NM: Economic Security Bill Aims To Bring Back Employees, Create Jobs
26 Jan, 2021
- The maximum allowable grant to a business is $100,000, paid in quarterly installments, to be spent on lease or rent obligations.
- Funding is restricted to businesses operating in New Mexico with 75 or fewer employees per location and will be prioritized by the greatest percentage reduction in annual revenues with at least a 25 percent decline from 2019 to 2020.
- Businesses must be current on state and local tax obligations.
- The grant must be accompanied by job creation.
- Each new FTE qualifies the business for up to $5,000 toward the total award amount.
- The business must remain current on rent and lease obligations.
- Applications will be accepted until Dec. 31, 2021.