New Mexico is a business-friendly state that offers ample incentives for businesses to move to and grow in our state. These incentives are aimed at businesses in targeted industries.
If you have any questions, email the Economic Development Division. The City’s Economic Development Division is here to help businesses get the most of State and local incentives and to smooth the way for targeted industries to grow in Santa Fe. Let us know if you are thinking of relocating or growing in Santa Fe. We’re here to help.
The following websites provide information about the State's business incentives:
- General Incentives by NM Partnerships - From help with job training to research and development tax credits, you’ll find a wealth of information on a variety of incentives for New Mexico businesses here.
- Targeted Industries - New Mexico has identified eight industry groups that our State believes will provide economic and employment growth into the foreseeable future. These industries also utilize the State’s talents and resources. The State offers special incentives to help attract and grow companies in these industries.
- Manufacturing Incentives - The State Economic Development Department has adopted a number of incentives to support manufacturing in recent years, including investment tax credits and assistance with achieving ISO 9000 certification.
- Angel Investor Tax Credits - Thanks to a generous State incentive that went into effect in 2007, angel investors can claim a 25 percent tax credit on qualified investments they make in New Mexico companies.
- Industrial Revenue Bonds - In New Mexico, Industrial Revenue Bonds (IRBs) are a valuable tool, enabling governments to extend businesses a financing method and a means of making tax-free purchases and investments. IRBs ensure that companies can put as much capital as possible to work growing their businesses.