New Mexico’s temperate climate makes life more fun and allows businesses to operate with ease. A very low incidence of natural disasters and extreme weather reduces risk and delays caused by weather events. Experience four seasons and enjoy a number of outdoor activities in the sunny climate and varied landscapes. Snow and water skiing, ice fishing, fly fishing, hiking, mountain biking, and camping under the moonlight in the national forest are all part of daily life in New Mexico.
Our tax policy will make your business even more profitable. New Mexico exempts raw materials used in manufacturing from gross receipts tax, including electricity and natural gas. Property tax is among the lowest in the nation. Corporate and individual income tax rates compare favorably, and the state offers many tax incentives to help your business thrive.
Just one of those incentive is the refundable Film Production Tax Credit, which annually generates $500 million in spending by film production companies in the state. Netflix and NBCUniversal have production studios in Albuquerque.
The Job Training Incentive Program (JTIP) has been serving businesses since 1972. JTIP reimburses 50 to 75% of your employees’ wages while they are in training.
LEDA, or the Local Economic Development Act, is New Mexico’s deal closing fund. LEDA investments provide the building and infrastructure your company needs in its ideal new location.
Cutting-edge research and technologies generated by three national laboratories and three nationally-recognized research universities offer unique resources to the business community. Companies can borrow a scientist from Los Alamos or Sandia National Laboratories through the NMSBA program. The Center for High Tech Materials and the Center for Integrated Nanotechnologies support manufacturing by offering access to their facilities. Created under the auspices of the Microlab Technology Commercialization Act, the Center for Collaboration & Commercialization (C3) serves as a “front-door” by giving businesses access to the equipment, facilities and personnel of the national laboratories.
Shop for technologies available for commercialization through a number of assistance offices and grow your own company. The Office of Science & Technology will assist you and has funding programs to help you commercialize a technology.
Access to the nation’s fastest growing markets via excellent transportation infrastructure and the state’s location in the heart of the Southwest has made the logistics industry one of the fastest growing in the state. The Borderplex offers a unique combination of logistics assets on the Mexican border at the Santa Teresa-San Jeronimo Port of Entry, including a 12 mile overweight cargo zone. Union Pacific opened a $400 million intermodal terminal on its Sunset Route in 2014.