Albuquerque builds $35 Million high-tech R&D hub!
Construction of the first building in Albuquerque’s high-tech research and development hub has officially begun in Central and Broadway Downtown.
The $35 million, 160,000-square-foot facility will house the University of New Mexico’s tech-transfer office and Innovation Academy, along with start-ups and partners involved in collective efforts to build a bustling, high-tech business zone in the heart of Albuquerque. The building will also provide housing for students studying in the entrepreneurial education programs and launching businesses.
Citizens of Albuquerque are very excited about the construction progression of the city’s R&D hub and are eager to be the first to take a tour when it is due for completion in August 2017, they believe the facility will forever change Albuquerque’s downtown skyline and will revitalize the whole area.
The R&D hub will facilitate education for entrepreneurs, provide lab facilities for state research universities and will reserve 2,000 square feet for the Air Force Research Laboratory to open a tech-transfer office.
It is already predicted that the University of New Mexico will intake 500 students into their own academy section of the R&D facility. This Academy will allow students to receive direct experience and real-world skills in entrepreneurship. The academy will consist of meeting areas, classrooms, individual working spaces and a state-of-the-art visualization room.
Academy Director, Robert DelCampo, describes the R&D hub as a one-stop shop, as students will live upstairs in trendy apartments, work on new technology and business ideas downstairs, and then walk to the Supporting Technology Transfer Center next door to get help taking their developments to the market.
While building such an innovation facility may be a huge investment, New Mexico state board strongly supports encouraging the future of its current and upcoming generations. Innovation is the future, without innovation, fresh ideas cannot be developed, resulting in the demise of projects and organizations.
The people of Albuquerque identified the need to significantly invest in the future of its entrepreneurs, business owners and organizations, by building this R&D facility, and are highly optimistic about the positive future outcomes resulting from it.
If you are an entrepreneur, business owner or are simply wanting to know more about R&D and how you may be eligible for the R&D Tax credit, contact a Swanson Reed specialist today.