EDA: $2 Million in CARES Act Recovery Assistance Invested to Support Transportation, Business Development and Tourism in Taos, NM

Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2 million CARES Act Recovery Assistance grant to the town of Taos, New Mexico, to build critical infrastructure to support the Taos Regional Airport and an adjacent business park. This EDA grant, to be matched with $500,000 in local funds, is expected to generate $11 million in private investment.

“President Biden is committed to harnessing the full power of the federal government to ensure our nation not only recovers from this pandemic but builds back stronger,” said Secretary of Commerce Gina M. Raimondo. “This EDA investment in the town of Taos will provide critical infrastructure to support regional transportation and business development and revitalize the local tourism industry, creating a more diverse regional economy.”

“The Economic Development Administration plays an important role in supporting community-led economic development strategies designed to boost coronavirus recovery and response efforts,” said Jorge Ayala, Director of EDA’s Austin Regional Office. “This EDA investment will build new commercial water and wastewater infrastructure at the Taos Regional Airport and the adjacent Business Industrial Park, attracting new businesses and jobs to the region.”

“This critical infrastructure investment in the town of Taos will have a significant economic and business development impact on the north-central region of our state,” said Governor Michelle Lujan Grisham. “Outdoor enthusiasts from all across the globe come to Northern New Mexico for glorious green summers and world-class skiing and snowboarding – this federal partnership will make sure Taos and the region have the opportunity to build back even better as we recover from the pandemic.”

“Supporting tourism in northern New Mexico will directly benefit the local economy,” said Senator Martin Heinrich. “This funding will be essential to bringing in new businesses, creating new local job opportunities, and driving tourism to the town of Taos and surrounding communities. I’m pleased to welcome this investment that will help spur our state’s economic recovery from this crisis.”

“As New Mexicans recover and rebuild from the COVID-19 pandemic, bold investments in our state’s infrastructure will bolster our economic recovery and create new jobs and opportunities,” said Senator Ben Ray Luján. “I’m glad this important funding will support Taos in beginning critical infrastructure projects that will improve regional transportation and energize our local tourism economy.

“As we build back from the pandemic, it’s critical that our cities and towns have the resources they need to thrive. I welcome the $2 million in CARES Act Recovery Assistance grant to support the Taos Regional Airport and business park in building critical water and wastewater infrastructure,” said Congresswoman Teresa Leger Fernández (NM-03). “This investment will mean more business for the area and more jobs available for the community. I look forward to continued funding in my district and seeing the positive impacts it will have for generations to come.”

This project was made possible by the regional planning efforts led by the North Central New Mexico Economic Development District (NCNMEDD). EDA funds NCNMEDD to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment and create jobs.

This project is funded under the Coronavirus Aid, Relief, and Economic Security (CARES) Act (Public Law 116-136 PDF), which provided EDA with $1.5 billion for economic assistance programs to help communities prevent, prepare for, and respond to coronavirus. EDA CARES Act Recovery Assistance, which is being administered under the authority of the bureau’s flexible Economic Adjustment Assistance (EAA) (PDF) program, provides a wide-range of financial assistance to eligible communities and regions as they respond to and recover from the impacts of the coronavirus pandemic.

About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation’s regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.

Leave A Comment?

You must be logged in to post a comment.