New Mexico Economic Development Department (NMEDD)
06/04/21 5:00 PM
Grants of up to $25,000 to New Mexico nonprofit organizations, tribal entities, and government agencies for business and economic development projects. Applicants must contact the funding source and attend a conference prior to submitting an application. Funding is intended to support projects that develop the tax base, encourage business development, and retain or expand the number of jobs in economic-base businesses.
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 wealth in New Mexico through job creation, development of the tax base, and to 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.
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.
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.
For more information on eligible projects, see the following link: https://gonm.biz/uploads/documents/LEADS_Manual_FY2022.pdf#page=4
GrantWatch ID#: 171459
Projects may be awarded up to $25,000 per year.
Projects must be completed by June 17, 2022.
Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.
The link to the online application for Local Economic Assistance and Development Support will be delivered electronically to applicants after the pre-application meeting and webinar have occurred.
Contact information for the Regional Representatives may be found here: https://gonm.biz/community-development
Economic Development Department
Joseph M. Montoya Building
1100 S. St. Francis Drive
Santa Fe, NM 87505-4147
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