Fast-growing Albuquerque engineering firm Verus Research is expanding again with a new research facility in the Northeast Heights.
Situated in a former big-box store, the 41,0000-square-foot research and office space will serve as the testing ground for various types of technologies, including electromagnetic systems, sensors, instrumentation and applied electronics. About 30 current workers will occupy the space initially, and the company expects to hire about 10 salaried positions in the coming months. Open positions include supply chain manager, business intelligence engineer and electronic warfare director.
“Verus Research was founded in 2014 and it has always been our goal to remain in Albuquerque and support the community where our employees live, work and play, through growth and recruitment, new job opportunities, and economic development for the city and state," said Chief Financial Officer Hank Andrews in a prepared statement. The company works to implement scientific and engineering solutions, with expertise in the areas of laser system modeling and electromagnetic and microwave systems, according to its website.
“Our expansion will provide room for offices, team collaboration centers, testing facilities, equipment and product storage, large open laboratories and 10 program-specific laboratory stations all under one roof," Andrews added. The company previously planned to expand at its Uptown headquarters, Business First reported last year, and will maintain its presence there moving forward. The company employs 105 in total, with all but a few in Albuquerque.
Verus Research will move into its newly leased space at 45 Hotel Circle NE in August. The deal was signed last month, according to the company. Commercial real estate firm RESOLUT RE represented Verus and Art Gardenswartz, the owner of the building, in the transaction, according to RESOLUT broker Robert Powell. Design Plus, an Albuquerque architectural design firm, is also working on the project.
Verus says it works with a variety of clients including Sandia National Laboratories and the Air Force, plus a host of other businesses. In September, the company received a $23.4 million award with the Army, according to an Order for Supplies or Services obtained by Business First. The contract award, which came as part of a $48 million contract, was one of Verus' largest ever, Business First reported.
Between 2017 and 2019, Verus posted revenue growth of 59%, per our List of New Mexico's Fastest-Growing Companies for the large category. And during the past year, the company, which has also gone by the name XL Scientific, has been awarded more than $25 million from the government, according to government data.
