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Santa Fe EDC introduces new executive director, outlines incentives and BEAR grant priorities
Summary
The Santa Fe Economic Development Corporation introduced Devin Depasco as its new executive director; Depasco outlined short-term priorities including an incentive policy, streamlining processes and adjustments to the BEAR grant program.
The Santa Fe Economic Development Corporation's board president, Bob Wiley, introduced Devin Depasco to the City Council on April 10 as the EDC's new executive director. Depasco said he had been on the job about two weeks and described early priorities for the EDC.
"You guys are in the way of predictable growth," Depasco told the council, and said the EDC should choose whether to be reactive or proactive. He identified three near-term priorities: raise the operational floor for the EDC; create an incentive policy; and streamline internal processes (including facility- and data-related materials, such as the EDC website) to make Santa Fe easier to market to developers and site selectors.
Depasco said the EDC had launched a Facebook page and would pursue LinkedIn for external marketing. He encouraged prospective businesses to use the city EDC webpage (santafatex.gov/economic) and said he would be accessible on LinkedIn.
Council members asked about the BEAR grant program (business incentives discussed by the EDC). Depasco said he supports reinvesting incentives into "hard assets" such as façade improvements and utility connections that remain in the community if a business relocates or leaves, rather than unconstrained cash grants. He said a few tweaks in messaging and program design could help target investment toward long-term community benefit.
Board president Bob Wiley said the EDC had been searching for the right candidate and that Depasco had begun work immediately. Council members thanked both and asked staff and EDC to continue examining equitable outreach to businesses not affiliated with the Chamber of Commerce.
