New Mexico
All You've Heard about New Mexico is true!
This is a land proud of its heritage, proud of its history and lifestyle. It is a place of stunning beauty, contrasting landscapes and complementary cultures. Its hardworking, educated people are committed to the State's success and the State is committed to the success of its citizens. New Mexico is financially stable and action-oriented to the highest levels of government, with a strong business culture and infrastructure and it's eager to attract and develop new business opportunities. |
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| New Mexico is open for business. Consider the programs and resources we offer companies looking to conduct business in New Mexico. A few are listed below:
Reducing the Tax Burden
While many other states are raising taxes, we have cut personal taxes
by 40 percent, to 4.9 percent, and are reducing capital gains taxes
by 50 percent.
A Key Link in the Supply Chain
New Mexico's transportation system is extensive, comprehensive and knows
no congestion. Three interstate highways intersect the state, including
the I-10 east/west highway that stretches from Los Angeles to Texas,
the east/west I-40, and the Pan-American Highway that heads north to
Denver and Canada, and south to El Paso and Mexico. For companies doing business with Mexico's Maquiladora industries, New Mexico is the ideal location, because you are no more than a day's drive - 200 miles - from Mexico's major industrial centers. There are three international points of entry to Mexico, at Santa Teresa, Antelope Wells and Columbus. Santa Teresa has extensive, modern port facilities and access to Foreign Trade Zones. Our Maquiladora Supplier Partnership program has been developed as a three-way partnership between Mexican manufacturers, their vendors and the State of New Mexico.
Investing in New Mexico's Future
We recently announced the High Wage Tax Credit. This is a 4 year, 10%
refundable tax credit, for higher-wage jobs with salary and benefits
up to $120,000. For a $120,000 package, therefore, a company can apply
$12,000 to all applicable taxes, and if there's a balance the State
will repay the company the difference. For qualifying employees, companies
can take advantage of the High Wage Tax credit for four years. This
allows companies to recruit the best possible talent to grow their New
Mexico business.
Training a Productive Workforce
Our Job-Training Incentive Program, one of the nation's most aggressive,
supports customized workforce training: classroom-based, on-the-job,
or both. The program can help pay for up to six months of an employee's
training.
Supporting Business
Communities are investing in infrastructure - transportation, advanced
communications, plant - and are issuing Industrial Revenue Bonds to
exempt companies from property taxes on land, equipment and buildings.
An IRB can also be used to fund capital investments. It's a powerful
and flexible tool that demonstrates a local community's commitment to
the success of your business.
Abundant Energy
New Mexico is second in the nation in proven gas reserves and production
of natural gas as an export. We are fourth in the nation in proven oil
reserves, and a net exporter of energy.
A Research and Development Powerhouse
Tap into a hotbed of advanced education, research and cutting edge technology
through New Mexico's 12 research institutions. These institutions have
formed the Technology Research Collaborative, to secure patents and
get joint technology commercialized and into the marketplace. Their
collective overall research budget approaches $5bn annually, and they
are recognized innovators in areas such as nanotechnology, fuel cell
technology, imaging, bio-informatics and optics. For businesses considering a move to New Mexico, contact the New Mexico Economic Development Partnership, at (888) 715-5293. For more information on the State of New Mexico, please visit the New Mexico Tourism Department at www.newmexico.org. |
