June 25, 2024

EDA: $3.2 Million Invested to Support Business and Job Growth in New Mexico

Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is investing $3.2 million in the state of New Mexico to support business and job growth.

The EDA investments announced today are:

“President Biden’s Investing in America agenda is a commitment to ensuring communities in New Mexico and across the country have the resources needed to grow strong, resilient regional economies,” said Secretary of Commerce Gina Raimondo. “These EDA investments will grow economic opportunity for New Mexicans by creating jobs and improving infrastructure in communities across the state.”

“The Economic Development Administration works closely with local communities to support place-based economic growth,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “These investments in Jemez Springs and San Miguel County will strengthen the regional economy and create new job opportunities for residents.”

“The investment from the EDA is a game-changer for rural New Mexico,” said Governor Michelle Lujan Grisham. “These projects in Jemez Springs and San Miguel County will support our infrastructure and local businesses, fostering an environment where our communities can thrive and grow.”

“Investing in the success of Northern New Mexico small businesses is crucial to the continuing economic recovery from the Hermit’s Peak-Calf Canyon and Cerro Pelado Fires,” said Senator Martin Heinrich. “I am committed to delivering federal support to New Mexicans to respond to both immediate emergency needs during fires and floods, and throughout the long recovery work that follows.”

“Thanks to these investments that I was proud to support, the Village of Jemez Springs will receive funding needed to improve wastewater infrastructure for local businesses while creating more jobs in the process. San Miguel County will also receive $1 million to support wood production and processing at the SMC Wood Park ensuring the local communities have access to this sustainable resource. These investments are a win for New Mexico and I look forward to seeing how these investments help support local economic opportunities,” said Senator Ben Ray Luján.

“Change happens when every level of government works together. That’s why my congressional colleagues and I voted to fund these grants for Jemez Springs and San Miguel County. These funds will improve water infrastructure, support local businesses, and create good-paying jobs,” said Representative Teresa Leger Fernández (NM-03).  “I am happy our beloved communities continue to benefit from the Biden-Harris Administration’s commitment to local economies.”

This project is funded under the Disaster Relief Supplemental Appropriations Act, 2023, which provided EDA with $483 million in additional Economic Adjustment Assistance (EAA) Program funds for disaster relief and recovery for areas that received a major disaster declaration under the Robert T. Stafford Act as a result of Hurricanes Ian and Fiona, wildfires, flooding, and other natural disasters occurring in calendar years 2021 and 2022. Please visit EDA’s Disaster Supplemental webpage for more information.

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.

This post was originally published here.