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Our Climate, Your Business. New Mexico has the Best Business Climate in the West for Manufacturing

Intelligent Manufacturing

A report released by Ernst & Young in January 2014, ranked New Mexico 1st in the west for manufacturers with the lowest effective tax rate for manufacturing. 

New Mexico is home to 3 national research facilities and 3 nationally-recognized research universities. The state is ranked 1st in non-industry investment in research and development, 2nd in high-tech jobs, and 7th in patents, providing unparalleled capacity for research collaboration and technology commercialization in many areas that contribute to advanced manufacturing (2017 State New Economy Index). New Mexico has many companies utilizing technologies spun out of these institutions. Education and research opportunities at these facilities contribute graduates in many fields including engineering, optics, nanotechnologies, physics, and manufacturing hardware and software development.

Research and development capacity, combined with plentiful natural resources, an excellent climate, low cost of doing business and aggressive job creation incentives equate to a growing manufacturing sector when other states are experiencing declines.  The New Mexico Small Business Assistance Program allows a business to use a scientist, engineer, or facility to test a product or develop a prototype.

Intel, Honeywell, General Mills, Jabil, Medlin Ramps, and Tempur-Pedic all have manufacturing facilities in New Mexico.

Related Incentives

  • Angel Investment Credit
  • Consumables Gross Receipts Tax Deduction for Manufacturers
  • High Wage Jobs Tax Credit
  • Investment Tax Credit for Manufacturers
  • Rural Jobs Tax Credit
  • Single Sales Factor
  • Trade Support Company in a Border Zone
Consumables used in the manufacturing of a product, including electricity and natural gas, are exempt from gross receipts tax.

 

 

NMEDD

New Mexico
Economic Development Department
Joseph M. Montoya Building
1100 S. St. Francis Drive
Santa Fe, NM 87505-4147

Mailing Address:
P.O. Box 20003
Santa Fe, NM 87504-5003

505-827-0300
Fax: 505-827-0328

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Why NM

  • Overview
  • Key Industries
  • Competitive Business Climate
  • Innovation
  • Borderplex
  • New Mexico Climate & Geography
  • Lifestyle
  • Case Studies
  • Community Partners
  • Photo Gallery

Business Development

  • Overview
  • Considering & Planning a Business
  • Starting a Business
  • Growing a Business
  • Resource Directory
  • Stay Informed: Newsletters & Webinars
  • COVID Resources

Site Selection

  • Overview
  • State Data Center Program
  • Find A Property
  • Census Data
  • Workforce Profile
  • Economic Statistics
  • 50 States Data & Incentives Comparisons
  • County Profiles
  • Tribal Profiles

Community Development

  • Overview
  • Local Economic Development Act
  • LEADS
  • FUNDIT
  • New Mexico MainStreet Program
  • Business Retention & Expansion
  • Business Incubator Certification
  • Local Government Planning Fund
  • Stay Informed: Weekly Newsletters & Webinars
  • COVID Relief Resources
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