host 1,000 workers when it opens and eventually grow to about 2,500 people.