Million-dollar economic development fund seeks applicants in southern New Mexico
LAS CRUCES – El Paso Electric and the Infrastructure Investments Fund recently established the El Paso Electric New Mexico Economic Development Fund (Economic Development Fund) to provide $1 million per year for 20 years. The Economic Development Fund will be administered by the Community Foundation of Southern New Mexico and governed by three independent board of advisors.
“We understand that driving economic expansion is needed in order to build strong, healthy and vibrant communities throughout our region,” shares EPE CEO Kelly A. Tomblin. “As we work to transform the energy landscape, we are excited to work together to power the next hundred years of growth, innovation and economic vibrancy our region deserves.”
The Economic Development Fund will provide grants to eligible projects focused on economic-based job creation and support businesses and projects that will make a measurable difference in achieving economic growth and development in Southern New Mexico. Eligible projects must be in EPE’s New Mexico service territory.
“The entire Board of Directors and team of the Community Foundation of Southern New Mexico is honored to be a collaborative partner in this grant making,” said Community Foundation of Southern New Mexico President and CEO Terra Winter. “Economic stability and increased vibrancy is imperative for all southern New Mexico residents. As we step into 2021, we know these funds will impact job creation and spark growth while allowing our foundation to open itself up to a 6th cycle of impact grant making.”
To apply or to learn more, visit https://www.communityfoundationofsouthernnewmexico.com/grants-scholarships/apply-for-nm-economic-development/
The advisors to the Economic Development Fund will have staggered four-year terms and will host two public meetings per year to receive and consider economic development program proposals. Public meetings will be announced on the Foundation’s website at least 30 days in advance.
The advisors are:
- Ed Camden, chief operating officer at Calstrip Industries Inc., a flat-rolled steel and aluminum processor and distributor with presence along the U.S.-Mexico border.
- John Hummer, co-founder, executive board director and president of the Burrell College of Osteopathic Medicine at New Mexico State University,
- Jerean Camuñez Hutchinson, owner of La Posta de Mesilla and Hacienda de Mesilla Grille, Inn & Cantina and former NMSU Regent.