City of Santa Fe, Mayor, and Office of Economic Development Announce Successful Conclusion of Second Street Brewery LEDA Project

City of Santa Fe, Mayor, and Office of Economic Development Announce Successful Conclusion of Second Street Brewery LEDA Project

The City of Santa Fe, in collaboration with the Mayor's Office and the Office of Economic Development, announced the successful conclusion of the Local Economic Development Act (LEDA) project with Second Street Brewery.

The project, initiated in 2017, involved a Project Participation Agreement (PPA) between the City and Second Street Brewery, as well as an Intergovernmental Agreement (IGA) with the New Mexico Economic Development Department (NM EDD).

Since its inception, Second Street Brewery has consistently operated successfully, including throughout the challenges of the COVID-19 pandemic. The brewery has been a significant contributor to the local economy, supporting employment levels and generating substantial economic benefits for the City of Santa Fe, Santa Fe County, and the State of New Mexico.

An independent economic impact analysis conducted by NM EDD through 2023 revealed the following:

• State of New Mexico: Over $1.7 million in direct fiscal benefit.
• City of Santa Fe: Over $1 million in direct fiscal benefit.
• Santa Fe County: Over $500,000 in direct fiscal benefit.

This translates to a remarkable total fiscal impact of $3.3 million

Second Street Brewery and NM EDD will maintain their productive relationship, with the brewery continuing to report employment levels and economic activity through 2027.

"The success of this LEDA project with Second Street Brewery is a testament to the power of public-private partnerships," stated Casey Dalbor, Business Growth Manager. "This collaboration has not only fueled economic growth but also enriched our community, demonstrating the effectiveness of our strategic economic development initiatives."

NM EDD expressed gratitude to the City of Santa Fe for its invaluable support and partnership throughout this project and eagerly anticipates future collaborative efforts.

Contact: The Office of Economic Development for additional information
Johanna Nelson, CEcD
Director, Office of Economic Development
[email protected]
505-699-7003

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