LEDA for Retail
On behalf of the Clovis City Commission, City of Clovis Economic Incentive Board, and Clovis Economic Development (CED), we welcome the opportunity to assist you in locating and/or expanding your business to Clovis, New Mexico.
CED is accepting applications for tax funding eligible under the Local Economic Development Act (LEDA). Potential projects include gross receipts reimbursement, investment in land, buildings, infrastructure, and other local economic development incentives for retail.
During the 2021 Legislative Session, the New Mexico State Legislature adopted Senate Bill 49, which changed the LEDA to allow municipalities with a population over 35,000 to utilize their municipal funding for retail in their communities. Now, LEDA allows municipalities, like the City of Clovis, to use a percentage of funding from gross receipts tax (GRT) to incentivize industry, as well as new and existing retail.
To qualify, projects must address the retail gap analysis as adopted by the Clovis City Commission. The level of support will be based on the identified retail gap addressed by the project, capital investment, wage rates, return on investment and the number of newly created or retained jobs.
Below are links to all of the documentation you will need to apply. Please review the Policies and Procedures prior to completing the application. CED staff and Small Business Development Center are here to assist you with any questions you might have regarding the application process and/or business plan development.
Please call the CED office at 866-963-6600 or 575-763-6600 if you have any specific eligibility questions.