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According to the Internal Revenue Service, opportunity zones were added to the tax code under The Tax Cuts and Jobs Act of 2017. The bill has come under some criticism for creating another big tax break for the ultra-wealthy.
The New Mexico Economic Development Department received the largest EDA grant for funding an economic development project in the state.
Grants awarded around New Mexico in 2020
| Grantee Name | Total EDA Project Funding | Grant Award Date |
|---|---|---|
| New Mexico Economic Development Department | $1,500,000 | Sept. 28 |
| Regents of New Mexico University | $1,000,000 | Sept. 2 |
| Northwest New Mexico Council of Governments | $988,400 | Sept. 17 |
| Gallup | $600,000 | Nov. 4 |
| DreamSpring | $500,000 | June 8 |
| Santa Fe Business Incubator | $400,000 | July 15 |
| Homewise, Inc. | $250,000 | June 3 |
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