New Mexico economic development funding increased by Capital Outlay Bill
ALBUQUERQUE, N.M. – Gov. Susana Martinez signed a $293.7 million Capital Outlay Bill to expand New Mexico’s closing fund for economic development programs and provide critical funding for road and highway infrastructure.
The bill, which passed through a special legislative session, increased economic development funding by $12.5 million, to total $50 million. Local Economic Development Act (LEDA) funding helps existing businesses grow while helping to attract new business to New Mexico.
The bill also includes $70 million funding for highway infrastructure improvements identified as critical to maintaining the rapid growth of the regional economy. The investment in infrastructure is expected to create jobs and achieve objectives through repair of roads and highways impeding economic growth.
Source: Economic Development Blog