Business Climate
New Mexico has one of the most competitive business environments in the region for manufacturing.
Kiplinger, Ernst & Young, and the Tax Foundation have all recognized the improvements to NM’s tax climate. Noting a reduction to NM’s maximum corporate income tax rate and the state switching to a single sales factor for manufacturers.
The information below is from the NM Partnership.
NM completely reformed its tax structure to support manufacturers in 2013, and as a result NM has the LOWEST EFFECTIVE CORPORATE INCOME TAX RATE FOR MANUFACTURING according to Ernst & Young.
The State of New Mexico and its communities offer employers 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 economic base companies a cash reimbursement to help train New Mexicans. Another popular program is our Local Economic Development Act (LEDA), a discretionary state incentive that can be used as a cash reimbursement towards land, building, or infrastructure.
For more information please contact our office.
