WASHINGTON, D.C. - Today, U.S. Senators Tom Udall and Martin Heinrich announced that New Mexico State University will receive $488,000 in grant funding from the Economic Development Administration (EDA) for a study on the creation of a health care delivery and medical technology development cluster at Arrowhead Park. The funding will help New Mexico State University expand activities at the multi-disciplinary Arrowhead Park to better support the creation of startup companies focused on improving health care for New Mexicans and diversify New Mexico’s economy.
"Arrowhead Park is a great example of how bringing together researchers and entrepreneurs helps new businesses to take off and thrive," Udall said. "This important investment in Arrowhead Park will help New Mexico businesses to innovate and diversify, creating new jobs for New Mexicans while improving health care services in the region."
“This investment will spur innovation, diversify southern New Mexico’s economy, and lay a foundation to address and improve the health care needs of our families – including those in our rural, Hispanic, and tribal communities who are some of our most medically underserved populations," Heinrich said. "Great things happen when businesses and researchers come together. I will continue to support opportunities like these to ensure our economy and communities thrive.”
The funding was awarded based on a competitive process through EDA's Science and Research Park Development Grant program, which helps regions plan the creation or expansion of innovation centers. Arrowhead Park, located on roughly 115 acres at the southern end of New Mexico State University, is a public-private partnership that connects researchers and entrepreneurs to boost development in New Mexico and the Southwest. The park provides an entrepreneurial environment that offers space, facilities and services for technology-based businesses to innovate.