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Gallup wins foreign investment certification

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First among eight

Greater Gallup Economic Development Corporation Board President Tommy Haws announced July 23 that the Trans-Atlantic Business Council  is awarding the Foreign Direct Investment Qualified Community Certification to GGEDC to help promote the Gallup-McKinley County market to foreign, specifically, European industries.

The Trans-Atlantic Business Council seeks to connect European industrial enterprises with American communities in efforts to develop distant yet promising economies.

“With the FDI community certification, TBIC will market Gallup-McKinley County to European manufacturing firms,” Executive Director Patty Lundstrom said. “The FDI community certification indicates that Gallup-McKinley County has the necessary education infrastructure, talent pool, community support and existing base of manufacturers to support new manufacturing.”

FDI Certification required a four stage review conducted over the course of six weeks involving development of a comprehensive community data set, responding to a sample request for information, a two-day community site visit, and a community workshop.

The FDI Certification complements GGEDC’s asset-based economic development strategy, which seeks economic growth by growing employment sectors such as logistics, distribution and warehousing, and manufacturing which rely on transportation assets such as rail and truck.

With FDI Certification, GGEDC will work closely with TBIC on FDI marketing efforts, including possible attendance at European trade shows on manufacturing.

GGEDC also received a $25,000 grant for business recruitment when it was selected by the NM Economic Development Department and its LEADS grant program to fund business recruitment and attraction efforts for Gallup-McKinley County. GGEDC is one of only three applicant organizations to receive full funding.

Grant funds will allow GGEDC to participate in national and international trade shows in support of the recently obtained FDI community certification, and visit national business site selectors targeting the sectors of logistics and supply chain, manufacturing, warehousing and distribution, and energy.

“Attendance at strategic FDI trade shows and focused outreach with influential site selectors puts GGEDC in front of businesses looking to expand into the U.S.,” Lundstrom said. “With the FDI community certification and our LEADS grant, GGEDC will be able to market McKinley County to the world.”

Staff Reports