Local Economic Development Act (LEDA)

Local Economic Development Act (LEDA) is New Mexico's pass-through economic development route for projects that expand or relocate into the state. NM EDD awards funds to local governments, and those governments use the money to support qualifying businesses through reimbursement for land, buildings, infrastructure, construction, reconstruction, or improvement costs, including related loan guarantees for those assets. Eligible companies are manufacturers, processors, distributors, or JTIP-qualifying economic base employers. Retail and public utilities are excluded. The route is rolling, and the typical project timeline runs from about three months to 18 to 24 months after initial approval. It is not a direct cash advance to the business, which matters for deal structuring. The best fit is a company with a tangible expansion or relocation plan and a local government sponsor willing to work through the reimbursement structure. Because delivery runs through the municipality rather than straight to the company, applicants need a project that can survive local approvals, capital budgeting, and construction timing. LEDA is most useful when job creation and place-based capital investment are the real center of the transaction.

Each grant below is a distinct funding opportunity with its own eligibility, scope, and deliverables.