THE REGIONAL DEVELOPMENT CORPORATION
The RDC is a regional economic development organization for Northern New Mexico, focused on creating a diverse and sustainable economy. The RDC works collaboratively to create new jobs in the region by strengthening services to businesses and developing the infrastructure, public policy and workforce to support job growth. Our principal service areas are Los Alamos, Rio Arriba, Santa Fe, Taos, San Miguel, Mora and Sandoval counties. The RDC works collaboratively to create new jobs in the region by strengthening services to businesses and developing the infrastructure, public policy and workforce to support job growth.
WORKING TO ADVANCE ECONOMIC DEVELOPMENT SINCE 1997
Regional Economic Development Initiative (REDI)
The RDC has been administrator of the REDI plan since its inception in 2008 as a long-term, 25-year strategy for economic development in the region. Now ten years in, we have made significant progress in implementing aspects of the plan including a $74 million REDINet regional broadband initiative, Economic Development Services, Cluster Strategies, and a Public-Private Partnership to sustain the effort.
The annual REDI conference was held on September 21, 2017 with the theme, “Navigating Our Economic Future.” U.S. Rep. Ben Ray Luján delivered the welcome address at the REDI Summit. and U.S. Rep. Michelle Lujan Grisham was the keynote speaker. Attendees also heard from New Mexico Economic Development Department Deputy Cabinet Secretary Barbara Brazil, Northern New Mexico College President Dr. Richard Bailey Jr. and several regional representatives. Read more >>
Venture Acceleration Fund (VAF)
The VAF is the only non-dilutive local source of seed financing for very early stage technology and manufacturing startups in Northern New Mexico. The funding fills a unique niche in that it supports technology-based and manufacturing companies that lack collateral for debt financing and are not ready for Angel or Venture Capital funding.
The call for VAF applications goes out once a year, typically in February, and the application submittal deadline is in March. Maximum funding amounts, eligibility requirements, and terms and conditions are subject to change each year.
From its inception in 2006 through 2016, the VAF has a cumulative ROI of $160.7 million from investments totaling $4.2 million.
Native American Venture Acceleration Fund (NAVAF)
The NAVAF was created to boost employment and diversify the economy in Northern New Mexico, and makes awards to tribally owned companies for critical technical services that lead to leveraged revenue, job creation and diversification.
Los Alamos National Security, LLC, the company that manages Los Alamos National Laboratory (LANL) and the Regional Development Corporation (RDC) established the fund in 2011 as part of their investment in the Northern New Mexico economy.
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