That’s where the Sandia Science & Technology Park came in. Established in 1998, the master-planned, 340-acre technology community—on land that was once a landfill—created a place where companies could set up shop and have easy access to their partners at Sandia and Kirtland Air Force Base.
Developing the Sandia Science & Technology Park required public and private investment, and EDA played a key role, with four grants between 2001 and 2008 totaling more than $3 million. EDA investment helped the Park install fiber-optic lines, a high-speed communications center, and security infrastructure improvements, upgrades that attracted businesses and allowed them to easily transition to their new professional home. Overall, the Park has drawn more than $410 million in investment from a collaborative of private and public entities, including the city and the state.
Beyond improving collaboration between companies and Sandia, the Park has been an economic development boon. The Sandia Science & Technology Park is now home to nearly 2,000 employees, 35 companies, and 27 buildings, generating $4 billion in economic activity between 1998 and 2021. It has also produced $166.1 million in tax revenue for the state of New Mexico and $36.6 million for the City of Albuquerque, and the average salary of a full-time job in the Park ($97,000) is nearly double the average salary in the Albuquerque metropolitan area.
“Those numbers benefit everybody: the city, the state, everybody benefits from the success of the Park,” said Sherman McCorkle, chairman and CEO of the Sandia Science & Technology Park Development Corporation.
Images (in order of appearance):
- Image courtesy of Barry Lawrence Ruderman Antique Maps Inc.
- Image courtesy of Sandia National Laboratories and former EMCORE Corporation
- Photo by Linda von Boetticher on behalf of Sandia National Laboratories
- Photo by Norman Johnson Photography