SANTA FE– Secretary of Economic Development Jon Barela announced today that the New Mexico Angels and New Mexico Community Capital have provided $200,000 in equity and debt funding to Preferred Produce, Inc., a Deming- based company that grows “Certified Organic” produce. The capital investment will go toward doubling the size of the company’s greenhouse and add five new jobs to their existing staff of twelve by October 2012.
“Governor Martinez and I are thrilled with the news that New Mexico investors saw fit to invest in not only this growing, small business but also in Southwestern New Mexico where agriculture is an important industry for the region,” said Jon Barela, Cabinet Secretary for Economic Development. “We applaud Preferred Produce, the New Mexico Angels and New Mexico Community Capital for making this significant contribution to creating jobs in Deming.”
Preferred Produce, Inc. is a local, sustainable, and socially responsible agricultural business. They pick their produce only when it is ripe and delivery it fresh within 48 hours of harvesting. Not only are its products free of chemical fertilizers and pesticides, but their state-of-the-art greenhouses allow for organic growing methods year-round. The certified organic produce can be found in local markets and Whole Foods stores around the Southwest.
Preferred Produce CEO, Dr. Matt Stong, said, “With the prompt financial support I received from New Mexico Community Capital and the New Mexico Angels, I will be able to meet the demand of my customers and expand our company to create jobs for New Mexicans.”
The New Mexico Angels, is an angel-investment group that actively invests in regional start-ups while providing industry experience and coaching to the funded entrepreneurs. The Angels also have a number of educational programs available to the business community. Funding was also provided by the New Mexico Community Capital, a private, nonprofit Community Development Financial Institution that supplies capital and knowledge for New Mexico’s high-potential businesses in emerging or underserved markets. For more information on The New Mexico Angels or New Mexico Community Capital visit www.NMAngels.com or www.nmccap.org.