U.S. Secretary of Commerce Don Evans Announces
$1 Million Economic Development Investment in New Mexico
U.S. Commerce Secretary Don Evans today
in Santa Fe touting President Bush’s economic plan, delivered
an economic development check totaling $1 million to the Santa Fe
Cumbres and Toltec Scenic Railroad Commission. The investment will
help rebuild the historic steam locomotives for a narrow gauge railroad
that carries tourists through the scenic San Juan Mountains and
the Carson National Forest between Chama, N.M., and Antonito, Colo.
“We all know government can't
create jobs, but it can set the stage for investment and innovation
through economic development grants like these,” said Evans.
“President Bush is committed to working with local communities
to grow the economy, create jobs and encourage investments in their
local areas.”
The investment supports the President's
Preserve America initiative that promotes the use of historic properties
and resources for successful economic development and heritage tourism.
The commission and the State of New Mexico matched the federal grant
with $250,000.
“These federal resources are
vital in terms of keeping the railroad viable this year, and I couldn’t
be more pleased with the EDA award. The railroad is a wonderful
tourist draw for the Chama region, and the railroad’s overall
economic and jobs impact cannot be underestimated,” U.S. Senator
Pete Domenici said. “I hope the commission can now move forward
on planning an aggressive 2003 season.”
Domenici met with commission members last fall and issued letters
of support for its grant application. The railroad experienced a
financial setback when drought and wildfire conditions forced it
to suspend operations last summer.
The
Commerce Department’s Economic Development Administration
(EDA) funded the investments. EDA serves as a venture capital resource
to meet the economic development needs of distressed communities
throughout the United States. EDA partners with states, units of
local government and community nonprofit organizations in economically
distressed areas, regions
and
communities in order to alleviate conditions of poverty and substantial
and persistent unemployment and underemployment.
Additional information on how EDA investments are helping distressed
communities create a positive and sustainable economic future can
be accessed at: http://www.doc.gov/eda.