|A company at the leading edge of quantum computing is relocating some operations to New Mexico, and plans to hire over 100 employees, Economic Development Department Cabinet Secretary Alicia J. Keyes announced today.
After considering locations in Utah, Idaho, Oregon, and California, SavantX Inc. has chosen Santa Fe for its corporate research headquarters. The operations, sales, and customer support arms of the business will remain in Jackson, WY.
“The need to diversify our economy has never been clearer, and it’s truly happening as more and more cutting-edge businesses like SavantX realize the advantages of locating in New Mexico,” Gov. Michelle Lujan Gisham said. “These are companies that will disrupt the status quo and reshape the future of commerce and industry for the whole country. It’s gratifying that New Mexicans will play a significant role in those changes.”
SavantX is using its expertise in artificial intelligence and machine learning to solve complex business problems at nuclear power plants, transportation hubs, and in health care. For example, the company is partnering with Fenix Marine Services at Pier 300 on the Port of Los Angeles to optimize logistics on the spacing and placement of shipping containers to better integrate with inbound trucks and freight trains. The results are expected to yield a 50 percent increase in efficiency.
SavantX has also deployed a no-cost AI-enabled web application to help medical and research professionals search and analyze COVID-19 datasets.
SavantX signed a lease for a building at 504 Jose St., Santa Fe, and expects to hire new local employees by the end of July. Current positions are listed on the Indeed website. CEO Ed Heinbockel hopes to eventually move to Santa Fe, and six other employees are also planning to move here in 2020. Research efforts will require the hiring of 116 employees over the next ten years.
The average salary for the jobs will be over $90,000 annually, with total compensation reaching $170,000 and a payroll of $109 million.
The New Mexico Economic Development Department has pledged $450,000 in economic assistance to the project from its LEDA closing fund and the City of Santa Fe has pledged $50,000.
“LEDA and other economic assistance is helping to bring SavantX and its world-class computing expertise to New Mexico. With that comes national recognition in a burgeoning high tech-sector, well-paying jobs, and better opportunities for our students to stay here and build a career,” Secretary Keyes said.
“As Mayor of Santa Fe—and an entrepreneur myself—I am delighted to welcome SavantX to our city,” Santa Fe Mayor Alan Webber said. “We are continuing to grow our technology community, see the digital ecosystem flourish, and attract talented, cutting-edge thinkers and do-ers. Welcome to SavantX!”
SavantX was founded by its Chief Executive Officer Ed Heinbockel, who holds an MBA and an engineering degree from Cal Poly, and Chief Science Officer David Ostby, a data scientist with a background in artificial intelligence. Both have experience with startup companies and Heinbockel was named as one of the “Top 100 Thinkers of Our Time” by Newsweek Magazine.
With its proximity to Los Alamos National Laboratory and Sandia National Labs, Santa Fe has unique advantages for SavantX.
“Santa Fe has a built-in workforce from the labs of people already doing quantum computing. In a lot of ways, Santa Fe is the nexus of this new computing,” Heinbockel said. “New Mexico’s assistance from LEDA and the Job Training Incentive Program comes at a time when there is more economic uncertainty. Knowing the incentives are in place was a major factor in bringing SavantX operations to New Mexico.”