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State of New Mexico and City of Alamogordo selects Emerging Technology Ventures for Local Economic Development Act funding

Funding supports the development of Emerging Technology Ventures’ Alamogordo facility.

Alamogordo, NM – May 28th, 2014

Emerging Technology Ventures (ETV) is pleased to announce a $500,000 award by the State of New Mexico and City of Alamogordo to support the acquisition and renovation of its La Velle Road facility. The award was made under provisions of the New Mexico Local Economic Development Act. In consideration for the funding, ETV will create twenty-four jobs in Alamogordo to support the design, development, and manufacture of unmanned ground vehicles for national security and commercial applications.

The agreement represents an essential element of ETV’s public-private partnership strategy to develop high-growth companies in the unmanned systems sector and sustainable technology-based economic growth in communities like Alamogordo. The La Velle Road facility will provide over 47 acres and 85,000 square feet of design and manufacturing space to be utilized by ETV and its small business partners in the development of collaborative, cross-domain unmanned system solutions.

“Collaborating with the State of New Mexico and City of Alamogordo is a great opportunity to bring high-value work to Southern New Mexico and to develop new unmanned system solutions for domestic and international markets,” said Cliff Hudson, Chief Executive Officer of Emerging Technology Ventures. “We’re deeply grateful for their support and very excited to move forward in this long-term relationship with the community.”