Contact Us for Grants & Loans that Can Help You to Grow Your Business
The RCCEDC can help you to grow your business by providing support and financial incentives. Contact us to discuss your situation and how we can help. In the meantime, learn about some of our grant and loan programs below.
Considered by the Roswell-Chaves County Economic Development Corporation (RCCEDC) Finance Committee and approved by the RCCEDC Executive Committee, the Chaves County Façade Improvement Matching Grant Program provides matching grants in the form of reimbursement up to five thousand dollars ($5,000) depending on fund availability for eligible improvements to facades. Participants are eligible for up to one (1) grant in a twelve (12) month period from completion of the previous grant.
- The business must be a “Supporter” level member or above, in good standing of the Roswell- Chaves County Economic Development Corporation.
- Must be used towards an existing business building located in Chaves County.
- Improvements must comply with all applicable state and local code requirements.
- Eligible Façade Improvements shall not begin before the application is considered by RCCEDC Finance Committee and approved by the RCCEDC Executive Committee.
- Improvements must be on the exterior and visible to the public (street, parking area, or public park).
- Buildings with multiple tenants are eligible for one (1) grant in a twelve (12) month period from completion of the previous grant.
- Buildings also being utilized as a residence (mixed-use) are not eligible for this program
Eligible improvements include (but are not limited to):
- Façade facelift: Painting, trim work, cladding
- New or enhanced attached signage and/or awnings
- New storefronts
- Window replacement and window framing
Ineligible improvements include (but are not limited to):
- Interior improvements
- Any facades not visible to the public (street, parking area, or public park)
- Roof repairs; structural building repairs
- New buildings or new building additions other than exterior additions such as porches and entry features
- Plantings or landscaping
- Outdoor furnishings
New Mexico has one of the country’s most generous training incentive programs. The Job Training Incentive Program (JTIP) funds classroom and on-the-job training for newly-created jobs in expanding or relocating businesses for up to 6 months. The program reimburses 50-75% of employee wages. Custom training at a New Mexico public educational institution may also be reimbursed
Businesses eligible for consideration include:
- Companies that manufacture or produce a product in New Mexico
- Non-retail service companies that export a substantial percentage of services out of state (50% or more of revenues and/or customer base). Software development companies, customer support centers, and product testing laboratories are three examples of businesses that have qualified in this category.
- Certain green industries
- The company must be financially sound and must be creating new jobs as a result of expansion or relocation to the state of New Mexico.
Jobs eligible for funding through JTIP must be:
- Full-time (minimum of 32 hours per week)
- Directly related to the creation of the product or delivery of the service. (1 in 5 positions applied for may be outside product/service creation). Typical examples include marketing, sales, and general administration.
- Manufacturing examples: production worker, electronic equipment assembler, first-line supervisor, industrial engineering technician, R&D scientists, and engineers
- Service examples: customer service representative, environmental engineering technician, web developer, software developer
- Intern positions may be eligible.
To be eligible for funding under JTIP, trainees must:
- Be new hires to the company
- Have been residents of the state of New Mexico for at least 1 year before employment. Trainees that do not meet the one-year residency requirement may be eligible if hired into high-wage jobs.
- Not have left high school in the 3 months before employment, unless they have graduated or completed an HSE (High School Equivalency)
Under the Local Economic Development Act (LEDA), the New Mexico Economic Development Department (NMEDD) is granted authority to administer grants to Local Governments (Municipality and/or County); to assist in expanding or relocating businesses that are Qualified Entities that will stimulate economic development and produce public benefits pursuant to LEDA. All grants are funded on a strict reimbursement basis.
NMEDD targets economic development projects that comply with all legal facets of LEDA.
An additional consideration is given to projects that demonstrate:
- Significant Community Impact and Support
- Rural and Underserved Areas of New Mexico
- Increased Wages and Job Creation
- Significant New Capital Investment; and
- Environmentally Sustainable Outcomes.
To encourage development in NM Opportunity Zones, NMEDD offers an incentive as a part of LEDA. New Mexico will guarantee an additional $1 million in LEDA funding to projects located in an Opportunity Zone if they meet specific criteria:
- The project must be in one of the nine key industry sectors outlined by the Governor: aerospace, biosciences, cybersecurity, film & television, global trade, intelligent manufacturing, outdoor recreation, sustainable & green energy, and sustainable value-added agriculture.
- The investment must create a minimum of $2.5 million dollars in annual payroll with average annual salaries greater than 2% above the county average as defined by the Bureau of Labor Statistics QCEW Data; if located in Santa Fe, Albuquerque, or Rio Rancho, the investment must create a minimum of $3.5 million dollars in annual payroll with average annual salaries greater than 2% above the county average as defined by the Bureau of Labor Statistics QCEW Data.
- Must commit to a 10-year agreement.
- Must have a capital investment of $10 million or higher; if located in Santa Fe, Albuquerque, or Rio Rancho, $15 million or higher.
- The project must be an expansion or out-of-state relocation
To see a map of opportunity zones in our county, visit: https://www.nmopportunity.com/Learn More
Goal of ROAR
The Roswell Opportunity for Advancement Revolving Loan Fund (ROAR), provides a financial resource that will complement sources of financial assistance in both the private and public arena to enhance the City of Roswell's economy. ROAR is intended to participate in conjunction with commercial and public lenders in projects that present expanded employment opportunities and improve commercial business district of Roswell.
Call us to schedule an appointment at 575-622-1975 or email@example.comLearn More