South ABQ News

The coronavirus has taken a toll on the economies of rural economies in New Mexico, necessitating programs to bring relief, according to state Rep. Gail Armstrong (R-Magdalena).

Armstrong would like to see the Opportunity Zone program reopened as a vehicle to provide relief. There are 63 such zones in 22 counties in the state, according to the Economic Development Department. The program itself allows the governor to designate an area as an “Opportunity Zones,” which allows tax advantages. The advantages have been used to spur capital investment and provide help to disadvantaged areas in need of an economic boost.

Armstrong represents Catron, Socorro and Valencia counties. Of those, Valencia was the only county designated an “Opportunity Zone,” according to an article posted by the House GOP.

Armstrong wrote a letter, also posted by the GOP, to the New Mexico Congressional delegation requesting action on behalf of the rural counties. In addressing the rural zones, she wrote, “While Valencia County has a designated Opportunity Zone, there are numerous other areas throughout my legislative district that were either not ultimately selected during the original round of designations or were not given the opportunity to apply, or were never fully informed of the benefits of such a designation.”

Armstrong considers opening the program as a major step toward providing economic relief once the economy is reopened.

Armstrong also pointed out over half the state is made up of rural communities, asking the delegation to provide leadership and other innovative solutions.

In the letter, Armstrong said in view of the pandemic and current economy, state and national leaders should be working together on programs that will provide relief once the current shutdown comes to an end.

She hopes that those programs would speed economic recovery, and reopening the Opportunity Zone program is a vehicle that would go a long way toward setting that goal in motion.

Armstrong’s official request is for the delegation to sponsor legislation to reopen the application process and encourage colleagues to support the measure.