The New Mexico Economic Development Fund (NMEDF or Fund), in its inaugural year, announces the first recipients of its 2021 grant cycle with awards totaling $300,000 to Mesilla Valley Economic Development Alliance (MVEDA) and The Borderplex Alliance, two regional economic development organizations.
The Fund, managed by the Community Foundation of Southern New Mexico (CFSNM), was established by El Paso Electric (EPE) to provide $1 million per year for 20 years in support of private businesses, projects and organizations based within EPE’s New Mexico service area.
‘Economic development is a team effort in New Mexico. This investment by El Paso Electric in Southern New Mexico shows the utility is a great partner in helping to diversify the economy and create good jobs,’ said Gov. Michelle Lujan Grisham.
‘The collaboration and partnership of the Fund’s advisors and community partners, shows the region’s dedication to grow the local economy together, a vision shared between EPE and IIF,’ said President and CEO, Kelly A. Tomblin.
Over 15 grant applications to the Fund were received from the Doña Ana County area during the first grant cycle and the NMEDF is currently accepting applications for its next review of submissions. Interested applicants should contact the CFSNM or the Mesilla Valley Economic Development Alliance (MVEDA) who will serve to evaluate and recommend awards to the Fund advisors.
‘We are honored that MVEDA has been chosen as a recipient of this award and for the confidence the selection committee has placed into our ability to create positive economic development impact,’ said CEO & President of MVEDA Davin Lopez. ‘We believe our more than 20-year mission, focused specifically on economic-based job creation, uniquely positions us to strategically leverage this opportunity to enhance job creation opportunities across southern New Mexico.’
The next public meeting held by the Fund’s Advisors will be on August 24, 2021, at 9:00am MST via Zoom. The link to the meeting and more information on the NMED grant is available on the CFSNM’s website. Interested applicants can attend to learn more about the process, discuss their project application, or ask questions.
