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The main goal of economic development is to improve the economic well-being and quality of life for area residents by creating and retaining jobs, generating property tax revenues, and creating new and expanded opportunities for business. NMCOG works with the Economic Development Administration (EDA) of the U.S. Department of Commerce, the Executive Office of Housing and Economic Development (EOHED) and local communities to address these economic development issues on a regional and community-level basis.