Local Economic Development Act

Since 2002, a record 83 New Mexico communities have now passed a Local Economic Development Act (LEDA). Through passing LEDA, a community adopts an ordinance creating an economic development organization and a strategic plan.

The enactment and utilization of LEDA allows public support of economic development to foster, promote, and enhance local economic development efforts while continuing to protect against the unauthorized use of public money and other public resources.  This empowers communities to embark on economic development projects tailored to their LOCAL needs.  In essence, LEDA is used to enter into a “public private partnership” for an economic benefit.

Further, the purpose of the Act is to allow municipalities and counties to enter into Joint Powers Agreements to plan and support regional economic development projects.   LEDA can be used to support 3 types of projects:  Infrastructure/Improvement, Economic Development (Job Creator) and Retail **

** In the 2013 Regular Legislative Session, amendments to the Local Economic Development Act whereas adopted and took effect July 1, 2013. The amended section relating to “RETAIL” is  Section 5-10-3 NMSA 1978 (being Laws 1993, Chapter 297, Section 3) .  The amended section relating to 'Claw back Provision” as it relates to the “Project Participation Agreement – Duties and Requirements” is Section 5-10-10 NMSA 1978 (being Laws 1993, Chapter 297, Section 10)

Regional Representatives of the Economic Development Department help New Mexico cities and counties pass, utilize and structure the use of the Act for public private partnerships by:

  • Preparing the ordinance
  • Attending council meetings
  • Being available for questions and answers
  • Extolling the benefits of LEDA to the community
  • Giving examples of other communities who have passed LEDA

Interested in passing LEDA in your community?  Do you have a local funding source for economic development projects?  Does your community have a LEDA project that is ready to move forward?

Start by finding your Regional Representative

Communities who have passed a Local Economic Development Act: 

Pueblo of Acoma
Alamogordo
Albuquerque
Angel Fire
Anthony
Artesia
Aztec
Bayard
Belen
Bernalillo
Bernalillo County
Bloomfield
Bosque Farms
Carlsbad
Catron County
Chaves County
Cibola County
City of Los Alamos
City of Santa Fe
Clayton
Cloudcroft
Columbus
Clovis
Cuba
Curry County
De Baca County
Deming
Des Moines
Dexter
Dona Ana County
Eagle Nest

 

Edgewood
Elephant Butte
Encino
Espanola
Estancia
Eunice
Farmington
Fort Sumner
Gallup
Grady
Grant County
Grants
Hagerman
Harding County
Hatch
Hidalgo County
Hobbs
Hurley
Jal
Las Cruces
Las Vegas
Lea County
Lincoln County
Lordsburg
Los Alamos County
Los Lunas
Lovington
Luna County
McKinley County
Melrose
Mesilla
Milan

 

Mora County
Moriarty
Mountainair
Otero County
Peralta
Pojoaque Pueblo
Portales
Questa
Raton
Red River
Reserve
Rio Arriba County
Rio Rancho
Roswell
Ruidoso Downs
Sandoval County
San Jon
San Juan County
San Miguel County
Santa Clara
Santa Fe County
Santa Rosa
Sierra County
Silver City
Socorro
Socorro County
Springer
Sunland Park
Taos County
Torrance County
Town of Taos
Truth or Consequences
Tucumcari
Union County
Virden
Williamsburg

For information on the State of NM Economic Development Department’s LEDA- Capital Outlay Program, which is a separate program, please contact the Finance Development Team Leader:  Juan.Torres@state.nm.us or 505.827.0238