University of New Mexico Secures $1.5 Million Grant for Innovate ABQ Factory

credit: Rediff

The University of New Mexico (UNM) has recently received a $1.5 million grant from the U.S. Economic Development Administration to help the school build an Innovate ABQ business factory.

Downtown's old First Baptist Church has been targeted for the project's long-term location. The grant will aid in establishing a new innovation center to anchor Innovate ABQ, a business factory initiative to pull in UNM researchers and Albuquerque's business community for tourism and job creation.

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Federal Programs Related to - Regional Economic Development

Programs that provide technical assistance, venture capital, loans, loan guarantees or other forms of management support to encourage the establishment and growth of business and industry in a particular region of the United States.

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Programs that provide technical assistance and funds to help communities retain and recycle income within the community by investing in the development of local institutions and businesses.

Business Growth; Business Loans; Economic Growth; Economic Transformation; Real Estate Organizations; Socioeconomic Development; Technology Transfer; Transfer of Technology; Urban Enterprise Zones

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Programs provide any of a wide variety of incentives to encourage new businesses and industries to locate in a particular community, to provide development and expansion opportunities for existing businesses, and to discourage existing businesses from leaving the area and relocating elsewhere.

Attraction of Business; Business Recruitment; Empowerment Zones; Enterprise Zones; Industrial Park Development; Media Production Liaison Services

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