Gov. Susana MartinezSTATE News:
CORRALES ― Monday, Gov. Susana Martinez was joined by Ideum executives and local officials for the ribbon-cutting ceremony on the company’s new exhibit fabrication studio that will allow the company to continue growing production and creating new jobs. The new 5,500 square foot facility will grow Ideum’s footprint, allowing them to serve more customers across the globe.
“For years, we’ve worked relentlessly to make New Mexico a great place to do business and we’re seeing the results,” Martinez said. “When we cut taxes, slash through red tape and strengthen our powerful economic development tools, our homegrown technology companies, like Ideum, succeed and grow in New Mexico.”
Ideum’s new exhibit fabrication studio features state-of-the-art tools such as new CNC machines, a plasma cutter and mill, along with a variety of woodworking tools. Ideum custom designs and manufactures interactive multi-touch tables and walls using cutting-edge sensing and projection technology.
Their products help to create interactive experiences for museums, educational institutions, government agencies, and Fortune 500 companies.
“Ideum is a true economic development success story and I am thrilled to celebrate their continued growth,” Economic Development Cabinet Secretary Matt Geisel said. “After years of hard work to create a business-friendly environment, homegrown companies are choosing to stay and are thriving in New Mexico.”
Over the last decade, Ideum has used New Mexico’s economic development toolbox to accelerate their growth. In 2016, the New Mexico Economic Development Department provided $75,000 for the expansion through the state’s closing fund, LEDA, a tool that helps recruit new businesses to our state while helping those that are already here grow and thrive. Ideum has also received $685,912 million from the Job Training Incentive Program, JTIP, to help create 48 jobs. During their current expansion, they will utilize JTIP to create up to 12 new jobs. JTIP has helped the company train new employees for quality, high-wage jobs in fields such as interactive programming, IT support and exhibit design. Additionally, the company has also used the High Wage Jobs and Research & Development Tax Credits to expand their business.
“We are proud to be expanding in Corrales and excited to launch this new state-of-the-art facility where we will create a new generation of physical and digital exhibits for our clients across the globe. The space will allow us to expand our offerings and also provide space for us to prototype more immersive exhibits.” said Jim Spadaccini, Founder and Creative Director of Ideum. “The ribbon-cutting ceremony marks the launch of a new phase for our business.”
Since 2011, Martinez has bolstered economic development tools, cut taxes and fees 61 times, and rolled back unnecessary regulations and red tape to create a business-friendly environment in New Mexico. Martinez also established the Catalyst Fund, Innovation Vouchers, the SBIR Matching Grant, and the Credit Enhancement Program to help homegrown New Mexico technology startups grow and thrive. As a result of these tools, reforms, and investments, New Mexico continues to recruit global and national companies like Facebook, Keter Plastic, Safelite, Stampede Meat and others, while helping homegrown businesses like Bayotech, UbiQD, Descartes Labs, Armonica Technologies, and others grow and thrive as well.
