September is here, and we have an incredible series for our readers! We’re celebrating Hispanic Heritage Month and we're highlighting an incredible initiative that helps create businesses in our area. The South Valley Economic Development Center is located in the cultural hub of the city and unbeknownst to most, has been helping make dreams come true for about 3 years now.
In 2015, the Albuquerque Leadership Foundation made an inaugural grant in the Economic & Workforce field-of-interest. Recent reporting has shown the important impact this grant has made for Spanish-speaking entrepreneurs in the South Valley.
Within the 12-month grant period, SVEDC gained 68 new clients and hit its maximum business incubator capacity.
Of the new clients:
- 54% identify as Hispanic or Latino;
- 29% are monolingual Spanish-speaking or consider Spanish their first language;
- 23% have a household income less than $20,000/year, and 29% with an income
between $20,001 - $24,999 and 5% with a household income over $100,000; and
- 57% are women, 5% are veterans, and 13% identify as having disabilities.
Since then the South Valley Economic Development Center underwent a management change and brought on Josue Olivares who with the help of an amazing team has begun cultivating numerous businesses in the city and state wide.
Although we are highlighting this organization for Hispanic heritage month, it is important to note that they do not limit their participants to Hispanic origins, nor do they require your business be from to serve the South Valley area. They do encourage and assist Hispanic owned businesses to reach their full potential and give every business aid there is to offer!
The South Valley Economic Development Center is an advocate of businesses that will stimulate our economy and want to see their participant’s businesses grow. They offer an inclusive, welcoming environment where Hispanic and non-Hispanic members feel safe, supportive and guided.
The SVEDC is the second largest incubation program, next to NMSU’s Arrowhead Center, meaning it has the capabilities to reach so many individuals and businesses in our community and state wide. Within it’s walls lies The Mixing Bowl, a kitchen for entrepreneurs. This is the home of the food -industry business incubation program. One of the largest commercial kitchens in the country at a whopping 3200 incubation program. One of the largest commercial kitchens in the country at a whopping 3200 incubation program. One of the largest commercial kitchens in the country at a whopping 3,200 sf space, they provide a strong incubation program for food producer entrepreneurs. The SVEDC empowers local growers and businesses by providing a site for manufacturing value-added products and establishing networks among businesses, growers, distributors, and retailers. By joining the incubation program, participants gain access to 55+ topic business training, one-on-one business and food consultant assistance, access to the commercial kitchen, access to the dry and cold storage facilities. Among other fantastic advantages, The Mixing Bowl Among other fantastic advantages, The Mixing Bowl provides state of the art distribution and co-packaging services and so much more to get any food related industry in the right direction for success.
The other two programs the SVEDC offers is the Virtual Incubation program and the Business Incubation program. The Virtual Incubation Program is the first step taken with the SVEDC where they can help you verify a viable business model from your idea to launch. With an excellent co-working area, the SVEDC offers receptions services, conference rooms and many businesses resources to ensure your start-up has everything covered before launch. The next resource available to up and coming businesses is the Business Incubation. Through the provided training, the facility and assistance the SVEDC gives entrepreneurs the unique advantage in the first 5 years of business.
The South Valley Economic Development Center (SVEDC) serves as a business and kitchen incubator, community facility, and coworking space (The Sandbox). The 17,000 square foot center offers flexible leases and rentals on office space, conference rooms, and facility use. A business mentorship program is also available through the SVEDC; apply online to participate.
Check the SVEDC Calendar for events and classes open to the public here