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 Greetings!Welcome the revitalized New Mexico Regional Development Corporation newsletter. We hope to keep it informative, interesting, and useful. Be sure to let us know if you have any comments or suggestions.
What is the RDC?
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. Its principal service areas are Los Alamos, Rio Arriba, Santa Fe, Taos, San Miguel, Mora and Sandoval counties. Visit the RDC Website
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Venture Acceleration Fund
Three Companies Funded
The Venture Acceleration Fund provides initial funding to help Northern New Mexico companies commercialize a product. The Venture Acceleration Fund is funded by Los Alamos National Security, LLC (LANS), the company that manages Los Alamos National Laboratory (LANL) and the local governments of the Regional Economic Development Initiative (REDI). The Regional Development Corporation (RDC) manages the VAF which makes awards of up to$100,000 to companies located in the counties of Los Alamos, Santa Fe, Sandoval, Rio Arriba, Taos, San Miguel, and Mora.
In the first quarter of 2012, twenty-one companies applied for funding through the VAF. The RDC, LANS and REDI are extremely encouraged by the number of companies and new products presented in this years' application process and congratulate those companies who were selected for awards from the fund: Integrative Enzymatics, Vapour Organic Beauty of Taos, and HydroBio of Santa Fe.
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Business Readiness Survey
Encouraging Results
In 2011, the RDC was asked by communities of the region to assess economic competitiveness. A study was commissioned to look at quality and quantity of available workers and skills, housing costs, and infrastructure in the region from the viewpoint of potential business relocation and/or growth. The results of the surveys were then benchmarked against similar communities. The study was performed by JBA & Associates, LLC (Jack Allston). Click to read more. |
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First Year of Accelerate a Great Success
Technical Training and Job Placement Program
The goal of Accelerate is to increase the graduation rates of non-traditional students in certificate and two year technical degree programs in Northern New Mexico and to place those students in jobs. A joint initiative of the Regional Development Corporation * and six Northern New Mexico colleges, Accelerate offers an innovative approach to address major barriers to degree completion and was designed based on the priorities of the communities of Northern New Mexico for training of people for the jobs that are in demand. Click to read more. *Funding for Accelerate TTJP is provided by a grant from the U.S. Department of Energy, Office of Environmental Management, and by contributions from colleges, the RDC, and regional employers. |
RDC Strategic Plan
Board Approves 2012-2017 Plan
The RDC would like to thank the communities and partners who joined us in March to provide important input about the role RDC should play in Northern New Mexico economic development. Over 30 participants from the northern New Mexico communities; Taos, Santa Fe, Los Alamos, Espanola, several pueblos, as well as LANL and other organizations generously gave us their time. Participants were asked to identify the strengths, weaknesses, opportunities and threats that the RDC faces in providing services to its communities. Several strong themes emerged from the group. Click to read more |
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About Us The RDC oversees a number of small business orientated programs in Northern New Mexico, including Northern NM Connect ( NNMConnect.net) , Northern New Mexico 20/20 ( nnm2020.org) and Regional Economic Development Initiative ( NNMREDI.org). Sincerely, Kathy Keith
Executive Director
kathy@rdcnm.org 505-820-0402 |
Venture Acceleration Fund (Continued from above)
Integrative Enzymatics - Treatment for diabetics -
Integrative Enzymatics was founded in 2011 by a group from MIT and Johns Hopkins University, and is currently located in the Santa Fe Business Incubator. A $70,000 award will fund studies for a new pharmaceutical to treat Type I diabetes. This new drug has the potential to slow the progression of the disease and secondary complication such as kidney disease, osteoporosis, and cardiovascular, nerve and eye damage.
Visit Integrative Enzymatics' website Back to top
Vapour Organic Beauty of Taos - Taos-based beauty products -
Vapour Organic Beauty, headquartered in Taos, was given $50,000 in funding to meet requirements for registration in the European Union. EU registration will enable the company to sell its luxury organic cosmetics to retailers in EU countries. The company estimates the EU registration will allow it to hire additional employees in Taos within the next year.
"Vapour Organic Beauty is a brand that embraces the beauty, artistry and values of northern New Mexico," says Krysia Bonis, CEO. "We are proud to use VAF funding to share our values with the world."
Visit Vapour Organic Beauty's website Back to top
HydroBio of Santa Fe - Agricultural irrigation improvements -
HydroBio, a Santa Fe based company, was awarded $75,000 for additional programming and testing of computer algorithms, calibration of algorithms for specific crops, and online web interface and market development. HydroBio has worked with agricultural partners in throughout the west on research and development to expedite the savings of millions of acre-feet of water and billions of dollars in energy costs.
Visit Hydrobio's website Back to top
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Accelerate Job Training (Continued from above)Last summer 120 students attending six Northern New Mexico colleges enrolled in the Accelerate program's first cohort. At that time, none of the participants knew what to expect. The first step in the program involved committing to a summer Math Boot Camp. This specially designed math program uses real-world applications to increase math skills in order to accelerate students through remedial math courses so they can begin degree-related coursework.  Now, with last year's Math Boot Camp well behind them, students find that they were fortunate to have participated. The majority have either graduated, decided to continue their education and pursue four year degrees, or are continuing on in the second year of the Accelerate program. The program supports non-traditional students and transitional workers who want to retrain and retool their skills for current workforce needs in technology-related fields. In addition to Math Camp, the program assigns each student a Career Technical Advisor who provides on-going assistance so they will succeed in meeting their educational and career goals, and hosts a series of Professional Development and Professional Readiness events throughout the year. Accelerate also offers paid internships, tuition assistance, financial incentives, and stipends. Feedback from students indicates the program has hit on a successful formula. "Accelerate has been a wonderful opportunity to grow and meet other employers that have scholarship and other internship opportunities. It has also prepared me for interviews and I have obtained job skills through the program. It has been a great opportunity to network and meet other students and receive advisement," said Santana Garcia-Chang, a pre-engineering student at UNM - Los Alamos. Thirty-three internship positions were filled by Accelerate students in the program's first year, and some of those have resulted in offers for paid positions. Kiko Rael, a Northern New Mexico College student on track to earn his Associates degree in radiation protection, was placed in an internship program with Los Alamos National Labs (LANL). His internship lead to a full-time job offer from LANL as a Radiation Control Technician - even before Rael earned his diploma. Rael plans to complete his degree online. This spring, 23 students from the first Accelerate cohort walked across the stage to receive diplomas in their technical degree areas. Additionally, 13 students are expected to graduate this summer and fall. Of those graduating, 11 have been placed in jobs, two have earned Registered Nursing degrees and are waiting to take their Board exams, and 19 more, an impressive 53%, are transferring to other colleges or continuing at the same college to pursue four year degrees. In August, Accelerate will recruit a new class of 120 cohorts. Seventy-nine students from last year's cohort are expected to continue in the program. If last year's program is any indication, this year's students have a lot to look forward to. According to Gabrielle Fresquez, an Accelerate program student at UNM- Los Alamos, "I can't wait to start Accelerate again for the second year and learn more about how to better myself in the work place so that I will feel more confident about getting a good job and going to interviews." Visit Accelerate New Mexico's website Back to top
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Business Readiness Survey (Continued from above)
The results of the study were very encouraging. Northern New Mexico ranked average and frequently good related to the available labor pool. However, some concerns were expressed related to infrastructure; roads, air travel, broad band, etc. And as we all know, our gross receipts tax is troublesome to certain industries.
Based on this study they recommended that we focus on the following clusters as primary targets. - Cyber-security, Defense/Homeland Security Information Technology
- Modeling, Simulation, and Gaming Related Fields
- Advanced Energy (includes not only solar, but also clean technologies in fossil fuels and nuclear)
- Digital Media and Film
- Biotechnology and Pharmaceutical R&D and start-ups
Secondary targets identified were the following. - Fulfillment/technical support/back office operations
- Defense electronics (highly advantageous for locations inside pueblos)
- Wine industry
- Recreational equipment: maintenance and repair
They also made several recommendations to the RDC which are being incorporated into the five year Strategic Plan.
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RDC Strategic Plan (Continued from above)The strategic plan included a competitive analysis of the RDC: - STRENGTHS: The group felt that the RDC is a very professional, knowledgeable organization and has a good relationship with LANL.
- WEAKNESSES: The RDC needs to make sure that its services are known to any and all who might benefit from them. There also is a major concern about lack of adequate funding.
- OPPORTUNITIES: To continue to build its relationship with the regions' partners
- THREATS: The economic downturn will continue to challenge the RDC for adequate funding.
Based on this feedback, the strategic plan for 2012 - 2017 includes the following. - COLLABORATION, Work in cooperation with other entities to achieve our vision
- Meet the needs of local governments
- Form partnerships with local organizations and institutions wanting common outcomes
- Bring in external resources which can be of assistance to the region
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- SUSTAINABILITY, Create a healthy organization capable of leveraging new and diverse resources into the region.
- Maintain positive cash flow and outstanding fiscal management
- Insure that operational/overhead costs are fair and adequate
- Diversify funding sources
- Successfully tell the story of our impact
- JOB CREATION, Create new jobs in the region which will further economic growth.
- Continue to develop programs which assist the start-up of new high growth companies in northern New Mexico
- Create an image/brand of northern New Mexico as a vital ecosystem for new company development
- Support community based entrepreneurship in rural areas
- Expand and retain existing companies through retention and development strategies
- Implement a targeted marketing program that communicates the comparative advantages of northern New Mexico
- Develop programs and systems for meeting employers workforce needs
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