New Mexico Offers $1 Million Bonus to Opportunity Zone Projects
Tuesday, August 27, 2019
The State of New Mexico has unveiled an incentive program for Opportunity Zone (OZ) projects and is offering a $1 million bonus to investments that meet certain benchmarks, Economic Development Cabinet Secretary Alicia J. Keyes said.
Keyes said the $1-million OZ Jobs Bonus shows that Opportunity Zone investments are a key strategy for Gov. Michelle Lujan Grisham as the state diversifies its economy. The federal tax initiative to stimulate development in lower-income neighborhoods can be a huge catalyst in New Mexico where it can be difficult to attract outside financing.