NMSU’s economic development hub, Arrowhead Center, will receive $488,000 in grant funding to create a master development plan for Arrowhead Park that includes a health care technology cluster to better support startup companies focused on improving health care and technology development in the region and diversify the state’s economy.
One of only twelve awards nationally, the funding comes from the EDA’s Regional Innovation Strategies Program Science and Research Park Development Grant, which helps regions plan the creation or expansion of innovation centers. Arrowhead Park offers space, facilities and services for technology-based businesses and connects entrepreneurs to researchers.
The intensive planning effort will incorporate market analysis of the needs of this key sector in the region and guidelines for master-planned development of Arrowhead Park to meet identified demands.
“This award will have a significant impact on our work to create a sense of place for innovation in our region,” said Kathy Hansen, director of Arrowhead Center. “With this funding, we will be able to greatly expand our capacity to bring a single hub together with the talent and ventures that drive an innovation economy.”
Wayne Savage, executive director of Arrowhead Park, said the grant will provide the foundation for much-needed job growth and workforce development in the health care and medical technology industry sectors.
“Our goal,” Savage said, “is to develop Arrowhead Park as an innovation community that catalyzes a more effective, efficient health care delivery model for New Mexico and the region, and improved health overall for our underserved populations.”