New Mexico has proactively worked to maintain a pro-business environment with some of the strongest incentive programs in the U.S. In fact, we’ve implemented a 22% reduction in corporate income tax across all industries in addition to some other key advantages.
Affordable real estate; abundant land and facility options statewide
Low energy costs; extensive renewable energy potential (solar and wind).
Lottery funded scholarship program
The state of New Mexico and its communities offer businesses aggressive incentives to encourage job creation and investment. Our financial incentives are designed to be an ongoing benefit that also rewards companies for future expansions. By designing our incentives this way, it allows both new and existing companies to utilize these programs.
A few of our flagship incentive programs include our Job Training Incentive Program (JTIP), offering funding for on-the-job and classroom training for expanding or relocating businesses for up to 6 months. This funding comes in the form of cash reimbursement of 50-75% of wages. In addition, the state’s discretionary incentive, the Local Economic Development Act (LEDA), can be used toward the reimbursement of land, building or infrastructure costs (funding awards are determined on a project-by-project basis).
For detailed information on New Mexico’s incentive programs, head on over to our Incentives page or click here.