NEW MEXICO ECONOMIC DEVELOPMENT DEPARTMENT
A report released by Ernst & Young in January 2014, ranked New Mexico first in the west for manufacturers with the lowest effective tax rate for manufacturing.
New Mexico is home to 3 national research facilities and 3 nationally-recognized research universities. The state is ranked first in non-industry investment in research and development, second in high-tech jobs, and seventh in patents, providing unparalleled capacity for research collaboration and technology commercialization in many areas that contribute to advanced manufacturing (2017 State New Economy Index). New Mexico has many companies utilizing technologies spun out of these institutions. Education and research opportunities at these facilities contribute graduates in many fields including engineering, optics, nanotechnologies, physics, and manufacturing hardware and software development.
Research and development capacity, combined with plentiful natural resources, an excellent climate, low cost of doing business and aggressive job creation incentives equate to a growing manufacturing sector when other states are experiencing declines. The New Mexico Small Business Assistance Program allows a business to use a scientist, engineer, or facility to test a product or develop a prototype.
Intel, Honeywell, General Mills, Jabil, Medlin Ramps, and Tempur-Pedic all have manufacturing facilities in New Mexico.
Angel Investment Credit
Consumables Gross Receipts Tax Deduction for Manufacturers
High Wage Jobs Tax Credit
Investment Tax Credit for Manufacturers
Rural Jobs Tax Credit
Single Sales Factor
Trade Support Company in a Border Zone
Financial Management Tax Credit
Consumables used in the manufacturing of a product, including electricity and natural gas, are exempt from gross receipts tax.
New Mexico EconomicDevelopment DepartmentJoseph M. Montoya Building1100 S. St. Francis DriveSanta Fe, NM 87505-4147
Mailing Address:New Mexico EconomicDevelopment DepartmentP.O. Box 20003Santa Fe, NM 87504-5003
Main number: (505) 827-0300 (se habla español)Fax: (505) 827-0328
The mission of the New Mexico Economic Development Department is to Improve the lives of New Mexico families by increasing economic opportunities and providing a place for businesses to thrive.
New Mexico Economic Development Department. All Rights Reserved.