New Mexico

Sectors it is courting

• Aerospace and Defense
• Agribusiness
• Business and Professional Services
• Design and Construction
• Energy
• Information and Communication Technology
• Food and Beverage

Investment it is seeking from

• Canada
• Taiwan
• Mexico
• Germany
• Singapore
• South Korea
• Japan
• Italy
• Switzerland
• United Kingdom

Site-selection services it offers

The New Mexico Partnership is the state designated single-point-of-contact for locating your business anywhere throughout New Mexico. Their team of experts works closely with local and statewide economic development and industry partners throughout New Mexico as well as our state and local officials to ensure you have the business assistance you need to succeed. We offer a coordinated approach and a formal network of economic developers to simplify the site selection process by providing expertise on talent availability, critical infrastructure, educational and R&D institutions, real estate and facilities, incentives, and all the other factors that go into a business location decision. Additionally, New Mexico has instituted a “soft landing” program throughout many of its communities targeted at assisting relocating or expanding foreign companies. The New Mexico International Trade Alliance over the course of three days will help connect companies with potential customers and suppliers, business and immigration attorneys, government officials, financial institutes, and other contacts that are key to make expanding or relocating your business to New Mexico successful.

Incentive programmes

• Grant

  LEDA is a discretionary state incentive that can be used toward the reimbursement of land, building or infrastructure costs. Funding awards are determined on a project-by-project basis.

• Tax Credit

  The Manufacturers Investment Tax Credit is a tax credit of 5.125% of the value of qualified equipment may be applied against compensating or gross receipts tax. The HWJTC is a refundable tax credit equal to 8.5% of salary for employees earning $40K+ (rural areas) or $60K+ (in urban communities). Credit may be taken for four years. Rural Jobs Tax Credit: This credit can be applied to taxes due on (state) gross receipts, corporate income, or personal income tax up to $1,000 per year per employee. Credit can be taken for 2-4 years depending on location. Any balance of this credit can be carried forward for a period of 3 years from the date of issuance.

• Tax Exemption

  Industrial Revenue Bond (IRB): IRBs allow for significant real and personal property tax and compensating tax abatements. Terms vary by community/project.

• Tax Refund or Rebate

  Refundable Film Production Tax Credit: The state offers a 25% refundable tax credit, with an extra 5% dependent on qualifying factors, on all direct production and post-production expenditures, including New Mexico crew, that are subject to taxation by the State of New Mexico.

• Other

  Job Training Incentive Program (JTIP): The flagship New Mexico Job Training Incentive Program (JTIP) reimburses on-the-job and classroom training for newly created jobs in expanding or relocating businesses for up to 6 months. JTIP provides cash reimbursement of 50-75% of employee wages.

Shovel-ready sites

• The Sandia Science & Technology Park (SS&TP) is a 340-acre, master-planned technology community located in Albuquerque. Associated with Sandia National Laboratories and adjacent to Kirtland Air Force Base. Companies have easy access to world-class facilities, technologies, scientists, and engineers. The Technology Park has multiple sites available including existing buildings as well as land to build for suit projects. These sites are ideal for a wide range of industries including biotechnologies, R&D reliant manufacturing operations, and aerospace and defense.

  Site details

• Gallup Energy Logistics Park, LLC (GELP) is a rail served industrial development on 2,500 acres of property located in McKinley County, approximately 5 miles northwest of Gallup, New Mexico. The site is permitted for heavy industrial development and provides access to roads, rail and utilities. BNSF has certified a 365-acre rail-served parcel located within the 2,500-acre development. The site plan calls for 11,000 feet of rail connecting to the BNSF mainline and recent improvements have been made to local roads creating ease of access to Interstate 40 and NM State Highway 491.

  Site details

• Westpark Logistics Center is the newest industrial park to form in one of the fastest growing industrial areas of New Mexico. This park is a 166-acre park will be one of the largest industrial parks in New Mexico – and the closest to Union Pacific's intermodal facility – Westpark's first tenant will be MCS Industries, a U.S. picture frame manufacturer.

Programmes for international technology startups

New Mexico provides startup and early-stage companies access to both seed and early-stage funding organizations and larger investment firms. In fact, there are over 20 different venture capital firms and funding sources throughout the state. The state also provides access to a multitude of different accelerator and incubator programs designed to help early-stage and start-up companies succeed. One of these resources is the Arrowhead Center, located in Las Cruces and is the technology transfer and commercialization arm of NMSU. The Arrowhead Center brings together researchers and entrepreneurs to solve market problems and maximize market opportunities by providing access to workshops, networking events, mentoring, assistance with capital sourcing and customer acquisition, and work ready space. Another resource for start-up companies in the state is the Joseph L. Cecchi VentureLab, located in the University of New Mexico’s Lobo Rainforest. Everything is co-located on the ground floor of the Lobo Rainforest, so companies have more opportunities to meet and work with other inventors, mentors, business advisors, and experienced entrepreneurs from programs such as Innovate New Mexico and the Air Force Research Labs tech engagement office. Companies of all stages and sizes can also take advantage of the suite of incentives New Mexico provides.

Programmes for international clean-energy projects

International companies, both existing and newly expanding operations, can take advantage of New Mexico’s full suite of incentives. In addition to the highly impactful Job Training Incentive Program and Local Economic Development Act, there are a multitude of industry specific incentives that the state offers. New Mexico provides advantages for companies in the clean energy sector including access to R&D facilities and resources, like our two Department of Energy National Labs (Sandia and Los Alamos), in addition to a world-class manufacturing environment. In fact, New Mexico is ranked 2nd in the U.S. for solar potential and is in the top 10 for wind potential. The state has also invested heavily in the clean energy sector, making a commitment to having net 0 carbon emissions by 2050.

Incubators and accelerators

• FatPipe

  FatPipe is a business incubator and co-working space located in downtown Albuquerque, NM. The co-working space is equipped with furniture, IT infrastructure, and multi-media equipment. FatPipe offers mentoring and coaching from experienced professionals as well as connections to potential investors and partners. FatPipe also puts together workshops, seminars, and pitch competitions on a regular basis.

• Creative Startups

  Creative Startups is a virtual accelerator program, based in Santa Fe, NM, targeting the creative economy. Its curriculum is based on the design thinking concepts and the lean startup method. Companies are aligned with mentors and all of the initial work is virtual. Then the companies meet for an intensive five-day boot camp, a pitch day and more.

• ABQid

  ABQid is a 12-week business accelerator program, based in Albuquerque, NM, influenced by the Techstars accelerator curriculum. Startups accepted into this program receive $20,000 in exchange for 6% equity in their company. The 3-month program is a constant exercise in the lean startup method, which relies on testing your product/service and pivoting based on the feedback.

University and workforce programmes

• New Mexico Junior College

  The workforce training department at the New Mexico Junior College in Lea County offers both scheduled and customized training courses. Some of the most popular training courses the college offers are geared towards the energy production industry, the healthcare industry, and generalized professional development. The programs the college offers can also be customized to fit the needs of the business looking to recruit more talent.

• Mesalands Community College

  The Mesalands Community College, located in eastern New Mexico, offers an industry tailored program for the renewable energy industry, the North American Wind Research and Training Center. This program provides real-world, hands-on training experience to prepare students to conduct troubleshooting, preventative maintenance, and repairs on wind turbines. This specialized training opportunity results in a pipeline of talent with the skills needed to go directly into the workforce and succeed.

In its own words

New Mexico’s border is booming. Last year New Mexico's exports grew by 46% to a new annual record of $5.4 billion, and the state is supporting that growth. New Mexico is prioritizing infrastructure improvements to New Mexico’s border crossings and is making global trade a top priority. The state has already allocated $78 million in funds to support border infrastructure needs and has a close working relationship with Mexico to help continue the growth the border region is seeing.

Investor account, as submitted

Recently Ergomotion and Tecma, two companies with significant operations outside of the U.S., chose Santa Teresa, New Mexico for the location of their newest facility. Ergomotion, Inc. is the world’s largest manufacturer of bedding bases and The Tecma Group of Companies provides shelter services for manufactures. Both Ergomotion, Inc. and The Tecma Group of Companies share a bi-national approach, and have operations in Juárez, Mexico and now Santa Teresa, New Mexico. The Santa Teresa International Border Region will provide the two companies with advantages such as quick access to national and international markets, and competitive training programs that complement their already established production facilities in Mexico. “Not only has Blue Road Investments been excellent to deal with as a landlord, but the location of this facility near the Santa Teresa Port of Entry complements Tecma’s trucking and logistics facilities and will prove strategic to our cross-border clients,” said Alan Russell, Chairman and Chief Executive Officer of the Tecma Group of Companies. These announcements are possible because New Mexico is competitive,” says New Mexico Partnership CEO Melinda Allen. “Our training programs coupled with our location, and affordable, experienced workforce provides a high value for manufacturing and distribution operations. Those are a few of the reasons why companies like Ergomotion, Tecma, Rio Blue and Sierra Madre (announced earlier this year) are all establishing a presence in Santa Teresa.”

Submitted by the economic development organisation, not independently verified.

Who to contact

• Melinda AllenPresident and CEOmallen@nmpartnership.com(505) 247-8500

1720 Louisiana Boulevard Northeast, Albuquerque, NM 87110