7th August 2017

Tech company [plans to] buy building in Los Alamos

A tech startup that manufactures alternative energy products has decided to put down roots in Los Alamos by buying the building it leases at 134 Eastgate Drive. ...

McDaniel told the council his company has invested heavily in the property so far, and has plans to make further renovations to the building to expand its manufacturing operations. “We’re at this point where we want to purchase the building so we can invest in it,” McDaniel said. “Getting a loan through conventional channels like a bank is fairly difficult, so we’re asking the county to invest in our future, which is investing in the county’s future.”

The county is allowed to help the company through the New Mexico LEDA (Local Economic Development Act), an act that allows for public support of private entities. “This LEDA project is one way of insuring that we stay here, McDaniel said. “If we didn’t get the money from the county as a loan, most likely we have to get the money from investors who are most likely outside the state. They are most often pushing for relocating to a major city. By purchasing the building, we are laying down our roots and proving we can do it here in Los Alamos.” Before the council voted, McDaniel gave them a presentation on what the company does. One of their chief projects is the creation of quantum dot technology, which can be applied to glass and other surfaces to generate electricity.

Read the full article in the Los Alamos Monitor.