ALBUQUERQUE, N.M. — The Bernalillo County Commission on April 26 voted unanimously to approve an $80 million industrial revenue bond package that will allow Minneapolis-based General Mills, Inc. to expand and buy new equipment to make breakfast cereal and snack bars at its Albuquerque facility. The project will create 30 permanent jobs, retain 30 existing jobs and create 150 temporary construction jobs during the expansion.
The commission said taxpayers will not finance the bonds, which will come from the private sector. The industrial revenue bonds approved by the commission allow the company some tax incentives.
“Bernalillo County is incredibly proud to support a strong corporate partner like General Mills as we work together to create more jobs in our community,” said Lonnie C. Talbert, commissioner of the Bernalillo County Commission. “I also want to thank my colleagues on the County Commission for their work to improve the economy in Central New Mexico. Together we’ve supported dozens of projects resulting in nearly 2,500 jobs and more than $500 million in new private investment.”
General Mills opened the Albuquerque facility in 1991. It has undergone two expansions over the past 25 years, including a $100 million expansion in 2008 that boosted the company’s ability to produce snack foods, such as granola bars, fiber bars and fruit snacks.
