MVEDA’s Business on the Border Luncheon this past Tuesday featured a group of commercial lenders who addressed some of the obstacles to obtaining financing faced by today’s business owners. Our panelists/speakers included Kim Hakes from Citizens Bank, Michael Cheney from Wells Fargo, and Clyde Hudson from USDA, each providing perspectives on the state of available financing in today’s economy. We thank them for taking their time and expertise they provided to the group. Access to financing is a subject matter that is not only important for the sustainability of all local businesses, but it is also extremely relevant with respect to economic development and business attraction.
Photo by Gabriel Vasquez, Las Cruces Bulletin
We find that as economic developers, we are being asked more and more to find localized financing solutions to companies looking at expanding into the region. This is a significant shift from just two years ago when the primary concerns of clients were workforce labor and real estate. Therefore it was positive to hear from our banking panelists that they were beginning to see a recovery in commercial lending and it was great to hear from Mr. Hudson how active USDA has been in their lending programs during these challenging economic times.
At MVEDA, we are also looking to identify and work with programs that might assist with business financing needs. We are also pro-actively marketing and promoting the business assets we have in the region that make us great destination for certain industries. In mid-March, MVEDA joined the Greater Las Cruces Chamber of Commerce and New Mexico State University as part of a delegation that went to Washington, D.C. to promote and support activities at White Sands Missile Range. In April, MVEDA will be participating in two aerospace tradeshows, Space Access 2010 in Phoenix, and the National Space Symposium in Colorado Springs. This is part of MVEDA’s continued support of Spaceport America and growing our commercial aerospace potential. Finally, in the last week of April, MVEDA will be attending the International Asset Management Council (IAMC) Conference which is made-up of leading site selection consultants and corporate real estate decision makers from throughout the country.
MVEDA’s lead generation is still very active led by the renewable energy cluster which makes up 34% of all of our leads for the year. This past month showed stronger industry balance in new leads generated with the biggest increase in lead generation found in the business/finance sector.
