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Expand or Relocate to New Mexico
      

New Mexico Business Data

Relocate or Expand to New Mexico

NM business climate, manufacturer incentives, and advantages of local communities

Business Data for New Mexico


Population
2,009,671

Total Labor Force
929,449

Unemployment Rate
6.2%

# Manufacturers
1,609

Manufacturing Jobs
36,107

Right to Work
No

Unemp. Insurance Tax
0.05–5.4%


Manufacturing stats updated on 11/13/2017. All other data updated on 11/13/2017. IndustryNet is not responsible for errors or omissions.
 
Corporate Income Tax
Graduated: 4.8% for net incomes under $500,000; $24,000 plus 6.4% of net income over $500,000; $56,000 plus 7.6% of net income over $1,000,000.

Sales Tax
5.125%. Receipts from selling property to persons in the manufacturing business, from selling the service of combining or processing materials to a manufacturer, or the sale of property to be used in the manufacture of jewelry may be deducted.

Property Tax
The State Assessed Properties Bureau (SAPB) values property and processes property tax returns and establishes the values of these properties.

Leading Mfg. Industries
(by # of employees)
16% Food and kindred products
11% Industrial machinery and equipment
8% Stone, clay and glass products
8% Instruments and related products
8% Fabricated metal products

Largest Mfg. Employers
(by # of employees)
Freeport McMoRan Chino Mines Co. (Vanadium) - 1,050
Honeywell Aerospace (Albuquerque) - 900
Ethicon Endo-Surgery, Inc. (Albuquerque) - 800
Mosaic Potash Carlsbad, Inc. (Carlsbad) - 650
Freeport-McMoRan Tyrone Mining, LLC (Tyrone) - 590
 
Counties with the Most Mfg. Jobs
Bernalillo - 22,263
San Juan - 6,929
Eddy - 5,121
Lea - 4,832
Dona Ana - 2,782

Cities with the Most Mfg. Jobs
Albuquerque - 22,152
Farmington - 4,986
Hobbs - 3,701
Artesia - 2,483
Carlsbad - 2,476

Mfg. Related Business Incentives
• High Wage Jobs Tax Credit
• Manufacturers' Investment Tax Credit
• New Markets Tax Credit
• Rural Jobs Tax Credit
• Technology Jobs Tax Credit
• Aircraft Manufacturing Tax Deduction
• Research & Development Tax Deduction
• Agricultural Business Tax Deductions and Exemptions
• Advanced Energy Tax Credits
• Alternative Energy Product Manufacturers Tax Credit
• Renewable Energy Production Tax Credit
• Solar Energy Systems Gross Receipts Tax Exemption
• Research & Development Small Business Tax Credit
• Community Development Revolving Loan Fund (CDRLF)
• Smart Money Loan Participation Fund
• Job Training Incentive Program (JTIP)

Economic development agencies, chambers of commerce, and other organizations & businesses available to assist with your relocation to or from New Mexico

Carlsbad, NM
A private non-profit organization that is dedicated to the growth of Eddy County and Carlsbad's manufacturing, mining, energy production and nuclear industries. Offer local incentives and vital networking with leaders from local and state government and business organizations.
Topeka, KS
Striving to recruit new business & help companies expand in Kansas
Are you an economic development agency, chamber of commerce, or other organization in the business of helping companies relocate or expand? List your organization here and connect with growing businesses!
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