Local Economic Development Act (LEDA)
The Local Economic Development Act (LEDA) by the New Mexico Economic Development Department funds local government projects that drive job creation, wage growth, and economic innovation through business expansion or relocation.
Funder: New Mexico Economic Development Department
Due Dates: Rolling (applications accepted year-round)
Funding Amounts: No fixed maximum; awards determined case-by-case based on project scope, job creation, and economic impact.
Summary: Supports New Mexico local governments to fund business expansion or relocation projects that drive job creation, higher wages, and sustainable economic growth.
Key Information: Grants are reimbursement-based and require local government participation and public approval.
Description
The Local Economic Development Act (LEDA) program, administered by the New Mexico Economic Development Department, provides grants to local governments (municipalities, counties, and tribal entities) to support businesses seeking to expand or relocate in New Mexico. The program is designed to stimulate economic development by targeting projects that create jobs, raise wages, generate new capital investment, and deliver significant community benefits, especially in rural and underserved areas.
LEDA grants are strictly reimbursement-based and require public approval through a local ordinance. Projects must demonstrate community impact, financial readiness, and alignment with state and local economic development priorities. The program emphasizes transparency, accountability, and performance milestones throughout the project lifecycle.
