Internet provider Vexus Fiber, based in Lubbock, Texas, plans to add more than 100 permanent jobs and an Albuquerque office as it moves into the local market.
The company will invest a total of $250 million into network infrastructure serving the city of Albuquerque, though other communities are also in consideration, president and CEO Jim Gleason told Business First. The Vexus network will support 10-gigabit speeds and service will be made available to residential and business customers.
Vexus has yet to determine where its local headquarters will be but will begin looking for space in the next two to three months, Gleason said. The company will begin local operations with a coordinator and regional vice president of operations before eventually growing out a customer service operation locally.
In total, 150 permanent jobs will be created with an office and storefront, according to an Oct. 28 release from the company.
The network is expected to be completed by 2024, though it will be brought online in stages so that some areas will be able to get service starting in 2022, the release said. Engineering for the new network will begin quickly while construction is slated to begin early next year.
Vexus targets mid-tier markets such as Albuquerque, San Angelo, Texas, and other cities. It has installed broadband fiber networks in more than 35 cities in Texas and Louisiana, according to the release.
“Medium-size cities are really being overlooked," Gleason said. "We find it to be a nice niche for us."
Vexus is backed by investment groups Pamlico Capital in Charlotte, North Carolina, and Oak Hill Capital Partners, located in Connecticut, New York and California. Vexus, formerly called NTS Communications, was previously acquired by Vast Broadband, which announced the close of the deal in Sept. 2019.
Oak Hill Capital Partners and Pamlico Capital led a recapitalization of Vast Broadband and NTS, according to the Vast announcement.
