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What Happens Afterward?

  • Post published:November 16, 2022
  • Post category:News

What happens when companies who’ve received tax funded handouts as enticement to locate or expand their businesses in NM don’t produce the jobs promised? Normally, there are supposed to be accountability measures to protect taxpayer funds, if businesses do not fulfill requirements for jobs and other investments. But are they being enforced?

The amount legislators have provided the governor’s administration via the Local Economic Development Act (LEDA) has increased over the past years to $50 million dollars. This money has been flying out the door, but recent reports indicate that in many cases, state Economic Development officials ‘waived’ accountability requirements in cases of default. Read more HERE.