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.