Had Promised The State Jobs At The Titan Aerospace Facility

While it will likely not be any particular financial hardship, Google, which this week stood up an umbrella company called "Alphabet", will repay the state of New Mexico $995,000 in incentives it had received for infrastructure improvements at Titan Aerospace.

Google bought Titan, which manufactures a high-altitude solar-powered UAV, as part of its plan to use the aircraft to relay Internet connectivity to underserved areas. At the time, they had promised remain at Moriarty Airport and create dozens of high-paying jobs. Last week, Google said it would move the company to the San Francisco Bay area to be closer to its main campus.

Television station KOB reports that the New Mexico Economic Development Department expects that it will be repaid in a "reasonable" amount of time.

Google spent $15 million to build a manufacturing facility at Moriarty airport, and that will remain. However, the state included a "claw back" provision in its incentive grant that the Internet giant will now have to repay.

New Mexico officials are now working to secure a new tenant or tenants for the facility Google built at the airport.

FMI: www.cityofmoriarty.org/index.php?page=airport-advisory