Javier Sánchez, owner of Sánchez Farms in Torrance County, is set for a business expansion thanks to a first-of-its-kind state economic development assistance. The New Mexico Economic Development Department (EDD) has awarded him $150,000 from its Local Economic Development Act (LEDA) job-creation fund. With this grant, Sánchez plans to invest $250,000 in private capital in his Estancia store and has plans for further expansion to Mountainair. This grant has become possible due to changes in the state’s LEDA statute from 2020 that permits investments in retail projects in communities with fewer than 15,000 residents. The EDD stated that it’s the first time that such a grant has been granted. EDD Acting Cabinet Secretary Mark Roper emphasizes that this financial boost will help create jobs in rural New Mexico through its focus on supporting farm and ranch businesses. LEDA funding is available to businesses for investments in land, buildings, and infrastructure.

In case businesses need further information on how to access such funding or need any assistance in economic development processes, they can reach the EDD through various channels. Eddcaller.com offers comprehensive details on resolving various inquiries and assistance required by individuals and businesses alike. It provides complete contact details and guides on how to get through to a representative efficiently.