- Associated Press - Wednesday, April 1, 2015

SANTA FE, N.M. (AP) - New Mexico economic development officials have unveiled a new grant program aimed at boosting job creation and encouraging startup activities.

Economic Development Secretary Jon Barela says the Local Economic Assistance and Development Support program allows the state to supplement the work of local communities that are looking to diversify their economy.

He says by identifying viable economic development projects, the state can stretch and target limited resources.

Funding criteria for the program will be measured on whether a project can help recruit, retain or create jobs; develop the tax base; or encourage business development.

State officials will be accepting applications through May 1. The submissions will be reviewed and Barela will make a final decision on which projects are funded.

Selected projects will have to be completed before June 2016.

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