North Central NM Economic Development DIstrict Revenue and Competitors

North Central New Mexico Economic Development District (NCNMEDD) is an association of local units of government and other organizations created to encourage and allow regional cooperation on a multitude of issues.\r\n\r\nNCNMEDD and U.S. Economic Development Administration\r\nFormation of the District came about as a result of passage of the Public Works and Economic Development Act (Public Law 89-136) by the U. S. Congress in 1965. This legislation permitted designated counties to form non-profit entities for the purpose of promoting the socioeconomic environment of its members. It also created the Economic Development Administration under the U. S. Department of Commerce. The purpose of EDA is to provide a vehicle for the delivery of financial and technical assistance to economically depressed areas throughout the nation. \r\n\r\nFormed under the authority of the Joint Powers Agreement Act, Section 4-22-1 to 4-22-7, New Mexico State Statues Annotated, 1953 Compilation, funding from EDA for District programs began in September, 1967, and has been renewed each year. Counties and incorporated municipalities provide cash and in-kind funding, which provide matching for federal funds for program administration.