News Release
For Immediate Release
Contact: Anne Monson, APR, 505-244-8479 Melanie J. Majors, APR, 505-266-5637
MESA DEL SOL WELCOMES MOLINA HEALTHCARE
Albuquerque, NM – August 21, 2008 – Mesa del Sol officials welcomed Molina Healthcare to Innovation Park with a groundbreaking ceremony today held for the company’s 25,000 square-foot IT Center. The IT Center is being relocated from the company’s headquarters in Long Beach, California. The ceremony marked the beginning of construction of the company’s new building, which joins Advent Solar, SCHOTT Solar, Fidelity Investments and ABQ Studios at Mesa del Sol.
“Molina Healthcare’s move to Innovation Park is an indicator to us and to others that Mesa del Sol is making good on its promise to bring jobs to New Mexico,” said Harry Relkin, vice president of Mesa del Sol. “Healthcare occupations is one of the fastest-growing industries in New Mexico, and we are excited that Molina shares our ideas for a community where employees can live, learn, work and play.”
Relkin said the Molina facility will be built using local contractors, creating new jobs and generating new tax revenue for the city and the state.
Ann O. Wehr, M.D., president of Molina Healthcare of New Mexico, told those gathered at the site that Molina looked at several communities before deciding on Albuquerque for its IT Center.
“We were familiar with the community in New Mexico because we have operated a health plan in the state since 2004,” she said. “What attracted us was the low risk environment for our IT operations, affordable, quality housing for our employees and the available labor pool.”
Albuquerque Mayor Martin Chavez joined Relkin in welcoming Molina and said, “We are thrilled that Molina Healthcare has chosen Albuquerque for this venture. Molina is a valued community partner and they also have an unwavering mission and dedication to providing healthcare to low-income and underserved individuals and families, which benefits the state of New Mexico.”
"Molina Healthcare is a trusted and respected leader in the healthcare industry, and by investing in New Mexico and joining the Mesa del Sol family, Molina is vital to our efforts to create the Southwest's premier business community," said Dallas Rippy, assistant commissioner of Public Lands.
“It is truly exciting to see the addition of the Molina Data Center at Mesa del Sol,” said Secretary of Economic Development Fred Mondragon. “The development being done at Mesa del Sol is a wonderful example of economic development with a true conscious, and we look forward to seeing many more additions such as Molina in the future.”
More information and updates are available at www.mesadelsolnm.com
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About Mesa del Sol
Mesa del Sol is a 12,900-acre mixed-use district located on Albuquerque’s south mesa. By combining job creation and sustainable urban community planning, Mesa del Sol will reflect a balance of environmental resources, economic objectives and social amenities in a community that is forward-looking with a highly defined sense of place. www.mesadelsolnm.com
Mesa del Sol is a true public/private partnership. In addition to Forest City Covington, NM, LLC, Mesa del Sol is being developed in conjunction with other partners, including the New Mexico State Land Office, the University of New Mexico, with the support of the City of Albuquerque, Bernalillo County and the State of New Mexico.
About Forest City Covington
Forest City Covington NM, LLC is a joint venture between Forest City NM. LLC and Covington NM, LLC. Forest City NM, LLC is a subsidiary of Forest City Enterprises, Inc., a $10.5 billion NYSE-listed national real estate company. The Company is principally engaged in the ownership, development, management and acquisition of commercial and residential real estate and land throughout the United States. Covington NM, LLC is an affiliate company of Covington Capital Corporate, a major real estate development and investment company. Covington Capital and its affiliate companies currently own more than 9 million square feet of commercial/industrial space and are actively developing more than 17,000 acres of land in the western United States.
Safe Harbor Language
Statements made in this news release that state the Company’s or management's intentions, hopes, beliefs, expectations or predictions of the future are forward-looking statements. The Company's actual results could differ materially from those expressed or implied in such forward-looking statements due to various risks, uncertainties and other factors. Real estate development risks and factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, the inability to secure sufficient financing on favorable terms, construction risks, increases in commodity costs, the inability to obtain required governmental permits and authorizations, the inability to secure tenants or anchors for the project, the withdrawal of a prospective anchor or project partner, opposition from third parties, competition in the target market, economic conditions in the target market, the adverse impact of environmental matters, softening of the housing market, and other risk factors as disclosed from time to time in the Company’s SEC filings, including but not limited to, the Company’s annual and quarterly reports.