Local Economic Development Act
LEDA provides discretionary closing-fund assistance for qualified economic development projects that create jobs and investment in New Mexico.
About this program
The Local Economic Development Act is New Mexico's primary closing fund for qualified economic development projects. LEDA assistance may be used for land, buildings, infrastructure, and other eligible project costs through a public-private project participation agreement with a local government fiscal agent. Awards are discretionary and typically support expanding, relocating, or retaining economic-base companies that create quality jobs and capital investment in New Mexico.
Eligibility
Qualified economic-base businesses undertaking job creation, expansion, relocation, or retention projects in New Mexico with local government participation.
Requirements
- Project must be located in New Mexico.
- Applicant must be a qualified economic-base business or eligible project under LEDA.
- Project must involve a local government fiscal agent and project participation agreement.