Opportunity Zones are meant to spur economic development and job creation in distressed communities by providing tax benefits to investors. Investors receive capital-gains tax deferral, reduction in basis for long-term investments, and other tax incentives. Investments made by individuals through Qualified Opportunity Funds in these zones would be allowed to defer or eliminate federal taxes on capital gains. Investors can get the tax benefits, even if they don’t live, work, or have a business in an Opportunity Zone.

In Albuquerque, 14 census tracts were designated as Opportunity Zones for the next 10 years, through 2026. The City of Albuquerque is committed to taking full advantage of the Opportunity Zone benefits and is proactively working with investors, developers, businesses, and other stakeholders to provide information and assistance. Investments are not administered or overseen by the City of Albuquerque.

Learn more about Opportunity Zones in New Mexico from the New Mexico Economic Development Department.