The Albuquerque metro area and the State of New Mexico offer aggressive business incentives to help reduce your overall cost of doing business. From corporate income tax rates to workforce training, we offer excellent programs with a business friendly attitude.
OVERVIEW OF MAJOR INCENTIVES
Learn more about the incentives New Mexico offers expanding employers by downloading this summary booklet.
Some of the most significant state and local incentive programs include:
Industrial Revenue Bonds (IRB)
Significant real and personal property tax abatement and compensating tax exemptions can occur through the use of an Industrial Revenue Bond (IRB). An IRB is a loan from the bond purchaser to a company where the loan proceeds and repayment flows through a governmental issuer. Instead of purchasing a facility directly, companies can enter into a lease with the issuer, provided the company will lease the facility from the issuer and at end of the lease, purchase the facility from the issuer for a nominal amount.
IRBs can also be used when a developer is involved. A separate series of bonds are issued to finance the developer’s real estate and building costs and the tax savings of the IRB can flow through to the ultimate user through a sublease.
The benefit of the remaining property tax exemptions can be passed on to the new owner or flow through a lease in the event of a sale or lease to a new user under certain qualifying conditions. City Council or County Commission must vote to induce an IRB, and the community does not lend its credit to an IRB. The company must secure its own purchaser of IRBs or the company can purchase its own IRB.
Note: The amount of the property tax exemption and the term of bond is determined by each community.
Job Training Incentive Program (JTIP)
Refundable High Wage Jobs Tax Credit
Manufacturing Investment Tax Credit
Aerospace & Aviation Incentives
Alternative Energy Product Manufacturer's Tax Credit
Get a personalized incentives analysis for your company.
If you would like a customized, confidential incentives analysis based on your company’s potential investment and projected employment numbers, we are more than happy to run a calculation for you. Please contact Debra Inman at 505-705-3784 or firstname.lastname@example.org.