By Kevin Hendricks, The Paper.
Project Ranger, Castelion’s hypersonic missile manufacturing campus in Sandoval County, was named 2026 Collaborative Impact Project of the Year at the New Mexico IDEA Economic Development Excellence Awards, held during the Governor’s Conference on Economic Development at Isleta Resort & Casino last week.
The award recognizes the 1,000-acre campus as one of the state’s most significant recent economic wins. Castelion plans to invest more than $220 million, create over 300 high-paying manufacturing jobs and generate an estimated $650 million in economic output for New Mexico over the next decade.
“Project Ranger demonstrates what is possible when regional collaboration, local leadership and a nationally significant opportunity come together,” said Chad Matheson, president and CEO of the Albuquerque Regional Economic Alliance.
Photo by Roberto E. Rosales for the Paper Credit: The Paper
Sandoval County Manager Wayne Johnson credited the county’s urgency in landing the deal. “Sandoval County approached this opportunity with urgency, creativity and a commitment to being a true partner,” Johnson said. “This recognition affirms that rural communities can successfully compete for sophisticated, high-value projects when they are prepared to move decisively.”
From site search to production ramp
Castelion broke ground on the site west of Rio Rancho in January, following a nationwide search and months of community debate over safety, noise and environmental impacts from the solid rocket motor manufacturing planned there. The company has said federal setback requirements and safety measures address concerns raised by nearby residents, including those in the Northern Meadows neighborhood roughly three miles from the site.
The campus has since drawn major financial backing. Castelion closed a $1 billion funding round in August — $800 million in equity and a $250 million credit facility — valuing the company at $13 billion. That funding is intended to accelerate production capacity at Project Ranger. The same month, the Defense Department reached a framework deal guaranteeing at least 500 Blackbeard missiles a year once testing is complete, with the Pentagon seeking funding to buy more than 12,000 over five years. Fielding is targeted for 2027.