NEW MEXICO ECONOMIC
DEVELOPMENT DEPARTMENT

Innovators welcome.

New Mexico’s economic growth starts with investing in neighborhoods, communities, and a friendly business environment.

START YOUR BUSINESS

Planning a business? Almost ready to launch? New Mexico is home to hundreds
of resources and a community of supportive entrepreneurs.

Starting from scratch isn’t easy. Luckily, there are organizations that can help you research and plan. 

Arrowhead Center

Arrowhead Center (Arrowhead) is New Mexico State University’s innovation/entrepreneurship center, technology transfer office, and economic development engine. Arrowhead offers a broad suite of programs that promote technology transfer; support the creation,...

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WESST

WESST is a nonprofit, small business development and training organization with locations in Albuquerque, Rio Rancho, Santa Fe, Las Cruces, Roswell and Farmington. Offerings include (some services can be provided in...

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Whether you’re looking for office or production space, advice on hiring, or just a fellow entrepreneur to talk to, it helps to have a network. 

WESST Enterprise Center

Emerging businesses who are members of the WESST Enterprise Center receive operational support and resources that help accelerate growth during the critical start-up phase and encourage long-term success.   The facility...

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The BioScience Center

Located in central Albuquerque, The BioScience Center is a 19,500 square foot facility designed specifically for life sciences incubation.  Clients can be both resident and non-resident.   In addition to infrastructure, the Center provides business...

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TEAM Technologies Accelerator

TEAM Technologies is an advanced engineering and manufacturing company located in the Sandia Science & Technology Park in Albuquerque. TEAM has been incubating and accelerating companies for over 15 years, but in the...

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Santa Fe Business Incubator (SFBI)

SFBI’s unique programming model helps accelerate the growth of early stage startup companies through coaching, advisory councils, one-on-one and group engagement, seminars, workshops, and community building. Laboratory amenities include: A...

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FatPipe

Amenities include: Modern design A rich program of events Fast internet Shower & kitchen facilities Lounge area and outdoor garden patio Locations: Albuquerque East Mountains Rio Rancho Taos

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Arrowhead Center

Arrowhead Center (Arrowhead) is New Mexico State University’s innovation/entrepreneurship center, technology transfer office, and economic development engine. Arrowhead offers a broad suite of programs that promote technology transfer; support the creation,...

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South Valley Economic Development Center

The South Valley Economic Development Center (SVEDC) serves as a business and kitchen incubator, community facility, and coworking space (The Sandbox). The 17,000 square foot center offers flexible leases and rentals on office...

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Enterprise Center at San Juan College

Located on the San Juan College campus in Farmington, the Enterprise Center offers: Office spaces 160 to 500 square feet Warehouse-office combinations 1,100 or 2,200 square feet Conference and meeting...

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UNM Rainforest Innovations

Formerly STC.UNM, UNM Rainforest Innovations is located in the Lobo Rainforest Building at Broadway and Central, in Downtown Albuquerque, and the heart of Innovate ABQ.  UNM Rainforest Innovations is co-located on...

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Navajo Tech Innovation Center (NTIC)

NTIC is the first Native American business incubator to be certified by the State of New Mexico.  It is located on the Navajo Nation in Church Rock, near Gallup.  Membership...

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There are a lot of ways to fund your new business. From micro loans to angel investment to venture capital, learn about your funding options. 

Verge Fund

Verge only invests in regional southwestern companies, but places priority on New Mexico companies. Investments are made in the seed or first round, and active involvement in the company is...

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New Mexico Community Capital (NMCC)

NMCC invests in New Mexico companies that can deliver market-rate returns while creating social and economic improvement in the regions where they operate. Investment comes with operational expertise that helps...

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New Mexico Catalyst Fund

The Catalyst Fund is a $20 million fund-of-funds created to increase seed and early-stage investment in New Mexico. As a fund-of-funds the Catalyst Fund will invest in existing and emerging...

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Flywheel Ventures

Flywheel Ventures leverages its investment team’s technology expertise and entrepreneurial experience to fuel the commercialization of globally-recognized R&D and science assets around the world.  The Fund’s investment strategy focuses on...

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New Mexico Start-Up Factory

The New Mexico Start-Up Factory, an initiative of the New Mexico Angels, takes SBIR-funded technologies to market by licensing and developing the intellectual property, and finds the right people to commercialize it...

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Small Business Innovation Research (SBIR)

The Small Business Innovation Research (SBIR) program urges small businesses to participate in Federal Research/Research and Development (R/R&D) with the objective of commercialization. The program is competitive and requires an...

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Cottonwood Technology Fund

Investment focus: high tech technology/hard science (patent/IP based): robotics, photonics, telecom, optics, automotive, clean energy, sensor technology, high-tech health, nanotechnology, chemicals, and advanced materials.  Cottonwood is focused on strong patents...

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GROW YOUR BUSINESS

Whether you’ve been here for generations or are just settling in, we’re here to help.

Job Training Incentive Program

New Mexico has one of the most generous training incentive programs in the country. The Job Training Incentive Program (JTIP) funds classroom and on-the-job training for newly-created jobs in expanding or relocating businesses for up to 6 months. The program reimburses 50-75% of employee wages. Custom training at a New Mexico public educational institution may also be reimbursed.

The New Mexico State Legislature created JTIP, formerly known as the Industrial Development Training Program, or “in plant training,” in 1972. Since then, JTIP has supported the creation of more than 1,600 training projects and the creation of nearly 47,000 jobs.

For more information on JTIP, contact the New Mexico Economic Development Department.
Patrick Gannon, JTIP Program Manager
(505) 470.3572 or Patrick.Gannon@state.nm.us

Business Resource Directory

Explore the plethora of resources our state offers with this extensive directory of programs and incentives as well as service organizations and facilities available here in our state for building business and economy.

We're here to help!

Regional representatives are the heroes of our team, they serve every corner of the state and are ready to answer your questions, help you navigate incentives, get technical assistance, and more. 

Northwest New Mexico:
(Includes San Juan, McKinley,
Sandoval and Cibola counties)

Lorraine Ruggles
Bernalillo Office
(505) 490-7662
Lorrainel.Ruggles@state.nm.us

North Central New Mexico:
(Includes Rio Arriba, Taos,
Los Alamos, Santa Fe counties)

Peter Mitchell
Santa Fe Office
(505) 827-2199
(505) 570-7796
Peter.Mitchell@state.nm.us

Albuquerque and Surrounding Areas:
(Includes Bernalillo, Torrance and Valencia counties)
Max Gruner
ABQ Office: (505) 412.5036
Tribal Liaison
Max.Gruner@state.nm.us

Northeast New Mexico:
(Includes Colfax, Union, Mora, Harding,
San Miguel, Quay and Guadalupe counties)

Tim Hagaman
Mora Office
(505) 862-2322
Tim.Hagaman@state.nm.us

Southwest New Mexico:
(Includes Catron, Socorro, Grant, Sierra,
Luna, Dona Ana and Hidalgo counties)

Louise Marquez
Las Cruces Office
(575) 430-1232
Louise.Marquez2@state.nm.us

Southeast New Mexico:
(Includes De Baca, Curry, Roosevelt, Lea,
Chavez, Eddie and Otero counties)

Susie Russell
Roswell Office
(575) 626-6653
SusanL.Russell@state.nm.us

RELOCATE YOUR BUSINESS

There's a reason the visionaries at Virgin Galatic, Facebook, and Netflix choose to make New Mexico their home base.  

Discover Our Smart Tax Policies

New Mexico has one of the lowest property tax rates in the nation, plus competitive corporate and individual income tax rates. The state recently phased down its maximum corporate income tax rate to 5.9% and enacted a single sales factor apportionment methodology for manufacturers.
  • New Mexico does not tax property-in-transit through the state or warehoused for delivery out-of-state
  • No inventory tax
  • No gross receipts tax on consumables used in manufacturing, including electricity and natural gas
  • No intangible property tax
  • No tax on real estate transactions
  • Lowest property tax in the nation
  • Single sales factor apportionment methodology for manufacturers
  • No estate, inheritance or gift taxes
LEDA, or the Local Economic Development Act, is New Mexico’s deal closing fund. LEDA investments provide the building and infrastructure your company needs in its ideal new location. NMEDD targets economic development projects that comply with all legal facets of LEDA. Additional consideration is given to project that demonstrate:
  • Significant Community Impact and Support;
  • Rural and Underserved Areas of New Mexico;
  • Increased Wages and Job Creation;
  • Significant New Capital Investment; and
  • Environmentally Sustainable Outcomes.
A diverse workforce, low cost of living, top tier research institutions/facilities, and more. See the data behind New Mexico’s growing community of innovators.

Workforce Profile

The New Mexico Department of Workforce Solutions (DWS) produces a number of data products that provide a complete picture of the state’s labor force, including trends and projections.

Considering moving to New Mexico?
We've got a team to help.

The New Mexico Partnership works in coordination with NMEDD to assist businesses considering moving to New Mexico. They offer a coordinated approach and can help simplify the site selection process and provide expertise on talent availability, critical infrastructure, R&D institutions and more.

We work with you to find the right location,
incentives, workforce, and resources. World class
customer service from friendly folks.

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