The New Mexico State Trade Expansion Program (STEP) helps businesses expand into new markets or begin exporting by reimbursing eligible costs such as securing foreign trade show booth space, hiring interpreters, and attending export training programs. The program also offers the U.S. Department of Commerce’s Gold Key matchmaking services in major markets abroad.

The program is administered by the New Mexico International Trade Alliance, a 501(c)(6) economic development nonprofit organization based in Albuquerque.

To be eligible, companies must be registered in New Mexico, have been operational for a minimum of one year, and anticipate export of a product or service made of at least 51 percent U.S. content. Grants range from $5,000 to $7,500 and are dependent on the availability of funds. In October 2022, the program received an influx of $250,000 from the U.S. Small Business Administration for grants to eligible businesses with fewer than 500 employees.

Companies interested in NM STEP grant funds are encouraged to first schedule a consultation to learn more about the program, discuss current business activity, determine export readiness, brainstorm eligible STEP activities, and learn about other New Mexico export resources. Application forms for 2022 fiscal year grants are available after the consultation.

Eligible activities covered under the STEP grant include participation in a foreign trade show or foreign trade mission, global website optimization, international business matchmaking, international market research, and foreign product registration.

Two sales missions — one to Hannover, Germany and one to Asia — are planned. Grants of up to $7,500 will be made to eligible companies wishing to participate in a sales mission.

To begin the application process, visit the NM STEP grant web page to schedule a consultation.