New Mexico Governor Susanna Martinez visited Vibrant Corporation’s brand-new headquarters today to propose a series of tax credits and funding bills. The proposed measures are designed to encourage more local investment in technology start-up companies. The tax credit changes would allow angel investors to invest in more companies and raise the investment cap from $750,000 to $2 million. The technology jobs tax credit would also be improved. The funding bills would appropriate money for a Technology Research Collaborative and a job training incentive program. “New Mexico has tremendous potential to become an even stronger leader in high-tech research and development, but we must improve the way in which we support innovators who want to bring their ideas and products to the marketplace and reward the creation of technology-related jobs in our state,” said Gov. Martinez.
The proposed legislation is sponsored by Rep. Jane Powdrell-Culbert, R-Sandoval, who said, “We keep hearing on the Science and Technology committee that we need investors. The [angel investor] credit is a dream come true for many in the technical world. Who knows, maybe if we have these smaller companies, we’ll get that next big company.”
“It was an honor both for Vibrant, and for me personally, to have Governor Martinez hold this press conference in our facility,” said Vibrant CEO Lem Hunter. “The programs she outlined in her talk were an excellent combination of support for New Mexico businesses and long term growth of the state’s tax base.”
The high-profile visit came just as Vibrant personnel were moving into their new offices. “We were all, literally swinging hammers at 9 am today,” said Hunter. “Last night we unloaded the last trailers.” The expansion into the new 6,000-sq. ft. facility accommodates Vibrant’s new projects for manufacturing of PCRT systems for its aerospace and power generation testing services along with supplying systems to ITW-Magnaflux for automotive part testing.
Additional coverage of the governors visit and proposals can be found at:
ABQJournal: www.abqjournal.com/330454/news/gov-pushing-tech-tax-credit-expansion.html
Albuquerque Business First: www.bizjournals.com/albuquerque/news/2014/01/03/vibrant-new-hq-first-visitor-martinez.html and www.bizjournals.com/albuquerque/news/2014/01/03/martinez-proposals-startup-investment.html
About Vibrant Corporation
Vibrant Corporation provides Process Compensated Resonance Testing (PCRT) services to the aerospace and power generation industries worldwide through its facilities in the United States and Vibrant GmbH in Germany. PCRT applications range from quality assurance and process capability assessment for original equipment manufacturers to in-service structural assessment and life monitoring for maintenance, repair, and overhaul organizations. Vibrant also pursues new technology development with Department of Defense research labs. Vibrant manufactures its own PCRT testing equipment. It is also a prime supplier of Process Compensated Resonant Inspection (PCRI) equipment for ITW-Magnaflux, which is used in the automotive industry. Vibrant is AS9100-C and ISO 9001:2008 certified. www.vibrantndt.com