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NE New Mexico News

Saturday, November 23, 2024

EDA awards over $2 million in grants for economic development projects in Santa Fe County in 2020

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The US Economic Development Administration (EDA) awarded $2,677,654 total in Opportunity Zone grants in 2020 in order to fund economic development projects in Santa Fe County.

The largest grant awarded in the county was $1,877,654, to New Mexico Economic Development Department.

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 following table shows how much the EDA invested in projects in all counties in New Mexico in 2020.

Total awarded by county in New Mexico (2020)
RankCountyTotal
1Santa Fe County$2,677,654
2McKinley County$1,738,400
3Dona Ana County$1,250,000
4Bernalillo County$982,143

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