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New Mexico Resources Page
Inward Investment Guides

Regional Report: A Rosy Economic Outlook in the Southwest U.S.

Steve Stackhouse-Kaelble (Directory 2015)
The well-known investment disclaimer states that past performance is not indicative of future results. It stands to reason that just because Texas has led the nation in job growth for four years in a row, that doesn’t mean growth will continue to sizzle in the future. And yet, analysts expect that it will. The same rosy outlook holds true in Arizona, and there are healthy jobs reports in New Mexico and Oklahoma as well. More

Securing Incentives With a Well-Paid Workforce

Robert Foley, Manager, Global Location & Expansion Services, KPMG LLLP (Q4 2014)
As a growing number of states augment their business incentives with Quality Jobs programs, manufacturing, technology and other high value-add companies are well positioned to potentially reap significant and often enhanced tax and non-tax benefits. More

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 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

NEW MEXICO at a glance

POPULATION: 2,085,287 (2013 Census Bureau Estimate)

LABOR FORCE: 926,242 (2013 Bureau of Labor Statistics)


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

COLLEGE GRADUATES: (Age 25 and over) 26.4% (Census Bureau ACS 1 year estimates)

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 6.9 percent of income over $1 million with a scheduled phased tax rate reduction intended to bring the tax rate to 5.9 percent of excess over $500,000 in 2018 while maintaining the 4.8 percent on the first $500,00 of net income.

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-of-state.

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

High-Wage Jobs Tax Credit

Job Training Incentive Program

$15 million deal closing fund

Manufacturer's Investment Tax Credit

Rural Jobs Tax Credit

Technology Jobs Tax Credit

Industrial Revenue Bonds

Advanced Energy Deduction and Advanced Energy Tax Credit

Alternative Energy Tax Credit

R&D Tax Deduction and R&D Tax Credit

Beginning January 1, 2014, New Mexico began phasing in a single sales factor apportionment methodology for manufacturing companies; triple-weighted sales factor in 2015; 70% in 2016, 80% in 2017; and single sales factor in 2018.

Gross receipts taxes on consumables used in the manufacturing process (including electricity and industrial gasses) will be phased out by January 1, 2017.

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

Principal Manufacturing industries

  • Computer & Electronic Products
  • Food Processing
  • Fabricated Metal Products
  • Nonmetallic Mineral Products
  • Transportation Equipment
  • Other Manufacturing Industries
Source: NMDWS, Quarterly Census of Employment and Wages program 2013