Local Economic Assistance and Development Support Program

The Local Economic Assistance and Development Support Program, commonly referred to as LEADS, is administered by the New Mexico Economic Development Department. The department's stated mission is to improve the lives of New Mexico families by increasing economic opportunities and providing a place for businesses to thrive. LEADS is a funding initiative designed to support economic development projects that achieve lasting results. Its program goals include job recruitment, retention, expansion or creation, expansion of the tax base, and business growth. Individual LEADS grant amounts range from $5,000 to $25,000. Eligible projects must support job creation, expansion of the tax base and/or business development, be consistent with the applicable economic development plan, have a clear beginning and end, and have an appropriate budget and timeline. Projects must address at least one core economic development area: Business Retention/Expansion, Real Estate, Technology and Entrepreneurial Development, Workforce Development, or Regional Strategic Planning Efforts. Examples include outreach to existing businesses to identify growth opportunities, assistance with business expansion, development or improvement of industrial parks, support for technology startups, establishment of shared or co-working spaces, job training and skill enhancement initiatives, workforce upskilling, and regional strategic planning and collaboration. Certain costs and activities are not eligible for LEADS funding. The materials identify printed marketing materials, creation or upkeep of websites, training and professional growth, promotional activities, trade exhibitions, and sales trips and associated costs as ineligible. The proposed project must also represent a new initiative rather than an expense that is already part of the applicant's existing operational budget. Funding is ultimately provided through a cost reimbursement grant agreement. The source does not establish a mandatory matching-fund percentage or amount, although the extent to which a project uses matching funds or leverages other funding or community assets is considered during presentation scoring. Eligible applicants include incorporated municipalities and counties, including Native American tribal entities. Community stakeholder organizations, such as economic development organizations and chambers of commerce, may also apply if they have operated for at least one year and are incorporated under New Mexico's not-for-profit law. Applicants must participate in a public-private economic development initiative, have a current community economic development plan and a business-oriented marketing plan, and be located in a community that has adopted the Local Economic Development Act or the Local Option Gross Receipts Tax. For the FY27 process described in the source, applicants were required to complete and submit an online application through the LEADS portal by 5:00 PM Mountain Time on Wednesday, May 13, 2026. Applicants were then instructed to send the PowerPoint presentation for their virtual project pitch to their Regional Representative by May 18, 2026. Virtual presentations were scheduled for May 20-21, 2026. Each presentation session was scheduled for 30 minutes, allowing up to 10 minutes for the PowerPoint presentation and the remaining time for committee questions and answers. Recommended presentation components included organization background, overall project budget, LEADS grant budget, and a scope of work describing key activities, timeline, and expected outcomes. LEADS uses a competitive review process. Applications are reviewed by New Mexico Economic Development Department staff and the Small Business Development Center, with final award decisions made by the New Mexico Economic Development Department Office of the Secretary. Application scoring considers alignment with program objectives, economic impact, project feasibility and readiness, support for business development, workforce development, regional collaboration and strategic planning, eligibility and compliance, innovation and sustainability, budget and cost effectiveness, and reporting and accountability. Presentation scoring additionally examines alignment with community economic development goals and the applicant's mission, direct outcomes for jobs, tax base or business development, reasonableness of the budget, leveraged or matching resources, community and statewide impact, return on investment, feasibility, timeline, success measures, and data collection and reporting methods. The grant period begins July 1, 2026, or on the date the grant agreement is signed, and ends June 30, 2027. All approved project activities must be completed by June 30, 2027, and final invoices and project reports must be submitted to the New Mexico Economic Development Department by the end of the grant period. The supplied materials do not identify a named individual program contact, program email address, program telephone number, or direct PDF URL. They also do not explicitly state that LEADS recurs annually or provide the dates for a subsequent application cycle.

Demonstrate direct alignment with adopted economic development goals and the applicant mission; quantify job tax-base and business-development outcomes; present a reasonable budget and identify leveraged resources where available; demonstrate community or statewide impact and return on investment; show that expertise land building workforce and other resources are in place as applicable; establish a feasible completion timeline; use meaningful success measures and reasonable data collection and reporting methods