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Thu, Jun 24, 2004

Albuquerque Gives Eclipse A Break

City Council Approves Tax Incentives To Lure Manufacturer

The Albuquerque (NM) City Council has decided to wholeheartedly back Eclipse Aviation, approving a $45 million dollar industrial revenue bond package for the company. The company also got a $770,000 tax break over ten years.

Eclipse says it'll use the money in researching, manufacturing and office support.

With the award, the city council wants something in return: Eclipse says it will produce 300 jobs over the next three years. But, if Eclipse folds or leaves Albuquerque before 2010, it will have to pay the $45 million back.

FMI: www.eclipseaviation.com

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