Local Economic Development Act (LEDA)

6/8/15 1 Local Economic Development Act (LEDA) Juan Torres Finance Development Director New Mexico Economic Development Department New Mexico Economic Development Department u Office of Business Advocacy u Film Office u Border Authority u Office of International Trade u Office of Science and Technology 6/8/15 2 New Mexico Economic Development Department, ED Division u Job Training Incentive Program u ISO 9000 u Business Retention and Expansion Program u Finance Development Programs EDD LEDA Goals Job creation and increased wages Community impact and support Rural and underserved areas of our state capital investment and leverage Environmentally sustainable outcomes Financial soundness and readiness to proceed 6/8/15 3 New Mexico Constitution Anti-Donation Clause: u Does not allow the use of public funds for gain by Private Entities u Was amended to allow the State Economic Development Department to invest directly in Economic Development Projects that provide for a significant public benefi

6/8/15 4 What is LEDA Capital Outlay funding?! Funds are Appropriated by the New Mexico Legislature and signed into law by the Governor for the purpose of assisting

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  Economic, Development, Capital, Deal, Local, Layout, Capital outlay, Local economic development act

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