The Sandia Science & Technology Park (SS&TP) was conceived as a partnership between Sandia National Laboratories (SNL) and public and private partners.
The SS&TP has successfully met the need for technology transfer, increased need for business space near SNL for current and potential industry partners, and added desirable jobs to a state, city, and neighborhood where high-paying jobs were sorely lacking. By working with the city of Albuquerque and the state of New Mexico, SNL was able to realize its vision for the creation of a high technology community that continues to grow and thrive.
Since its inception, 31 companies/organizations have moved into the 340-acre SS&TP, with more than 2,200 employees in 20 buildings. Over the years, the SS&TP has steadily grown in international stature and was recognized by the Association of University Research Parks as the 2008 Outstanding Research Park of the Year.
Over the years, the SS&TP has steadily grown in international stature and was recognized by the Association of University Research Parks as the 2008 Outstanding Research Park of the Year.
EMCORE was the first company to move into the Park. They have licensed solar cell and transponder technologies from SNL, received industrial revenue bonds from the city to build in the Park, and utilized state job training incentive funds to train employees. A publicly traded company, EMCORE has relocated its corporate headquarters to the SS&TP from out-of-state, and is a thriving company with 400+ employees working in the Park.
The city of Albuquerque and state of New Mexico have seen the positive economic impact the SS&TP has had bringing in successful companies and jobs to the area. To date, there have been 2,284 direct jobs created by entities in the Park, plus 5,441 indirect jobs created, for a total of 7,725 jobs. The cumulative impact on gross receipts tax revenue for the state was $57,519,508 and for the city $8,231,707. Jobs in the SS&TP are high paying, averaging $71,612 compared to the city average of $39,342. Another impact due to the success of the SS&TP is that new investment has been brought into New Mexico. Just recently, Raytheon, a Fortune 200 company, and Air Products, a Fortune 300 company, have acquired businesses located in the Park.