Regulations and Government
Albuquerque OKs bonds, tax breaks for Eclipse
The City Council of Albuquerque, N.M., has approved a $45 million industrial revenue bond package to help Eclipse Aviation deliver on its Eclipse 500 very

The City Council of Albuquerque, N.M., has approved a $45 million industrial revenue bond package to help Eclipse Aviation deliver on its Eclipse 500 very light twinjet. The Associated Press reported that the deal will give Eclipse a property tax abatement worth more than $777,000 over 10 years.

Albuquerque Mayor Martin Chavez said, however, that the city would see a net gain in taxes of about $2.1 million over the same period, mostly from spending resulting from the creation of 300 jobs the company plans to add in the next three years.