Established creative businesses in New Mexico can apply for state grants up to $25,000. The Business Development & Expansion Grant Program, administered by the New Mexico Economic Development Department’s Creative Industries Division, is open to for-profit creative businesses with at least three years of operational history.

The Business Development & Expansion Grant Program aims to help small creative enterprises use state funding for tangible growth that positions them competitively with other enterprises.

To be eligible, businesses must be for-profit entities that have been in operation for at least three years and be in good standing with the State of New Mexico.

Funds can be used for the purchase of inventory, equipment, marketing, and improvements to infrastructure and technology. Awarded grants must help strengthen the business’s capacity for measuring impact, engagement, evaluation, and economic contributions. Funds can not be used to hire full-time staff.

Prospective applicants will be asked to describe their plans to leverage potential grant funding for greater returns on investment. Awards up to $25,000 are anticipated.

Preferential points are be given to businesses with fewer than ten employees, including part-time staff, and to businesses located in rural areas. Eligible businesses are identified in the grant FAQ, division statute by industry area, and corresponding NAICS codes available in Appendix C on page 206 of the 2024 Division Study, according to the Economic Development Department.

Applicants may apply for one cycle per fiscal year, which runs from July 1 to June 30. Cycle 1, which is now open, closes at 6 pm MT on December 26, 2025. Cycle 2 opens on February 2, 2026, and closes at 6 pm MT on February 27, 2026. A taped webinar, found on the New Mexico Economic Development Department’s YouTube channel, offers information about how to submit the best application possible.

Read the FAQ and apply.

The NM Economic Development Department helps businesses and communities thrive through numerous tax and hiring incentives and support programs such as this one.