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