Heinrich Unveils N.M. Minority Business Development Center’s New Office in Albuquerque

Heinrich was instrumental in establishing and standing up the Minority Business Development Center in New Mexico

ALBUQUERQUE, N.M. - U.S. Senator Martin Heinrich (D-N.M.), Chairman of the U.S. Joint Economic Committee, joined Albuquerque Mayor Tim Keller, community leaders, and small business owners to unveil a new, larger office space for the New Mexico Minority Business Development Center (Business Center) as part of a new Business Resource Center that will also house the City of Albuquerque's Small Business Office.

Heinrich wrote the legislative provision that established and funded the New Mexico Business Center in 2020, securing more than $2.5 million in federal resources through the U.S. Department of Commerce's Minority Business Development Agency for its staffing and programming.

U.S. Senator Martin Heinrich (D-N.M.) participates in a ribbon cutting ceremony to welcome the newly expanded office space for the New Mexico MBDC in Albuquerque, October 10, 2024.

"Local businesses are the beating hearts of our communities and backbone of our economy. That's why, four years ago, I wrote the federal legislative provision that re-opened New Mexico's Minority Business Development Center and fought to fund its operations. And it's why I am so pleased to celebrate this expanded Center in Albuquerque and the locations now open in Las Vegas and Las Cruces," said Heinrich. "With the $2.5 million-plus in federal resources I've been able to deliver, we are expanding support for local businesses across our state as they create the types of careers New Mexicans can build their families around, in their home communities."

Background:

The federal Minority Business Development Agency's (MBDA) mission is to promote the growth and global competitiveness of Minority Business Enterprises (MBE) in order to unlock the country's full economic potential. The MBDA supports a national network of Business Centers and technical assistance programs that help entrepreneurs and small business owners overcome obstacles and grow their businesses.

In 2018, New Mexico's previous Minority Business Development Center closed. In 2020, Heinrich authored report language in Fiscal Year (FY) 2021 Appropriations Bills that required the U.S. Commerce Department's Minority Business Development Agency to re-open a new Business Center in New Mexico.

Heinrich then worked closely with the City of Albuquerque and the Albuquerque Hispano Chamber of Commerce to secure an initial $300,000 in federal funding to help establish the new Business Center, along with delivering $1.875 million in federal funding to support the first five years of its operations.

In subsequent funding cycles, Heinrich has secured additional federal resources to expand the staffing and services offered by the Minority Business Development Agency in New Mexico.

In the FY2023 Appropriations Bills, Heinrich secured $200,000 in Congressionally Directed Spending (CDS) to help the Business Center hire two more business advisors based in Las Cruces and expand the reach of their services throughout New Mexico.

In the FY2024 Appropriations Bills, Heinrich secured an additional $200,000 CDS to help the Business Center launch a new technical assistance project that will provide professional business development services to support and promote the growth and success of minority-owned businesses across the state.

Earlier this year, Heinrich included $300,000 in Congressionally Directed Spending within the FY2025 Financial Services and General Government Appropriations Bill, which advanced out of the Senate Appropriations Committee in August, to help the Business Center create a Food and Beverage "New to Export" Cohort that will provide comprehensive support to business enterprises looking to export their products.

Heinrich recently welcomed the opening of a new Minority Business Development Centerin Las Cruces, thanks to the federal funding he secured in the FY2023 Appropriations Bills, and an additional $183,000 award from the MBDA and $20,000 from the City of Albuquerque to open a new Rural Minority Business Development Center in Las Vegas.

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