New Mexico: Opportunity Zones are Knocking
Monday, August 05, 2019
FOR IMMEDIATE RELEASE:
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SANTA FE, N.M. - The New Mexico Economic Development Department (NMEDD) hasunveiled a new website so local governments, investors, businesses, and propertyowners can take advantage and connect with Opportunity Zone resources.
The state, along with NMEDD, designated 63 Opportunity Zones in 22 counties as part ofthe U.S. Government’s Tax Cuts and Jobs Act of 2017. The purpose of the tax law is toattract capital investment into economically distressed areas in exchange for a reducedtax obligation.
“The Opportunity Zone program has the potential to transform parts of New Mexico andimpact communities for generations to come,” said Cabinet Secretary Alicia J. Keyes ofthe New Mexico Economic Development Department. “The state is working to educateand assist all 63 designated tracts to create an ecosystem that is open and ready forinvestment.”
Gov. Michelle Lujan Grisham
Cabinet Secretary Alicia J. Keyes
Deputy Secretary Jon Clark