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In its first year, the New Mexico Economic Development Fund (NMEDF) awarded $300,000 to the Mesilla Valley Economic Development Alliance (MVEDA) and The Borderplex Alliance, two regional economic development organizations, the Community Foundation of Southern New Mexico (CFSNM) said in a news release.
The fund, which is managed by 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 “that make or will make a measurable difference in achieving economic growth and development, expanding and diversifying the tax base, creating new quality jobs, and increasing the economic base within EPE’s New Mexico service territory,” the news release said.
“Our community is very fortunate to have this fund and we believe that it will not only stimulate growth in economic-based jobs but facilitate stronger collaboration among key stakeholders who are passionate about economic development in our region,” said fund advisors Ed Camden, John Hummer and Jerean Camuñez Hutchinson.
Applications are now being accepted by NMEDF for its next review of submissions. An informational meeting will be held via Zoom at 9 a.m. Tuesday, Aug. 24. For a link to the meeting, visit www.communityfoundationofsouthernnewmexico.com/grants-scholarships/apply-for-nm-economic-development.
For more information, contact CFSNM at 575-521-4794.