Albuquerque leaves Orion Center satellite manufacturing plant, over 1,000 jobs
ALBUQUERQUE, NM (KRQE) – The huge satellite company deal that Mayor Tim Keller celebrated as a game changer for Albuquerque has died in the water. The Washington DC-based company was supposed to build a sprawling campus next to the Albuquerque International Sunport.
This bustling Orion center where the company was going to build satellites was supposed to be located on Boulevard Girard. and Gibson Boulevard. The city of Albuquerque says the deal is dead. A year ago, Albuquerque Mayor Keller said, âIf it really goes the way the company wants it to be, it will be a transformational project for central New Mexico. “
Theia company was to innovate this year on the Orion center and have more than a thousand employees in a year and a half. The 116-acre space is said to have a factory to build satellites, a research and test center, offices, a gymnasium, a food hall, a hotel and a seven-story parking lot.
A New York investment firm that has invested at least $ 200 million in Theia Group is suing the start-up. They claim their money, claiming that Theia Group has done nothing to revive its activity.
According to federal documents, a Manhattan judge has put Theia Group in receivership, meaning a foreigner will run the business now in an effort to pay off its lenders. The only real asset Theia Group has is its FCC license to launch and operate satellites, which is worth a fortune. Without this, Theia Group would be kaput.
Even when the mayor announced he was coming to Albuquerque last year, he hedged his bets a bit. âThis project is so important that we didn’t want to talk about it so much because we basically don’t want to mess it up. We hope that will happen. We believe it will happen. It’s getting very, very real, âKeller said.
Theia Group wanted to launch 112 terrestrial imagery satellites to form a network around the globe.
The City of Albuquerque has issued the following statement:
We are always looking for opportunities to create good jobs in Albuquerque and the Sunport is a key asset for development and job creation. Due to a recent litigation in which TGI is involved, the Sunport has made the decision not to go ahead with this potential lease, and we are now examining potential new development opportunities for this parcel of land. The City did not offer TGI any economic development incentive during the exploration of this lease.
City of Albuquerque