New Mexico Economic Development Department (EDD) Cabinet Secretary Alicia J. Keyes announced Monday that the state has been awarded a $250,000 STEP grant from the U.S. Small Business Administration to help small businesses cultivate the global marketplace.
The State Trade Expansion Program (STEP) is an initiative that provides matching grants for states to assist eligible small businesses export their products. The program offers assistance with foreign trade show booth space, interpreters, export training programs, and the U.S. Department of Commerce’s Gold Key matchmaking services in major markets abroad.
Expanding global trade is a priority for Gov. Michelle Lujan Grisham as a means to further diversify New Mexico’s economy. The $250,000 award is the largest the state has ever received under the STEP program.
“There has never been a better time to introduce your business to the international marketplace,” EDD Cabinet Secretary Keyes said. “We are pleased to be able to provide guidance and support to our New Mexico businesses who want to grow with the aid of global sales.”
“Thanks to the SBA and New Mexico Economic Development Department, STEP has become the most effective program we have to support new-to-export small businesses,” Celeste Nuñez said, Director of International Business Resources for the New Mexico Trade Alliance. “We can’t wait to utilize this new round of funding to usher in New Mexico’s next generation of exporters.”
For more information, read the press release at edd.newmexico.gov.