Bosque Farms
has a modest amount of commercial activity along Highway 47, also known
as Bosque Farms Boulevard. The governing body greatly appreciates the contributions
these businesses make to the community. However, there are many vacant lots
and unused buildings along the Boulevard. It would be quite desirable to
bring in additional businesses to these properties and to promote the expansion
and retention of existing businesses in Bosque Farms. New businesses would
mean the potential for new employment opportunities, new places to shop,
and added tax revenue to the Village.
I took the initiative in 2005 to start an Economic Development Committee, with approval from the Governing Body. The Economic Development Committee is committed to enhancing economic development opportunities within the Village. The current members of the committee are:
This Economic Development Committee has had a number of accomplishments to date. They developed a proposal and applied to the New Mexico Economic Development Department (NMEDD) to establish Bosque Farms as a Certified Community. The proposal was successful and Bosque Farms is officially a Certified Community. This brings several things to Bosque Farms. First, the Village receives a grant of $5,000 each year from the NMEDD for being a Certified Community. The designation is good for two years, whereupon a renewal was required. We have been renewed every year since. The NMEDD grants the Village between $4,000 and $5,000 per year, depending on how much the legislature has given to the NMEDD for the CCI program. With the monies received to date the Village has developed a quality web site for economic development. (click here to access: http://bosquefarmsnm.gov/Econ_Dev) This is one of the most important things a community can do to enhance the potential for economic development. Most businesses these days do a lot of their up-front research into a community through the web before making a commitment to relocate. So a web site is a must. In addition, the grant money has also been used to produce promotional material to advertise the Village and its economic potential. The Certified Community designation also makes Bosque Farms eligible to participate with the New Mexico Partnership, a non-profit entity established by the NMEDD for the purpose of bringing out-of-state businesses to New Mexico. The New Mexico Partnership has a goal to bring 60% of the businesses to rural areas of the State, and Bosque Farms qualifies for that status. The Village has put forth a number of proposals to the NM Partnership to try to bring new business here. With the NMEDD CCI funds, Bosque Farms also hired an economic development consultant to prepare recommendations for economic development activities that might bear fruit. One of the recommendations was to organize a "Go To" event that would draw people to the Village and give us some name recognition. Bernalillo has their wine festival and Corrales has their arts and crafts fair. Bosque Farms needs something unique. Ideas would be most welcome. Volunteers to help organize an event would also be appreciated!
While developing the Certified Community Initiative proposal the committee also developed an economic development ordinance. The ordinance was recommended to the Council and passed into law. It gives the Village the potential to negotiate incentives with companies considering to locate in the Village.
The Committee was also successful in seeking marketing funds from the NMEDD to be used for outreach activities. This resulted in a $2,000 grant from the State.
The NMEDD web site is a good place to look for information on economic development initiatives: http://www.edd.state.nm.us