New Mexico Economic Development Department: FUNDIT
FUNDIT brings together state and federal agencies with local officials in order to help communities in the state get complete funding for their projects. The program provides a centralized location to obtain financing from start to completion for projects that will help with job creation efforts and assist small business development.
FUNDIT was created to assist communities in accessing financing from a group of agencies simultaneously. This collaboration saves time and duplication, improves the effectiveness of project review and support, and ensures strategic investments with public resources. The federal and state agencies that are participating in the FUNDIT program will work together to analyze and compare proposals such as downtown revitalization, industrial parks, business incubators, housing projects, and infrastructure development.
Participating agencies include:
- Capital Outlay Unit, New Mexico Department of Finance and Administration
- Local Government Division, New Mexico Department of Finance and Administration
- New Mexico Councils of Governments/NewMARC
- New Mexico Economic Development Department
- New Mexico Environment Department
- New Mexico Department of Indian Affairs
- New Mexico Finance Authority
- New Mexico Energy, Minerals and Natural Resources Department
- U.S Small Business Administration
- U.S. Department of Agriculture, Rural Development
- New Mexico Mortgage Finance Authority
- New Mexico Department of Transportation
Amount: Not applicable.
Eligible projects include:
- Business development such as incubators, industrial parks
- Community development such as feasibility studies, comprehensive plans
- Infrastructure development such as capacity increase, update or replace current housing where there are critical shortages
- Downtown revitalization
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