Sep. 25—State EDD helps grow small businesses
Thanks to funding from the New Mexico Economic Development Department, nearly 200 businesses increased their payrolls and gross receipts by the millions.
The state department invested $200,000 in four business incubators, which then doled out support funding for local small businesses.
The incubators that received $50,000 each include the Enterprise Center at San Juan College, Santa Fe Business Incubator, South Valley Economic Development Center and WESST Enterprise Center.
"Business incubators provide critical support to growing New Mexico companies and have a proven economic impact. EDD is proud to support them and offer the resources to help them reach more businesses across the state," EDD Deputy Secretary Jon Clark said in a statement.
The state program that helps fund these incubators was created in statute in 2005.