You’re looking for a great place to locate your business. A place where you can get the financial and technical resources you need. A place with a skilled workforce and access to trade corridors that keep you connected with the world. A place with an entrepreneurial spirit and leaders who know the importance of attracting and sustaining business. Look no further. New Mexico incentive packages are some of the most aggressive in the U.S. A partial list includes:Job Training Incentive Program
Widely regarded as one of the most effective in the country, this program funds on-the-job and classroom training for newly created jobs in qualified expanding or relocating businesses for up to six months. The program reimburses a portion of employee wages. Custom training at a New Mexico public educational institution may also be covered.High Wage Jobs Tax Credit
This credit gives companies who hire employees at salaries of $28K or higher in rural areas, and $40K or higher in urban communities, tax credits equal to ten percent of the combined salary and benefits package for the year in which the job is created, and for the three qualifying periods following.Industrial Revenue Bonds
Our communities can issue IRBs to exempt a substantial portion of a company’s property taxes on land, buildings and equipment. In addition, the IRB provides a complete exemption for compensating taxes on equipment, generating approximately six percent savings.Rural Jobs Tax Credit
Employers receive a credit of $1,000 for each qualifying job the employer creates, for four consecutive years in communities of less than 15,000 residents, and two consecutive years in non-MSA communities of more than 15,000 residents.Manufacturer’s Investment Tax Credit
Manufacturers may take a tax credit of five percent of the value of qualified equipment and other property used in their operation. The credit can be applied against compensating, gross receipts or withholding tax up to 85% of the total. Any remaining available credit may be claimed in subsequent reporting periods.Alternative Energy Product Manufacturer’s Tax Credit
Manufacturers of photovoltaic, solar, thermal, wind, biomass and electric generation systems, electric or hybrid vehicles, and fuel cell systems may receive a tax credit of up to five percent of their capital expenses. The credit may be applied against gross receipts, compensating, or withholding tax and may be carried forward for up to five years.