Economic Development Retention and Revitalization Grant

Overview

_NOTE: First-round applications were due January 10th, 2025.  Applications will be reviewed for potential awards.  The application will remain open.  A second review process could be announced at a later date depending on applications completed._**
Economic Development Retention and Revitalization Grant
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The purpose of this grant is to support private businesses, projects and organizations that make or will make a measurable difference in achieving economic growth and development, expanding and diversifying the tax base, and creating new quality jobs within Doña Ana, Luna, and Otero Counties-with the possibility of expanding throughout New Mexico, if the need arrives. New businesses, the expansion of existing businesses, and individual entrepreneurs can be considered.

Small businesses could be defined as businesses with less than 50 staff members. These funds could assist the following:

* Fund small businesses and entrepreneurs that would like to open a business but were unable to over the past two and half years due to the pandemic.
* Fund small businesses and entrepreneurs that have been negatively impacted by the pandemic and have lost staff, market share and had to close pieces of their businesses.
* Fund small businesses and entrepreneurs that would like to expand staff and focus on getting individuals back to work.
* Fund nonprofit organizations that assist with entrepreneurial education, business development and developing thriving families in southern New Mexico.

Eligibility

_You can learn more about this opportunity by visiting the funder's website._

* Projects Must:
* Show a clear demonstration of public purpose and economic benefit through advancement of the region’s economic goals which include.
* expanding the tax base, creating quality economic-based jobs, increasing private capital investment in the community, and spurring development.
* Include solid evidence provided by the business that demonstrates the business’s financial stability and capacity to complete the project
* Be in compliance with all local, state and federal laws.
* Description of Economic-Based Industry/Jobs, which applicants must demonstrate their ability to create:
* Economic growth and prosperity within Doña Ana, Luna, Otero and Sierra counties depends on sectors that export goods and/or services to customers outside of the region. These sectors are known as “economic-based industries/jobs”. These economic-based industries stimulate local economic growth by bringing jobs and income into the Doña Ana, Luna, Otero and Sierra counties economy.