New Mexico Economic Development Department (NMEDD)
06/22/17 5:00 PM Receipt
Grants ranging from $5,000 to $15,000 to New Mexico municipalities, counties, tribal agencies, and nonprofit economic development organizations to promote job creation throughout the state. Applicants must consult with and receive authorization from the appropriate funding source representative prior to applying.
Through the Local Economic Assistance and Development Support program (LEADS), the New Mexico Economic Development Department (NMEDD) encourages and supports New Mexico communities in their efforts to create new jobs. The program emphasizes the importance of recruitment, as well as retention/expansion and start-up activities. The initiative recognizes that the character and needs of each community will determine how these activities might be used to create new jobs.
The funding provided through LEADS is intended to create jobs, develop the tax base, and provide incentives for business development. Every LEADS application will be evaluated based on these objectives
Recruitment, retention and expansion, or creation of jobs in economic-base businesses:
An economic-base business is one that manufactures a product in New Mexico (example: manufacture wire harnesses in New Mexico for sale in California). A business that provides a non-retail service with a minimum of 50% of its revenue coming from a customer base outside of New Mexico is also included (example: payroll company in New Mexico providing services to clients throughout the USA).
Economic base businesses bringing new money into the local economy from outside of the area - generally considered to be out of state. In rural communities that have included retail activity in their economic development plan, retail may be considered as an economic-base activity in that it brings new money into the community or that it prevents leakage outside of the area. (example: tourist targeted shops on Main Street in a small village bring new money into the community).
Develop the tax base:
More jobs in a community leads to more revenue for the community as employees spend money in local businesses. The businesses and the employees pay property and sales taxes. This will result in more money to enhance government-funded community services that contribute to the quality of life — everything from libraries to roads.
Developing the tax base does not require increasing taxes. On the contrary, developing the tax base is about creating more assets on the tax rolls (e.g., new or improved business properties, more properties generating tax revenue) to spread the cost of operations across more entities.
Encourage Business Development:
Most jobs and investment come from expanding an existing business but every business starts small - sometimes as just one person with an idea. Business growth involves providing advice, support and resources to enable new businesses to start up; small businesses to grow; medium businesses to expand; large businesses to diversify; and all businesses to succeed. Incubators, business accelerators, and shared work spaces help business get off the ground. Programs that provide network development, technology assistance, training and marketing are used to encourage business development.
Regional Representatives will work with entities that are awarded grant funds to assist in implementation of the project and with entities that are not awarded funding to identify alternative funding sources to move projects forward.
-Achieve specific economic development objectives of job creation, expansion of tax base, and/or business development through measureable outcomes.
-Are consistent with the community’s adopted economic development plan and with its economic development strategic plan and/or marketing plans.
-Have a clear beginning and end.
-Have an appropriate budget and timeline.
All projects must address one of the core economic development areas of: Attraction; Retention; Real Estate; Technology and Entrepreneurial Development; or Workforce Development.
Example projects may include (subject to project scope and outcome):
-Sales mission or trade show
-Outcomes - New business location, job creation, expansion of tax base
-Measures - Leads generated, site visits, locations, jobs created, private investment
-Outcomes - existing business development, job creation, expansion of tax base
-Measures - Visits, issues addressed, jobs retained, private investment, business expansions
-Industrial Park site design, permitting, development
-Outcomes - expansion of tax base, job creation, business development
-Measures - inquiries, site visits, private investment, jobs created, businesses established
Technology / Entrepreneurial / Startup Development:
-Incubator, accelerator, shared space, commercial kitchen
-Outcomes - business development, job creation, expansion of tax base
-Measures - Participants, businesses launched, private investment, jobs created
-Skill development sessions
-Outcomes - job creation, expansion of tax base, business development
-Measures - Participants, interviews scheduled, number of hires, payroll generated
GrantWatch ID#: 171459
Projects may be awarded $5,000 to $15,000 per year.
Selected projects may begin as soon as the contract is fully executed and must be completed by May 31, 2018.
Entities that may apply to participate in LEADS:
-Are part of an economic development effort that includes both public and private participation and can demonstrate their capacity to facilitate economic growth.
-Have an up to date community economic development plan and a marketing plan that supports business development and job growth.
-The Local Economic Development Act, and, ideally, a Local Option Gross Receipts tax for economic development or other economic development financing tools have been adopted in your service area.
Organizational status of applicants:
-Incorporated municipalities and counties, to include Native American tribal entities, are eligible to apply for LEADS.
-Community stakeholder organizations may apply for LEADS if the organization is physically located, operates, and is incorporated under the New Mexico Not-for- Profit Corporation Law and has been providing relevant economic development service to the community for at least one year prior to application. (i.e. Economic Development Organization, Chamber of Commerce, workforce organization, or business association.)
-All applicants must be auditable and eligible to receive state funding.
Applicants having been awarded LEADS funds will not be eligible to reapply until they have successfully completed and implemented the project funded by previous awards. A phased Project may apply for funding for multiple phases but only when each distinct phase is completed.
Ineligible costs: Printed collateral materials, Website development or maintenance, Professional Development, Advertising, Projects designed to use Solowork Pilot Program, these programs will be funded through the Solowork Program Fund.
Communities and nonprofit organizations interested in applying for LEADS funding must contact the Community, Business and Rural Development Team and schedule a pre-application meeting with your Regional Representative to review the process and discuss the proposed project.
Applications will only be accepted from applicants who have received preauthorization from a NMEDD representative. Authorization will be delivered electronically to applicants.
Applications must be received by the NMEDD Regional Representative no later than June 22, 2017 by 5:00 PM.
Funding is awarded through a cost reimbursement contract. Reimbursement will be made only upon completion of the project and submittal of a project report.
-Applications are due to the Economic Development Department Regional Representative no later than by 5:00 PM.
-Project presentations will be July 11 & July 12.
-Applicants will be notified of selection no later than July 18, 2017
-Grant contracts will be negotiated, executed by applicant, and returned to NMEDD no later than August 11, 2017.
-Selected projects may begin as soon as contract is fully executed and must be completed by May 31, 2018.
-Project final report must be submitted to NMEDD no later than May 31, 2018.
-Last day to request reimbursement is June 15, 2018
Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.
Contact information for the Regional Representatives can be found at:
Therese Varela, Director, Economic Development Department
New Mexico Economic Development Department
Joseph M. Montoya Building
1100 S. St. Francis Drive
Santa Fe, NM 87505-4147
P.O. Box 20003
Santa Fe, NM 87504-5003
USA: New Mexico