RIO RANCHO, N.M. — Hewlett-Packard Co. (HP) has broken ground for the construction of its new technology and customer service facility in Rio Rancho. The three-story building will offer 218,000 square feet of space and employ at least 1,350 full-time employees by the end of 2012. The city of Rio Rancho has leased 17 acres to HP for 50 years for the property. The $63 million project is being development by Titan Development. Reid & Associates Design Builders are serving as general contractor for the project. The Rio Rancho City Council approved a $5.2 million bond to facilitate public infrastructure improvements at the site, such as roads, water and wastewater. The land and building revert to city ownership at the end of the land lease, which includes a sale-leaseback option.
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