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MVEDA, Community Foundation program creates 900-plus jobs

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The NMBorderplex Incentive Program created by the Community Foundation of Southern New Mexico (CFSNM) and the Mesilla Valley Economic Development Alliance (MVEDA) committed $530,000 to six companies in 2022 that will create 937 new economic-base jobs and more than $105 in new capital investments in Doña Ana County, MVEDA said in a news release.

Recipients of the incentive include Artico Cold Storage, Electronic Caregiver, BitWise Industries, Worthington Farms and two additional companies that will be formally announced in the coming months, the news release said. 

The incentive program is a post-performance, economic-based, job-creation grant managed by MVEDA with financial assistance from the New Mexico Economic Development Fund (NMEDF), a multipurpose economic development initiative administered by CFSNM, MVEDA said.

“It is estimated the economic impacts of these investments in 2022 will lead to over $126 million in new household spending and an overall economic impact of $461 million to the region over the next five years,” MVEDA said. 

To date, in its first two years of existence, the incentive program has provided financial commitments of $805,000 across nine projects in the region, assisting in the creation of more than 1,400 new economic-based jobs, the news release said. 

NMEDF was established by El Paso Electric to provide $1 million per year for 20 years in support of private businesses, projects and organizations that make or will make a measurable difference in achieving economic growth and development and creating new quality jobs within El Paso Electric’s New Mexico service area.

For the past two years, the fund has been governed by three independent boards of advisors made up of local community leadership which included Ed Camden, John Hummer and Jerean Camunez Hutchinson, MVEDA said. Dr. Andrea Tawney will replace Ed Camden as the third community advisor in 2023, as Camden’s term has ended. 

For more information about the fund, visit www.communityfoundationofsouthernnewmexico.org. For more information about the NMBorderplex Incentive Program, visit www.mveda.com.