The U.S. Department of Commerce has announced a $2.3 million infrastructure grant to the Village of Ruidoso, New Mexico. The announcement came from U.S. Secretary of Commerce Gina Raimondo, who stated the award is aimed at supporting business and economic growth through roadway infrastructure improvements.
The funds will facilitate the redesign of the intersection of U.S. Highway 70 and NM Highway 48. The enhanced accessibility to the business district is expected to bolster economic growth in the region. In addition to the EDA grant, a further $465,600 in local funds will supplement the infrastructure project.
Secretary Raimondo underscored the alignment of this investment with President Biden’s “Investing in America” agenda. She stated that the agenda was committed to equipping communities across the nation with the necessary resources for robust regional economies. The EDA investment in Ruidoso will contribute to the establishment of a modern, sustainable infrastructure, supporting local businesses and generating quality jobs in the region.
Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo emphasized the role the Economic Development Administration plays in boosting local economies. She outlined how the funds allocated to Ruidoso would improve traffic flow and increase accessibility in the area, supporting nearby businesses and enhancing the regional economy overall.
This investment falls under the Disaster Relief Supplemental Appropriations Act, 2023, which provided the EDA with $483 million in additional Economic Adjustment Assistance (EAA) Program funds. These funds are intended for disaster relief and recovery in areas that experienced major disasters in 2021 and 2022, as declared under the Robert T. Stafford Act. More information can be found on the EDA’s Disaster Supplemental webpage.
