UbiQD Founder/CEO Hunter McDaniel, front row third from left, with his team in front of their headquarters recently at 134 Eastgate Road. Courtesy/UbiQD • Despite COVID, the company met all of their LEDA obligations each year, without exception, and the County Council voted to successfully close their LEDA project in May of this year. UbiQD, Inc. has successfully completed a Local Economic Development Agreement (LEDA), garnering praise from County and State officials. “Success stories like these are exactly why Gov. Lujan Grisham has increased investments in the LEDA program,” Governor spokesperson Caroline Sweeney said Wednesday. “Congratulations to UbiQD on completing this project, which is providing jobs and strengthening the economy in the Los Alamos area.” CEO Hunter McDaniel founded the advanced materials company in 2014, which powers product innovation in controlled-environment agriculture. As reported in 2017, UbiQD entered into the LEDA agreement with the State and County to support their expansion in Los Alamos. Although the company had already leased a 9,000 square-foot building on Eastgate Road, roughly 3,000 square-feet were unfinished due to lack of egress. The County provided a loan of $325,000 towards the purchase of the building (half of the purchase amount), and the State granted the company $125,000 to support the design and construction of a rear ramp and entrance to their HQ at 134 Eastgate Road. Years in the making, the ramp and rear entrance are almost completed, the interior has been fully renovated, and the Eastgate building has a new roof, McDaniel said. In exchange for the LEDA support, the company committed to hiring 20 (from five) full-time employees based in the state within five years, with a strict employment schedule audited annually. Despite COVID, the company met all of their LEDA obligations each year, without exception, and the County Council voted to successfully close their LEDA project in May of this year. “I want to express my deepest gratitude to the citizens of Los Alamos, the County Council, and the New Mexico Economic Development Department for their steadfast support of our growth,” McDaniel said. “By our estimations, the State received at least a 6-times return on the LEDA grant in terms of tax revenues, and the County is nearly paid back on the LEDA loan, a classic win-win scenario. I hope our story can help encourage the County and the State to do more LEDA projects.” Deputy Secretary Jon Clark of the New Mexico Economic Development Department spoke about UbiQD’s demonstrated success. “With funding from LEDA, the Economic Development Department was able to partner with UbiQD, a homegrown New Mexico company, in its early stages of development,” Deputy Secretary Clark said. “We are pleased to see the company has leveraged our support and proved its business model. This now means UbiQD can generate significant revenue from outside the state, boost its sales, and create more jobs for New Mexicans. We look forward to future collaborations as the company grows its national footprint.” Los Alamos County Manager Steven Lynne also commended UbiQD on its growth since receiving the LEDA grant in 2018. “We all win when the state and local governments can partner to support local start-ups with grants and loans, as was the case with UbiQD in 2018,” Lynne said. “The collective investment in this business has nurtured their growth and success and acted as a catalyst for progress within our community – creating meaningful job opportunities, bolstering tax revenues, and contributing significantly to the advancement of quantum dot technology.” New Mexico Vintage Fund mentioned UbiQD as well in a news release earlier this week, calling the company “a New Mexico stand-out” in terms of its business success. McDaniel earned a Ph.D. in Materials Science and Engineering at the University of Illinois at Urbana-Champaign. Prior to starting UbiQD he worked in the Chemistry Division at Los Alamos National Laboratory. Learn more about UbiQD at ubiqd.com. View drone video. Fulfilling commitments in the LEDA agreement crew members construct a rear ramp and entrance at UbiQD HQ at 134 Eastgate Road. Courtesy/UbiQD A crew member works on the rear ramp and entrance at UbiQD HQ at 134 Eastgate Road. Courtesy/UbiQD View of a new rear ramp and entrance at UbiQD HQ at 134 Eastgate Road. Courtesy/UbiQD Another view of a new rear ramp and entrance at UbiQD HQ at 134 Eastgate Road. Courtesy/UbiQD Read the original article here.