New Mexico Economic Development Department

What New Mexico Economic Development Department does

The New Mexico Economic Development Department (NMEDD), operating under the brand Economic Development New Mexico (EDNM), is a state government agency established in 2019 under Governor Michelle Lujan Grisham and headquartered in Santa Fe, New Mexico, with a regional office in Albuquerque. The agency administers a portfolio of economic development programs organized into seven divisions and offices: the Technology and Innovation Office (TIO), Creative Industries Division, Outdoor Recreation Division, NM Film Office, Office of International Trade, Food/Hunger/Agriculture Program, and the Justice, Equity, Diversity and Inclusion Office. Core programmatic offerings include the Local Economic Development Act (LEDA) grants, Job Training Incentive Program (JTIP), Quantum Technologies Award (up to $200K), SBIR Matching Grants, Science and Technology Business Startup Grants, Healthy Food Financing Fund, Trails+ Grant, and Outdoor Equity Fund, among others.

NMEDD is funded through New Mexico state budget appropriations rather than commercial revenue, and deploys these funds via performance-based grants, workforce training reimbursements, and tax incentives to attract, retain, and grow businesses across the state. The agency's go-to-market relies on six regional representatives providing field-based assistance, supplemented by event-driven marketing (notably the New Mexico House at SXSW), earned media, and direct enterprise engagement with national laboratories including Sandia and Los Alamos. Customer segments span existing New Mexico businesses expanding operations, out-of-state and international firms evaluating the state for relocation, startups and entrepreneurs, local governments and economic development organizations, tribal nations, and technology companies in quantum, AI, clean energy, aerospace, and defense. Notable customer engagements include Intel's $3.5B Rio Rancho expansion, GreenPower Motor Company's $14.6M-incentivized EV facility, Maxeon's planned 1,800-job solar complex, and five quantum firms attracted in under two years.

Name

New Mexico Economic Development Department

Legal name

New Mexico Economic Development Department

Website

https://edd.newmexico.gov

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

The New Mexico Economic Development Department is a state government agency administering grants, workforce training incentives, and business attraction programs to grow companies and investment across New Mexico.

Ownership category

akta.pro rank

Product category

State Economic Development Services

NAICS

Administration of General Economic Programs (92611)

SIC

Services-Engineering, Accounting, Research, Management (8700)

akta.pro primary industry

Monitoring, Evaluation, Learning (MEL) & Reporting for Donor Programs (BPADAOAL)

akta.pro secondary industries

Donor Coordination, Monitoring & Evaluation (MEL) Programs (BPADABAN), Economic Development & Business Licensing (Local) (BPAIACAN)

Keywords

• Economic development services
• Business incentive programs
• Workforce training grants
• State grants funding
• Site selection support

Headquarters

HQ city

Santa Fe

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. State Government Budget and Appropriations: The department operates as a state government agency funded through annual state budget appropriations. It deploys this funding through various grant programs, LEDA awards, JTIP funding, and other economic development incentives to attract private investment and create jobs in New Mexico.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

The New Mexico Economic Development Department (NMEDD) is a state government agency that administers economic development programs, grants, and incentives to attract, retain, and grow businesses in New Mexico. It funds workforce training through JTIP, provides job creation incentives via LEDA, supports technology and innovation companies through the Technology and Innovation Office (TIO), promotes outdoor recreation and creative industries through dedicated divisions, and offers site selection, capital access, and technical assistance to businesses, local governments, and tribal communities.

Product overview

The New Mexico Economic Development Department operates as a state government agency offering a portfolio of programs and divisions rather than a unified product platform. The agency's offerings include: the Technology and Innovation Office (TIO) supporting quantum technologies, SBIR matching grants, and science/tech startups; the Job Training Incentive Program (JTIP) for workforce development; Local Economic Development Act (LEDA) grants for business expansion; the Outdoor Recreation Division with Trails+ and Outdoor Equity Fund grants; the Creative Industries Division supporting creative businesses; Health ImpACT for health tech innovation; and various other economic development programs including business incubator certification, capital access programs, and the Healthy Food Financing Fund. These programs work together to support business growth, workforce development, and economic diversification across New Mexico.

Differentiator

Problem solved

Functional benefit

Brands

• New Mexico House: Activation at SXSW festival showcasing New Mexico's innovation economy and cultural assets
• Choose New Mexico
• Next Frontier

Products and services

• Job Training Incentive Program (JTIP) A workforce development program that funds training and upskilling for workers in newly created jobs within economic base industries, primarily manufacturing and non-retail service companies. Reimburses 40-60% of wages during training depending on geographic area.
• Local Economic Development Act (LEDA) Economic development funding tool that supports job creation through performance-based financial assistance to companies expanding or relocating to New Mexico.
• Quantum Technologies Award Grant program providing up to $200,000 to early-stage quantum technology companies operating or locating in New Mexico.
• Science and Technology Business Startup Grant Grant program supporting the startup and growth of science and technology businesses in New Mexico.
• NM Small Business Innovation Research (SBIR) Matching Grant Matching grant program that provides supplemental funding to New Mexico companies that have received federal SBIR or STTR awards.
• Healthy Food Financing Fund Grant program supporting organizations and businesses that expand access to fresh food, strengthen local agricultural supply chains, and invest in rural and tribal communities.
• Trails+ Grant Grant program administered by the Outdoor Recreation Division making funding available for community outdoor recreation projects.
• Outdoor Equity Fund Grant program connecting youth across New Mexico to outdoor experiences including hiking, biking, camping, environmental education, cultural programs, and conservation projects.
• Capital Connect Program Program connecting businesses with capital and investment opportunities to support business growth and expansion in New Mexico.
• NM Collateral Assistance Program (CAP) 2.0 Program providing collateral support to small businesses that lack sufficient collateral to access traditional commercial lending.
• Business Incubator Certification Program Program that certifies business incubators meeting state standards, providing support to help incubators pursue certification and expand entrepreneurship and small business growth.
• Technology and Innovation Office (TIO) A division within NMEDD that helps technology-based businesses grow in New Mexico through grants, programs, and support services including the Quantum Technologies Award, SBIR Matching Grant, and Science & Technology Business Startup Grant.
• Outdoor Recreation Division (ORD) Division established in 2019 to increase equitable access to the outdoors for all New Mexicans, administering programs including the Trails+ Grant and Outdoor Equity Fund.
• Creative Industries Division Division supporting creative businesses through grants, resources, and programs that use creative means such as design, production, culture or crafts to turn original ideas into economic value.
• Health ImpACT A statewide health innovation pilot and learning network enabling healthcare organizations to evaluate and pilot startup technologies including AI, analytics, and digital tools.

Quantifiable outcome

• Over 1,700 jobs created and $740 million in private investment in first year of current administration
• +3 more outcomes

Named customers18 records

Segments10 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

32 partnerships are on record, tiered flagship, core and minor.

• Central New Mexico Community College (CNM)flagshipStrategic or Co-development Partner · 21 May 2026CNM partnered with Sandia on the Quantum Learning Lab and Technician Bootcamp to train New Mexico's quantum workforce. CNM Ingenuity CEO Kyle Lee serves on the Technology and Innovation Network Advisory Board.
• HealthInnocoreStrategic or Co-development Partner · 10 March 2026HealthInno received $844,000 through NMEDD's FY26 Entrepreneurship Programmatic Support Grant to launch Health ImpACT, a statewide health innovation network. The program enables healthcare organizations to evaluate and pilot startup technologies, particularly in AI and digital tools.
• UNM Health Sciences CentercoreStrategic or Co-development Partner · 10 March 2026UNM Health Sciences Center partnered with HealthInno and Builders VC to develop the Health ImpACT statewide innovation network, bringing academic research capabilities and healthcare expertise to the program.
• Builders VCcoreStrategic or Co-development Partner · 10 March 2026Builders VC partnered with HealthInno and UNM Health Sciences Center to launch the Health ImpACT innovation network, contributing venture capital perspective and startup evaluation expertise.
• Reliable RoboticsflagshipStrategic or Co-development Partner · 10 March 2026Reliable Robotics and the City of Albuquerque Aviation Department are launching an autonomous air cargo pilot program under FAA's Advanced Air Mobility Integration Pilot Program, connecting Albuquerque International Sunport with regional airports in Colorado and New Mexico to evaluate autonomous aircraft systems.
• New Mexico Venture StudioscoreStrategic or Co-development Partner · 5 February 2026New Mexico Venture Studios received $2 million through NMEDD's Innovation Infrastructure Grants to convert a warehouse into a life-sciences lab in Albuquerque, expected to become operational within a year.
• New Mexico Innovation HubcoreStrategic or Co-development Partner · 5 February 2026Santa Fe-based New Mexico Innovation Hub received $700,000 through NMEDD's Innovation Infrastructure Grants to develop a 32,000-square-foot innovation campus in Santa Fe's Midtown corridor, expected to become operational within a year.
• GreenPower Motor CompanyflagshipStrategic or Co-development Partner · 8 January 2026Canadian EV manufacturer GreenPower Motor Company established a 135,000 sq. ft. manufacturing facility in Santa Teresa as North American operations base and US headquarters. The state provided over $14.6 million in combined support including LEDA funding and job training incentives.
• Sandia National LaboratoriesflagshipStrategic or Co-development Partner · 14 December 2025Sandia National Laboratories is a key partner in New Mexico's quantum technology ecosystem, collaborating with state government, Roadrunner Venture Studios, and CNM on quantum workforce development and commercialization initiatives.
• Los Alamos National LaboratoryflagshipStrategic or Co-development Partner · 14 December 2025Los Alamos National Laboratory is part of the Roadrunner-led coalition supporting quantum innovation and commercialization in New Mexico, bringing research expertise and technology transfer capabilities.
• Pacific FusionflagshipStrategic or Co-development Partner · 14 December 2025Pacific Fusion announced a $1 billion research and manufacturing campus in Mesa del Sol, one of several major companies investing in New Mexico identified in the Science and Technology Roadmap.
• Castelion Corp.flagshipStrategic or Co-development Partner · 14 December 2025Castelion Corp. is building a 1,000-acre hypersonic missile manufacturing facility in Sandoval County, representing significant advanced manufacturing investment identified in the Science and Technology Roadmap.
• Roadrunner Venture StudiosflagshipStrategic or Co-development Partner · 25 August 2025Roadrunner Venture Studios was selected by NMEDD to lead a $25 million initiative to accelerate quantum innovation and commercialization in New Mexico. The coalition includes national laboratories (Sandia, Los Alamos), academic institutions, and venture capital firms, operating a Founder-in-Residence program and dedicated capital network to launch quantum startups.
• Regional Economic Development OrganizationscoreChannel Partner/ Reseller/ DistributorThe department works with regional EDOs across New Mexico including Albuquerque Economic Alliance, Borderplex Alliance, and others to coordinate economic development efforts and business recruitment.
• New Mexico Independent Community CollegescoreStrategic or Co-development PartnerNM Independent Community Colleges, represented by President Becky Rowley on the Technology and Innovation Network Advisory Board, support workforce development and training programs across the state.
• New Mexico Chamber of CommercecoreStrategic or Co-development PartnerThe NM Chamber of Commerce, represented by President and CEO Leslie Hielema on the Technology and Innovation Network Advisory Board, provides business community perspective on economic development priorities.
• New Mexico Bioscience AuthoritycoreStrategic or Co-development PartnerThe NM Bioscience Authority, with Executive Director Stephanie Tofighi on the Technology and Innovation Network Advisory Board, coordinates bioscience industry development in the state.
• New Mexico State UniversitycoreStrategic or Co-development PartnerNMSU, represented by Assistant Vice President for Research Tanner Schaub on the Technology and Innovation Network Advisory Board, contributes research capabilities and workforce development.
• University of New MexicocoreStrategic or Co-development PartnerUNM, represented by Associate Vice President for Research David Hanson on the Technology and Innovation Network Advisory Board, provides research infrastructure and talent pipeline.
• New Mexico TechcoreStrategic or Co-development PartnerNew Mexico Tech, represented by Vice President for Research Lique Coolen on the Technology and Innovation Network Advisory Board, contributes STEM research and education capabilities.
• Navajo Technical UniversitycoreStrategic or Co-development PartnerNavajo Technical University, represented by Vice President of Operations Jason Arviso on the Technology and Innovation Network Advisory Board, supports workforce development and economic opportunities for tribal communities.
• San Juan CollegecoreStrategic or Co-development PartnerSan Juan College, represented by Dean Alicia Corbell on the Technology and Innovation Network Advisory Board, supports workforce training in the Four Corners region.
• Rural healthcare organizationscoreStrategic or Co-development PartnerRural healthcare organizations partnered with HealthInno to participate in the Health ImpACT network, enabling evaluation and piloting of health tech solutions in rural communities.
• City of AlbuquerquecoreStrategic or Co-development PartnerThe City of Albuquerque collaborates with NMEDD on multiple projects including BlackVe expansion ($250,000 LEDA), Eden Pharmacy expansion ($100,000 LEDA), and other economic development initiatives.
• Investors, venture capitalists, and policymakerscoreGTM or Marketing PartnerNew Mexico House at SXSW convenes investors, VCs, and policymakers for curated programming focused on measurable economic outcomes including investment, talent attraction, and strategic partnerships.
• Global Location Strategies (GLS)coreStrategic or Co-development PartnerGLS partnered with NMEDD to conduct rigorous evaluation of sites for the Strategic Site Readiness Program, reviewing infrastructure, utility access, workforce considerations, and development capacity.
• Adelante ConsultingminorImplementation/ SI/ Consulting PartnerAdelante Consulting administers the New Mexico C-PACE program statewide on behalf of Economic Development New Mexico.
• FoxconnflagshipStrategic or Co-development PartnerFoxconn built a 1.5-million-square-foot computer plant in San Jeronimo, Mexico, across from Santa Teresa, producing 70,000 computers daily and contributing significantly to Borderplex region growth.
• Union PacificflagshipStrategic or Co-development PartnerUnion Pacific invested $400 million in 2014 constructing an Intermodal Facility in Santa Teresa on the Sunset Route, with additional $20 million investment in 2019 for a block sway yard.
• Borderplex AlliancecoreChannel Partner/ Reseller/ DistributorThe Borderplex Alliance supports economic development in the Borderplex region, contributing to growth that made Santa Teresa the 6th fastest growing port.
• Hota Industrial ManufacturingflagshipStrategic or Co-development PartnerHota Industrial Manufacturing invested nearly $72 million in the Borderplex region, employing 350 workers as part of the growing advanced manufacturing cluster.
• Franklin Mountain PackagingcoreStrategic or Co-development PartnerFranklin Mountain Packaging operates manufacturing facilities in the Borderplex region, contributing to the area's industrial growth.

Scale indicators37 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• North Carolina Department of Commerce (Economic Development Division): State economic development arm offering matching grants, workforce training, and site readiness; directly competes for semiconductor, biotech, and clean-energy capital projects.
• Arizona Commerce Authority: Public-private state economic development organization running sector attraction programs, grant administration, and workforce development; competes directly with NMEDD for semiconductor and advanced manufacturing projects.
• Texas Governor's Office of Economic Development & Tourism: State-level economic development office with comparable business attraction, incentives administration, and workforce development functions; competes with NMEDD for semiconductor, advanced energy, and aerospace relocations.
• California Governor's Office of Business and Economic Development (GO-Biz): State economic development agency administering tax credits, grants, and innovation programs; comparable scope including workforce, international trade, and technology-based business attraction.
• Tennessee Department of Economic and Community Development: State-level economic development agency with FastTrack grant program, workforce development, and rural programs structurally analogous to NMEDD's LEDA and JTIP offerings.
• Indiana Economic Development Corporation: Public-private state economic development organization with comparable sector strategies, incentive programs, and regional coverage model targeting advanced manufacturing and life sciences.
• Utah Governor's Office of Economic Opportunity: State economic development office administering tax credits, recruitment incentives, and rural programs; comparable structure and active competition for tech and manufacturing tenants.
• Colorado Office of Economic Development and International Trade (OEDIT): Neighboring state's primary economic development office with matching incentives toolkit, sector-focused strategies, regional representatives, and active competition for aerospace, quantum, and clean-energy investment.
• Georgia Department of Economic Development: State agency performing identical functions—business recruitment, workforce, international trade, rural innovation—with comparable LEDA-equivalent incentives and regional representative model.
• Nevada Governor's Office of Economic Development: Neighbor-state economic development agency with similar workforce training, incentives, and rural programs; competes for advanced energy and logistics investment along shared I-25 corridor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/nm_econ_dev
• YouTubeyoutube.com/channel/UCEVKlfuuLNl4R0VH6GsxZRQ
• Facebookfacebook.com/210303948990158
• LinkedInlinkedin.com/company/new-mexico-department-of-taxation-and-revenue
• Instagraminstagram.com/nmeconomicdev

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments79 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about New Mexico Economic Development Department