Help us plan for New Mexico's Economic recovery from COVID-19 today!

On March 27th, President Trump passed the Coronavirus Aid, Relief, and Economic Security Act (The CARES Act), also known as the Third COVID-19 Supplemental Relief bill into law.  Within this Act, the US Economic Development Administration (EDA) has been appropriated $1.5B to assist with America’s recovery.

On April 1st, EDA Regional Director Jorge Ayala held a conference call with each of the seven (7) Council of Governments / Economic Development Districts in New Mexico to discuss his understanding of the rules and direction on how the EDA-Austin in strategizing deployment of resources.

He believes that the EDA Austin will receive somewhere in the neighborhood of $200M to spend from the EDA CARES Act, which is a historic amount for the Administration and the EDA Austin region, including previous disaster funding. This funding would be Economic Adjustment Assistance funds; EDA’s most flexible source in terms of use, e.g. planning, technical assistance, construction, public works, etc.  The funding must be obligated by September 2022 and recipients will have until September 2027 to expend funds.  

EDA is leaning heavily on the Districts to assist in providing direction on investments, projects, programs, and resources needed to best support our regions and New Mexico in rebuilding the economy for the future.

He stressed that this is not an opportunity to repackage old proposals that were not funded in the past, but the chance for the Districts to advocate for investments to change New Mexico’s economy forever to be more resilient, cross gaps made evident by COVID-19, and setup businesses for success in the new global marketplace.  There are alot of other programs that will deal with current businesses in crisis - this is all about a Recovery Plan.  What comes next in this new reality?

So, we are reaching out to the experts on the ground and in the field - please let us know where the best places are to build the levers that will uplift our economy and our communities.  If you had $20M to invest what would you do that would have the greatest impact.

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* 1. Prioritize these sectors for investment?

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* 2. What investment sectors are missing that you think are critical to develop strategies and projects around, especially for our region?

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* 3. If you were in charge of New Mexico's Recovery, what is the one investment you would make and why?

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* 4. Are there any State agencies/programs would be strategic to partner with that will get results?  To match, expand, or incentivize, any suggestions?

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* 5. The following are roles that our District could play and examples of services? What services to you want NWNMCOG to provide for your community? Please rate these from least critical to most critical.

  Least Critical Slightly Critical Critical Fairly Critical Most Critical (Start Tomorrow)
Assistance with Economic Development Administration applications and projects
Role-out of the new the State's CDBG Small Business Assistance Program
Assistance with infrastructure planning, financing, and development
Providing VISTA volunteers
Re-energizing a Revolving Loan Fund Program
Facilitation of a Regional Recovery Consortium
Developing a Recovery Plan and Investment Strategy
Finding, Funneling, and Financing Support including Grantsmanship
Using Wealthworks to Re-envision their Economies

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* 6. Do you have a specific project, program, or investment needed in your community that you want investment for? How much would it take to get the full results?

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* 7. Would you or your organization being willing to partner in a Regional Economic Recovery Consortium?         We are thinking a half-a-day a month commitment.

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