Opportunity Zones LEDA Job Bonus

To encourage development in NM Opportunity Zones, EDD is offering an incentive as a part of LEDA. New Mexico will guarantee an additional $1 million in LEDA funding to projects locating in an Opportunity Zone if they meet specific criteria:

• The project must be in one of the nine key industry sectors outlined by the Governor: aerospace, biosciences, cybersecurity, film & television, global trade, intelligent manufacturing, outdoor recreation, sustainable & green energy and sustainable value-added agriculture.
• Investment must create a minimum of $2.5 million dollars in annual payroll with average annual salaries greater than 2% above the county average as defined by the Bureau of Labor statistics QCEW Data; if located in Santa Fe, Albuquerque or Rio Rancho, investment must create a minimum of $3.5 million dollars in annual payroll with average annual salaries greater than 2% above the county average as defined by the Bureau of Labor statistics QCEW Data.
• Must commit to a 10-year agreement.
• Must have a capital investment of $10 million or higher; if located in Santa Fe, Albuquerque or Rio Rancho $15 million or higher.
• The project must be an expansion or out-of-state relocation