8500 Bluewater Road, Northwest
Albuquerque, NM 87113
- Purchase, renovation and equipping of a 109,000 sq ft manufacturing plant
- Consolidation of business activities
- NMTC Qualified Census Tract: 35001004705
- 17% Poverty rate
- 71% of Median Family Income
- 10.3% unemployment rate
- Renovation of a vacant manufacturing plant near public transportation
- 20 jobs
Finance New Mexico Allocation:$8,000,000
QEI Closing Date:September 2010
QLICI Closing Date:September 2011
Status: Expansion Complete as of Spring 2012
Vitality Works is a New Mexico based-manufacturer of herbal medicinal supplements that has been in business for nearly 30 years. The company enjoys a good reputation for producing supplements with high quality, purity and potency. Vitality Works has sustained growth from 20-40% every year for the past 12 years. While its former 21,000 sq. ft. facility seemed enormous to them seven years ago, the company fully outgrew its location about three years ago when office and manufacturing space became increasingly cramped. With sales exceeding structure and production, there have been numerous challenges maneuvering in the existing limited space. As an interim solution, they began running double shifts and acquired three additional warehouse storage facilities, yet with parking located inconveniently from the workplace. Audits from companies interested in doing business with Vitality Works, Inc. expressed repeatedly that when the company’s capacity could be increased, so would their purchase orders. The CEO was seeking a solution to expand facilities and workforce in order to respond to increased product demand.
Through NMTC financing, Vitality Works was able to accelerate its investment and infrastructure expansion for the production of high-quality medicinal herbs and supplements. With the funding, the company purchased, renovated and equipped the former Honeywell and Sparton Technology plant in Albuquerque. All manufacturing and administrative infrastructure was safely in its new quarters by March 2012.
The benefit provided by NMTC allowed Vitality Works to repurpose a large building, allowing them to bring energy and activity to the community, do business with other local businesses and create jobs. The infusion of cash received went back into the local economy and, importantly, the expansion project made it possible for employees to have a higher quality of work experience in a safer environment near public transportation.