N.M. Economic Development statement on New Mexico Fresh Foods
State Agency Press Release – From The New Mexico Economic Development Department
Feb. 8, 2024
New Mexico Fresh Foods applied for state of New Mexico economic assistance through the Local Economic Development (LEDA) Fund in 2019.
LEDA supports economic base manufacturing businesses that expand employment. The application was reviewed and met all criteria and an award up to $750,000 was approved in November 2020 with NMFF’s commitment to create 74 jobs over 5 years.
The EDD distributed a press release on Nov. 20, 2020: “EDD supports first-ever high-pressure food processing facility: technology will open markets for small NM growers.”
The project agreement between EDD, the business, and Bernalillo County structured the award so LEDA dollars would be awarded in phases as the business grows and hires new workers.
In 2022, owner business owner Kelly Egolf requested that a portion of the award be released. After analyzing the growth of NMFF the net fiscal impact of the operations of NMFF had achieved a benefit in excess of $150,000 to the taxpayers of New Mexico and EDD authorized the release of $150,000 in LEDA dollars in October 2022 to the business.
The company has also met some workforce training criteria established in the Job Training Incentive Program and qualified for reimbursement of training costs. After reviewing company documentation, the business has been awarded $78,361 in JTIP funds for the reimbursement costs of training 12 employees in 2021 and 2022.
Due to pending litigation, there will be no further comment.