The Economic Development Administration (EDA) is set to invest $3.9 million in the state of New Mexico, according to an announcement made today by U.S. Secretary of Commerce Gina Raimondo. The investment aims to bolster economic and workforce development in areas of the state affected by natural disasters.
The city of Raton will receive a $2 million EDA grant which will be used for building renovations and equipment to support the development of a media training center. This project is expected to be matched with $500,000 in local funds, and according to grantee estimates, it will create 35 jobs and generate $10 million in private investment.
Mora County is set to receive a $1.1 million EDA grant. The funds will be used for planning, infrastructure, and staffing assistance to support economic development in the aftermath of devastating wildfires, flooding, and straight-line winds that have hit the region.
Lincoln County will be the recipient of an $800,000 EDA grant. The funds will be used for disaster recovery capacity building and a comprehensive bridge inspection, aimed at supporting economic development following severe wildfires and straight-line winds. This project will be matched with $202,047 in local funds.
Additional funding has been provided under the Disaster Relief Supplemental Appropriations Act, 2023, which provided EDA with $483 million in additional Economic Adjustment Assistance (EAA) Program funds for disaster relief and recovery for areas that received a major disaster declaration under the Robert T. Stafford Act as a result of Hurricanes Ian and Fiona, wildfires, flooding, and other natural disasters occurring in calendar years 2021 and 2022.
