This EDA investment supports the street food institute in albuquerque, new mexico with establishing a program, survive to thrive: new mexico food business success during covid-19, to support new and…

The Street Food Institute in Albuquerque, New Mexico will receive $500,000 through a Project Grant award from the Department of Commerce's Economic Development Administration (EDA) under the Economic Adjustment Assistance (EAA) program. The grant will fund the "Survive to Thrive: New Mexico Food Business Success During COVID-19" program to provide direct assistance to food businesses and their workers impacted by the economic downturn from the pandemic. Services will include helping entrepreneurs develop new strategies to strengthen resiliency against future disruptions. The program aims to support recovery in the region's hospitality industry, which was devastated by the pandemic, and make the economy more resilient overall. This is intended to spur private investment and job retention/creation throughout the region. The award was issued on March 23, 2022 to support these efforts through the Street Food Institute as the sub-awardee.

This EDA investment supports the street food institute in albuquerque, new mexico with establishing a program, survive to thrive: new mexico food business success during covid-19, to support new and existing food businesses as they recover from the economic impacts of the pandemic. New mexico's hospitality industry has been devastated by the pandemic and the impacts have forced hundreds of food businesses to close permanently throughout the region. The program will provide direct assistance to business owners and workers directly impacted by the downturn in these industries by helping restaurant entrepreneurs create new strategies to become more resilient in the event of future disruptions. Once completed, the project will assist in the region's recovery and make IT more resilient to fluctuations in tourism, which will help increase employment opportunities, save jobs, spur private investment, and advance economic resiliency throughout the region.