BUSINESS INCENTIVES   

State and Local Incentives for Businesses
Expanding in or Relocating to New Mexico:

General Incentives & Programs:

• High Wage Jobs Tax Credit
• Job Training Incentive Program (JTIP)
    (formerly the Industrial Development Training Program)
• Development Incentives Act (IRB Lite)
• Childcare Income Tax Credit
• Laboratory Partnerships With Small Business
• New Mexico 9000
• Capital Equipment Tax Credit
• Welfare-to-Work Opportunity Tax Credit
• Qualified Business Facility Rehabilitation Credit
• Communitiy Development Incentive Act
• Community Development Block Grants
• New Mexico & Federal Loan/Grant Programs (ELCDC)
• Local Economic Development Act

Incentives for Manufacturing Companies:

• Manufacturing Investment Tax Credit
• Double-Weighted Sales Factor Option
• Industrial Revenue Bonds

Incentives for Rural Communities
(includes Belen, Estancia Valley and Los Lunas):

• Rural Jobs Tax Credit
• Rural Software Tax Deduction
• Technology Jobs Tax Credit

Incentives for Technology Industries:

• R&D Small Business Tax Credit
• Research and Development Tax Deduction
• Rural Software Tax Deduction
• Laboratory Partnerships With Small Business
• Technology Jobs Tax Credit
• Web Hosting Tax Deduction

Incentives for Energy and Agriculture:

• Expanded Renewable Energy Production Tax Credit (2005)
• Wind Energy Equipment Tax Deduction
• Biomass-Related Equipment Tax Deduction
• Energy Efficiency and Renewable Energy Bonding Act
• The Efficient Use of Energy Act
• Clean Energy Grants Program

Incentives for Aerospace and Aircraft Industries:

• Aircraft Manufacturing Tax Deduction
• Aerospace Research & Development Tax Deduction
• Spaceport Operation Exemption

Incentives for Customer Support Centers:

• Telemarketing Tax Exemption (WATS)
• Web Hosting Tax Deduction

Incentives for Film Production Industry:

• Film Production Tax Credit
• Filmmaker Gross Receipts Tax Deduction
• Film Investment Loan Program

Other Financial Advantages:

• No inventory tax.
• Franchise taxes of only $50 per year.
• Cultural Preservation Tax Credit for restoring a property on the New Mexico Register of Cultural Properties.
• Lottery scholarships - free college tuition to all eligible New Mexico high school graduates.
• In-state tuition at UNM and CNM (formerlyTVI) for transferring families.
• R&D tax reduction for services sold to out-of-state buyer for initial use.
• The Severance Tax Loan Program allows the state to buy bonds of companies rated at least Baa or Bbb as long as proceeds are used to establish or expand businesses in New Mexico.
• Portion of Severance Tax Permanent Fund available for investment in qualified venture capital funds located in New Mexico.
• Private Equity Investment Program - A portion of Severance Tax Permanent Fund available for investment in qualified venture capital funds with an office in New Mexico.
• New Mexico Co-Investment Partnership - a New Mexico private equity fund managed by Fort Washington Capital Partners, which invests equity or debt capital in New Mexico-based businesses.

More on New Mexico's Business Incentives at :