15 Organizations Receive Economic Development Grants
15 Jul 2021
State Funds Projects That Demonstrate Jobs Creation
SANTA FE, N.M. – Nearly $260,000 has been awarded to 15 local economic development organizations through LEADS, Local Economic Assistance & Development Support, the New Mexico Economic Development Department (EDD) announced today.
Grant amounts ranged from $7,400 to $25,000 and funding is provided on a cost reimbursement basis. Funding provided through LEADS is intended to create jobs through recruitment, retention, expansion, and startup activities; develop the tax base; and provide incentives for business development.
“LEADS is an important program because it allows us to invest in strong initiatives and collaborate with local communities as we work together to create jobs,” Economic Development Cabinet Secretary Alicia J. Keyes said. “The demand has grown for this program, and we appreciate the support from Gov. Michelle Lujan Grisham and legislative leaders which resulted in additional funding this year.”
Eligible applicants must meet three requirements:
- Be part of an economic development effort that includes both public and private sector participation, with a demonstrated capacity to facilitate economic growth.
- Have an up-to-date local economic development plan and marketing program that supports business and job growth.
- Be located in communities that have passed the Local Economic Development Act (LEDA).
EDD received a total of 27 applications with funding requests totaling $614,200.
The fiscal year 2022 recipients are:
Carlsbad Department of Development. $12,500 to participate in trade shows and sales missions with plans to target companies that produce hydrogen.
Cibola Communities Economic Development Foundation. $20,000 to attend and participate in trade shows and sales missions, undertake business retention and expansion activities, and provide technical assistance to local entrepreneurs.
Clovis Industrial Development Corporation. $12,500 for marketing activities targeting business recruitment.
City of Farmington. $25,000 for a pilot program which includes a riverfront real estate development with modular units to house local businesses selling their products. The units will be owned by the city.
Greater Gallup Economic Development Corporation. $25,000 to support participation in industry trade shows and sales missions; business, retention, and expansion program; and the organization’s annual Economic Roundtables.
Los Alamos MainStreet. $15,000 to pilot a retail business accelerator program.
Lovington Economic Development Corporation. $12,500 to attend and participate in trade shoes, create a strategic plan, including a solar project study for an industrial park, and support marketing activities.
Mainstreet Truth or Consequences. $7,400 to survey businesses that are new to the city, seeking a better understanding of their needs while connecting them to existing resources. The goal is a more profitable place to do business.
Mesilla Valley Economic Development Alliance. $20,000 to attend trade shows, participate in sales missions, and undertake more digital marketing.
Rio Arriba County. $15,000 for improvements to the Oñate Center for the purpose of housing two relocating businesses and to serve as a co-packing facility for local food producers and startups.
Rio Grande Community Development Corporation (RGCDC). $15,000 to pilot a program that is an expansion of the Mixing Bowl food business incubation program, supporting local food growing and production businesses. RGCDC manages the South Valley Economic Development Center and commercial kitchen.
Sandoval Economic Alliance. $20,000 for phase two of an economic gardening initiative which includes networking events, digital marketing assistance, and more.
Santa Fe Business Incubator. $15,000 for the next phase of a program, now in its third year, that provides essential training for business startups.
Tucumcari Economic Development Corporation. $20,000 will support its marketing program, including trade show and sales mission participation.
WESST. $25,000 leveraged with EDA grant funds to expand technical assistance and support for creative economy business development in Northern New Mexico to now include McKinley and San Juan Counties.
Grant recipients report the impacts of their projects at the end of the fiscal year.