Sandoval Economic Alliance gets $25,000 grant

The New Mexico Economic Development Department announced Thursday that 11 organizations and local governments have been awarded grants from the Local Economic Assistance and Development Support (LEADS) initiative.

The LEADS program aims to further economic capacity across the state and create jobs.The initiative is targeted to local governments and qualified economic development organizations and offers state support to economic development projects that produce sustainable outcomes.

The projects are awarded $5,000-$25,000 per year and are 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 submission 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,” EDD Acting Cabinet Secretary Mark Roper said.

One of the 11 projects awarded was Sandoval Economic Alliance, which received $25,000.

SEA's "Grow Your Own" initiative fosters a robust economic ecosystem in Sandoval County through three key programs:

• Business Retention/Expansion Program, which is focused on sustaining and expanding existing economic-base businesses, offering targeted assistance and access to resources. Other items reviewed include workforce, incentives and regulatory challenges.

• Micro-Economic Gardening Program which supports entrepreneurs and small businesses with a focus on SEA’s targeted industry categories.

• Manufacturing Local Connections Program which provides a mechanism for economic-base businesses to connect and discuss common challenges, best practices, and available programs that can assist in their operations.

These efforts enhance collaboration, knowledge sharing and access to critical resources. SEA also plans to acquire a custom database to maintain and report on program activities and outcomes. This database will track economic development project information and provide the ability to quickly generate activity reports.