MLG’s big economic development “wins” now quietly abandoned

At Rio Grande Foundation we have attempted to keep a close watch on Gov. Lujan Grisham’s supposed big economic development “wins” Maxeon Solar and Ebon Solar. Originally, Maxeon was supposed to build a 1.9 million square foot facility, hire 1,800 people, and bring an estimate $4.2 billion to New Mexico. Ebon was supposed to build a $942 million solar cell manufacturing factory with 834,000 square feet of space and create at least 911 jobs. Astute observers (including us) will note that none of this has happened.

We have waited and questioned what, if anything, would happen with these two massive developments and, while no press releases have been put out to update New Mexicans on the situation, we have an answer. A March 15 article in the Albuquerque Journal that more broadly addresses New Mexico’s so-called “renewable” industry states the following:

Earlier this year, Maxeon backed out of the project, a decision a spokesperson told the Journal was based on a “strategic restructuring of our business.” City and state officials awarded Maxeon for its promise to create some 1,200 new jobs with millions in Local Economic Development Act funds and industrial revenue bonds.

Another company, Ebon Solar, a subsidiary of Singapore-based chip manufacturer Ebang International, also pitched a solar cell manufacturing facility in Mesa Del Sol. But construction has been delayed on that factory, too. Representatives of Ebon Solar and its parent company did not respond to emails or phone messages about the status of that project.

In other words, at least one of the planned factories is not going to happen while the other is at best a huge question. We looked and could not find any formal announcements that contradicted their original statements that they were coming to NM. Instead, you missed it unless you are reading this post or read the newspaper article.  We will be requesting information from NM’s Economic Development Department on whether the $10 million grant “received” by Ebon was paid out or whether Maxeon received any taxpayer dollars.