Authentic Holdings Inc (AHRO)

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BELEN, N.M. —Gov. Susana Martinez and Global Fashion Technologies Inc. were met with thunderous applause in Belen on Tuesday after the textile recycling and production company announced it was setting up shop in New Mexico.

New Mexico battled several other states, including Texas, for the factory. Ultimately, Witthuhn says New Mexico offered a better package that included job training and tax credits.

They expect to open up in spring of 2015, and will begin hiring then as well.



The company will be taking over the old SOLO cup factory which was previously vacant. The company plans to throw $50 million in to the project that will create 300 new jobs.

Global Fashion Technologies Inc. takes scrap fabric from apparel manufacturers and deconstructs it into cleaner and stronger fiber before re-selling it. Most of those scrap fabrics either head to a landfill or an incinerator.

Tom Witthuhn, Global's CEO, said the factory is a huge win for the environment and for the city of Belen.

“This is a great community and one that can partner with to make an impact,” Witthuhn said.