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RIEtech Global had reached a transitional stage with its high-precision motion control products when the Albuquerque company was chosen in 2012 to participate in a pilot program designed to help successful companies expand their reach and refine their business models for the next stage of growth.
The pilot program, called Economic Gardening and sponsored by the Association of Commerce and Industry, PNM and Lovelace Health System, was created by Chris Gibbons in Littleton, Colo. The Edward Lowe Foundation scaled the program to be applied nationally. The program takes an intensive, interventionist approach to economic development by helping second-stage growth companies enhance job and revenue growth. This is different than focusing on startups or recruiting outside businesses.
Fast growth, big decisions
In 2009, Air Force veteran Rich Engstrom and his wife and business partner, Iona, acquired Sagebrush Technology. Sagebrush was a maker of pivoted support mechanisms called gimbals that allow cameras, lasers and other sensitive equipment to swivel in multiple directions. Gimbals have various uses, including in manned and unmanned surveillance and weapons systems.
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