Find Programs to Help Your Small Business Succeed in New Mexico
Before you zero in on a location, it’s comforting to know you’ll be welcomed. The state of New Mexico offers aggressive incentives to make you feel right at home – and to offset the costs of running your business so you can enjoy increased profits and expand even more.
New Mexico’s business incentives are unparalleled in the Southwest region. A wide variety of tax credits (both industry-specific and general), credits, and certification programs comprise one of the most comprehensive business incentive programs in the Southwest.
With great opportunities and incentives for businesses in New Mexico, affordable commercial property in prime locations and the chance to join the ranks of esteemed business owners from all over the world, Otero County is the ideal place to start, expand or relocate your business.
The Land of Enchantment welcomes you and your business to our growing community.
New Mexico Business Incentives: Tax Credits
- Alternative Energy Product Manufacturer’s Tax Credit: Allows a 5 percent tax credit on the value of equipment and property by manufacturers of alternative energy products.
- Angel Investment Tax Credit: Allows an accredited investor to claim a credit for 25 percent of an investment in a high-tech or manufacturing business.
- Manufacturing Investment Tax Credit: Allows taxpayers to receive a credit of 5.125 percent on the value of qualified equipment and property used directly in a manufacturing business.
- Renewable Energy Production Tax Credit: Allows business owners to claim an average of 2.7 cents per kilowatt-hour of electricity produced by renewable energy generators.
- Rural Jobs Tax Credit: Allows employers to claim a 6.25 percent credit on the first $16,000 in wages paid for a qualifying job in a rural area.
- Sustainable Building Tax Credit: Allows business owners a credit of between $0.30/square foot to $9.00/square foot for building or renovating a sustainable structure.
- Technology Jobs Tax Credit: Allows taxpayers conducting research at a qualified facility and making qualified expenditures an 8 percent credit when business takes place in a rural area.
New Mexico Business Incentives: Miscellaneous
- Job Training Incentive Program: New Mexico reimburses expanded or relocated businesses up to 40 percent of trainee wages in urban areas and 65 percent in rural areas for up to six months.
- ISO 9000 Certification: Allows businesses to obtain ISO 9000 certification on a sliding scale (based on gross receipts) within a 6-month period so they can bid for government contracts.
Several more New Mexico business incentives are available – read the Report on Manufacturing Incentives in New Mexico to discover more ways it pays to own a business in New Mexico.