POPULATION: 1,900,000 (2004 Census)

LABOR FORCE: 900,000

RIGHT TO WORK: No

TRADITIONAL INDUSTRIES: R&D, diary production & processing, electronics manufacturing, agriculture, extractive industries

EXPANDING INDUSTRIES: Renewable energy, aerospace manufacturing, advanced business services, optics, electronics-component manufacturing, telecommunications, maquiladora suppliers, aviation/ aerospace

COLLEGE GRADUATES: (Age 25 and over) 29.3%

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): 5 percent on property sold or leased and on services, including services performed out of state but initially used in state; additional tax may be imposed by local cities and counties

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 5.3 percent of taxable income There is no state inventory tax

BUSINESS INCENTIVES
High-Wage Job Tax Credit

Job Training Incentive Program

State Industrial Revenue Bond Program

Rural Jobs Tax Credit

Local Economic Development Act

Film Investment Program

Film Tax Credit

Agriculture-related tax deductions/exemptions

Call Center Capital Equipment Tax Credit

Venture capital investments

Manufacturer's Investment Tax Credit

Technology Jobs Tax Credit

R&D Gross Receipts Tax Credit

Recovery Zone Facility Bonds

New Markets Tax Credit

Advanced Energy Tax Credit

Alternative Energy Product Manufacturers' Tax Credit