Newsweek Named ‘Top 100 Thinker Of Our Time’ SavantX CEO Ed Heinbockel Brings Research Center To Santa Fe – Los Alamos Daily Post

SavantX Inc. has chosen Santa Fe for its corporate research headquarters.Courtesy/EDD

BUSINESS News:

SANTA FE New Mexico Economic Development Department Cabinet Secretary Alicia J. Keyes announced today that a company at the leading edge of quantum computing is relocating some operations to Santa Fe and plans to hire more than 100 employees.

SavantX CEO Ed Heinbockel

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, Wyo.

The need to diversify our economy has never been clearer, and its 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. Its 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 also has 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. in Santa Fe and expects to hire new local employees by the end of July. Positions are listed on the Indeed website. CEO Ed Heinbockel hopes to eventually move to Santa Fe, and six other employees also are planning to move to Santa Fe in 2020. Research efforts will require the hiring of 116 employees over the next 10 years.

The average salary for the jobs will be more than $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 Feand an entrepreneur myselfI 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 Mexicos 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.

Read more from the original source:

Newsweek Named 'Top 100 Thinker Of Our Time' SavantX CEO Ed Heinbockel Brings Research Center To Santa Fe - Los Alamos Daily Post