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New Mexico Resources Page
Inward Investment Guides

STEM Talent Needed to Employ Additive Manufacturing Technologies and Advance Innovation

Geraldine Gambale, Editor, Area Development Magazine (Q3 2014)
According to a PwC study, additive manufacturing or 3DP is becoming mainstream; it has the potential to add to the nation’s global competitiveness, but challenges — including finding those with the skills to employ these new technologies — must also be addressed. More

Location Notebook: Union Pacific Intermodal Opens in Santa Teresa, New Mexico

Tim Feemster, Managing Principal, Foremost Quality Logistics (Q3 2014)
The $400 million investment for the 2,200-acre site will connect businesses to strategic markets in the southwestern U.S. and beyond. It will provide logistics gains for shippers along its Sunset Line, which runs 760 miles from El Paso, Texas, to Los Angeles and serves key locations in Mexico and Arizona. More

New Mexico Direct Financial Incentives 2014

Area Development Online Research Desk (Q1 2014)
New Mexico's economic development, finance and tax organizations provide a range of incentive programs to initiate new business and commercial investment. More

Manufacturing in America: Bigger, Better and Bolder

Mark Crawford (Q1 2014)
American manufacturing is on the upswing, with advances in innovation and productivity buoyed by decreased energy and transportation costs, and new efforts to increase work force skills. More

Regional Report: Reaching for the Stars in the Southwest

Steve Stackhouse-Kaelble (Directory 2014)
Most of the Southwest is enjoying better job growth than the nation as a whole, and all of these states have ramped up their economic development efforts. More

A Look Back - and Ahead - at the 2013/2014 Legislative and Incentives Landscape

Jason Hickey, President, Hickey & Associates, LLC (Directory 2014)
From what we witnessed in 2013, we can only expect more dynamic developments in state incentive programs and a continued focus on additional transparency. More

Work Force Development Programs Can Make or Break a Site Selection Deal

Mark Crawford (Q3 / Summer 2013)
With scant time and resources for recruiting and training workers, companies are looking at states that will help them to quickly satisfy their labor force needs. More

Leading Locations for 2013: The Southwest MSAs

Area Development Magazine Special Presentation (June 2013)
With 13 of the top 15 regional leaders, Texas is the star player in the Southwest, which also includes Arizona, New Mexico, and Oklahoma. More

NEW MEXICO at a glance

POPULATION: 2,059,179 (2010 Census)

LABOR FORCE: 929,785

RIGHT TO WORK: No

TARGET INDUSTRIES:Aerospace and defense; advanced manufacturing; value-added agriculture; logistics, distribution, and transportation; emerging technology; back office and technical support; energy and natural resources; digital media

COLLEGE GRADUATES: (Age 25 and over) 28.5%

BASIC BUSINESS TAXES:
Corporate Income Tax: 4.8 percent on the first $500,000 of net income; $24,000 plus 6.4 percent of income over $500,000 for income between $500,000 and $1 million; $56,000 plus 7.6 percent of income over $1 million

Sales Tax (Gross Receipts Tax): The gross receipts tax rate varies throughout the state from 5.125 percent to 8.6875 percent depending on the location of the business. Services that are exported from the state are not subject to New Mexico gross receipts tax. These services must be produced by a business with a New Mexico office, sold to an out-of-state buyer, and delivered and initially used out-ofstate.

Property Tax: Real and tangible property is assessed at 33.3 percent of value, but many counties and municipalities offer abatements for new business locations and expansions. Personal Income Tax: New Mexico uses a four-bracket, graduated-rate table ranging from 1.7 percent to 4.9 percent of taxable income.

There is no state inventory tax

BUSINESS INCENTIVES:
High-Wage Job Tax Credit

Job Training Incentive Program

Manufacturer's Investment Tax Credit

Rural Jobs Tax Credit

Technology Jobs Tax Credit

Double Weight Sales Factor

Industrial Revenue Bonds

Alternative Energy Tax Credit

Additional industry-specific incentives for aerospace, agribusiness, clean and renewable energy, technology and manufacturing, and telemarketing

Principal Manufacturing industries

  • Computer & Electronic Products
    29.6%
  • Food Processing
    16.1%
  • Fabricated Metal Products
    7.6%
  • Nonmetallic Mineral Products
    6.4%
  • Transportation Equipment
    4.2%
  • Other Manufacturing Industries
    36.2%