Serving the High Plains
Serving the High Plains
The Greater Tucumcari Economic Development Corporation was one of 15 economic development organizations in New Mexico to receive a grant through Local Economic Assistance and Development Support, the state’s Economic Development Department announced last week.
Tucumcari EDC received $20,000 support its marketing program, including trade show and sales mission participation, according to a news release.
Patrick Vanderpool, executive director of the Tucumcari EDC, stated in an email Friday his office has added new partners in its efforts for business attraction and recruitment.
“We've partnered with Global Site Location Industries for lead generation and prospecting,” he wrote in an email. “Example: This next week we'll be talking with principals in Project Steel Housing, a manufacturer of metal components for prefab housing. We're able to do that by virtue of a LEADS grant from the FY20/21 year.”
Also, “funds from this year's LEADS grant … will enable us to participate with the NM Partnership in their sales missions (suspended last year due to the pandemic), make direct visits with site location consultants and participate in select trade shows, some of which will be shows at which the NM Partnership will be exhibiting. The funds will be used to offset costs related to those activities.”
Third, “we'll also be advertising in the print and digital editions of Expansion Solutions, a site location trade journal with national distribution. Our target industries are agribusiness, renewable energy, light manufacturing, metal fabrication and outdoor equipment manufacturing,” Vanderpool wrote.
A total of $260,000 was awarded to 15 organizations.
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 had to meet three requirements:
• Be part of an economic development effort that includes 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 in communities that have passed the Local Economic Development Act.
EDD received a total of 27 applications with funding requests totaling $614,200.
Other grant recipients included organizations in Carlsbad Department of Development, Cibola Communities Economic Development Foundation, Clovis Industrial Development Corporation, City of Farmington, Greater Gallup Economic Development Corporation, Los Alamos MainStreet, Lovington Economic Development Corporation, MainStreet Truth or Consequences, Mesilla Valley Economic Development Alliance, Rio Arriba County, Rio Grande Community Development Corporation, Sandoval Economic Alliance, Santa Fe Business Incubator and WESST.
Grant recipients report the effects of their projects at the end of the fiscal year.