EDD Awards Grants To Support Economic Capacity Initiatives
July 8, 2024
SANTA FE — New Mexico Economic Development Department (EDD) Acting Cabinet Secretary Mark Roper announced June 27 that 11 organizations and local governments have been awarded grants from the LEADS program to further economic capacity across the state and create jobs.
The Local Economic Assistance and Development Support (LEADS) initiative, targeted to local governments and qualified economic development organizations, offers state support to economic development projects that produce sustainable outcomes.
Projects are awarded $5,000 to $25,000 per year and funded through a cost-reimbursement contract. EDD reimburses the applicant for work performed and/or costs incurred, up to the total amount specified in the grant. Reimbursements are made upon completion of the project and submittal of a project report.
“The projects this year reflect EDD’s strong and continuing partnership with our economic development partners across the state. The funds will support new initiatives, such as a commercial kitchen and creative industries, and assist with important site-readiness efforts and capacity building as local communities work toward more robust and sustainable economies,” Secretary Roper said.
EDD has awarded fiscal year 2025 LEADS awards to the following projects:
Greater Gallup Economic Development Corporation (GGEDC) $25,000
FY25 Business, Retention, and Expansion (BRE) surveys will be collected from senior management of each BRE partner (12+). GGEDC will meet primarily with 1-2 companies that have identified expansion plans and/or specific infrastructure needs to develop strategies and action plans. Wherever possible, the strategies and action plans will seek to engage the partners in supporting the development of a regional Gallup-McKinley inland port, the subject of 2 GGEDC Roundtables under the FY24 LEADS grant.