GGEDC receives $25,000 grant from New Mexico Gas Company
Monday, January 29, 2018
GGEDC receives $25,000 grant from New Mexico Gas Company Funds to support economic development initiatives in McKinley County
Gallup, NM – Greater Gallup Economic Development Corporation is pleased to announce it has received a $25,000 grant from the New Mexico Gas Company. These funds will support efforts to grow the manufacturing and logistics sectors in McKinley County by obtaining a Foreign Trade Zone designation. The award is for one-year.
New Mexico Gas Company President Ryan Shell stated, “We are proud to support the Greater Gallup Economic Development Corporation. In selecting the statewide recipients of contributions from the Emera fund, our objective has been to identify organizations that are well positioned to stimulate business growth, job creation and economic opportunities. We are excited to see what GGEDC will accomplish using these funds.”
“This marks the second year in a row the GGEDC has successfully partnered with New Mexico Gas Company to advance economic development in McKinley County, and we are very thankful for their support.” said Executive Director Patty Lundstrom. “Leveraging additional resources for economic development by cultivating strategic partnerships is part of the mission for GGEDC.”
GGEDC confidence in the economic opportunities available for the manufacturing and logistics sector for McKinley County is based on the availability of existing transportation assets including Interstate 40 and the BNSF Trancon line and proximity to major population centers in the western United States. The recent $78 million investment to complete improvements to US Hwy 491 and the development of the rail-served Gallup Energy Logistics Park complement existing infrastructure and further positions McKinley County to be a critical transit hub for regional and domestic commerce.
The grant award is part of a $5 million Economic Development Fund that New Mexico Gas Company and parent company Emera developed to invest and support the New Mexico communities and contribute to the overall economic growth in New Mexico. The Economic Development Fund is provided by Emera shareholders as a result of a stipulated agreement in 2016 with the New Mexico Public Regulation Commission.