New Mexico Farm receives LEDA funds to expand feed store
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TORRANCE COUNTY, N.M. (KRQE) – More than $100,000 in state funds are going to a Torrance County family farm looking to grow a business in rural New Mexico.
The New Mexico Economic Development Department awarded Sanchez Farms $150,000 to help them expand their farm and store.
The funds from the Local Economic Development Act (LEDA) are for retail projects in communities with a population of 15,000 or fewer. To receive the grant, the new stores must not compete with an existing business in the community.
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“The importance of getting these funds is that it helps make investment in a rural-urban economy,” said Javier Sanchez, owner of Sanchez Farms.
With this funding, Sanchez Farms plans to expand the services it offers at its Estancia supply store.
“When we dream about the store, we dream about a welding shop; we dream about a tire shop,” said Sanchez.
The farm also hopes to open another hardware and feed store, possibly in Mountainair, Manzano, Torreón, or Tajique.
The goal is to offer more places for rural communities to get the supplies they need.
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The financial boost would also help free up cash to buy more farm equipment
“We hope to be able to invest in a pallet mill to mill our own feed since we grow the crops, the staple crops, to be able to mill feed,” said Sanchez.
Sanchez said the grant is a win for their business and the community.
“It also shows that state government is very much interested in rural New Mexico as well,” said Sanchez.
