|Program||# of Grants||EDA Funds|
|Economic Adjustment Assistance||1||$406,019|
During Fiscal Year 2013, EDA invested $1,718,609 in 10 projects in the State of New Mexico.
EDA’s investments help New Mexico communities achieve bottom-up, locally-defined economic development goals and strategies.
EDA offers a complementary, balanced portfolio of grant programs designed to help rural and urban communities grow their private sectors and create jobs.
Investment Spotlight: Innovate ABQ Innovation District
Across the country, the development of innovation districts is revolutionizing traditional economic development models. These innovation hubs are designed to attract and connect entrepreneurs and established companies to the new technologies developed at research universities, providing a central location where researchers and entrepreneurs can work in tandem to commercialize new discoveries and create new businesses.
In 2013, EDA invested $1.5 million to fund the acquisition of property to build a new Innovation Center between downtown Albuquerque and the University of New Mexico. This project is the first piece in the Innovate ABQ, a collaborative initiative that brings together the research powers of the state’s flagship university and Albuquerque’s entrepreneurial and established business community.
This project will serve as the launching pad for a larger and longer-term development of a research district that will enable technology commercialization and business development, as well as attract out-of-state businesses and entrepreneurs to the research facility.