“I will continue fighting for the bold reforms and critical tools that have made New Mexico a great place to do business,” Martinez said. “We’re seeing the results of our hard work – companies like Vitality Works are staying and growing in New Mexico, while we’re attracting companies like Facebook. Let’s keep up the momentum.”
“This expansion is another big step forward in growing and diversifying our private sector economy,” Economic Development Cabinet Secretary Matt Geisel said. “Our commitment to helping New Mexico companies, like Vitality Works, grow and thrive is helping us create more jobs for hardworking New Mexicans.”
Since 2014, the company has used JTIP to create 76 new jobs and will utilize the program to ramp up growth during the current expansion.
“Thanks to New Mexico’s great workforce and improved business environment, we’re in a position to continue our growth and create more jobs,” said Mitch Coven, CEO of Vitality Works. “Without the help of LEDA, JTIP and the New Markets Tax Credit, an expansion of this scale would not be possible.”
New Mexico will provide up to $550,000 for the expansion through the state’s closing fund, known as LEDA. Bernalillo County will act as the fiscal agent for the LEDA award. LEDA helps recruit new businesses to our state while helping those that are already here grow and thrive. Nearly zeroed out when Governor Martinez took office, she fought to grow this important tool to more than $56 million.
Since 2011, Governor Martinez has bolstered economic development tools, cut taxes 57 times, and rolled back unnecessary regulations and red tape to create a business-friendly environment in New Mexico. Governor Martinez also established the Catalyst Fund, a $40 million partnership with the State Investment Council that focuses on helping 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 and others, while helping homegrown businesses like Skorpios, UBiQD, Descartes Labs, RiskSense and others grow and thrive as well.
For over three decades, Vitality Works has strived to provide leading edge medicinal dietary and herbal supplements of the highest quality, purity and potency. Based in Albuquerque, Vitality Works is a pioneer in the natural products industry and offers unmatched expertise in direct sourcing of botanicals in the development and manufacture of dietary supplements.