{"id":246490,"date":"2022-04-20T18:27:25","date_gmt":"2022-04-20T22:27:25","guid":{"rendered":"https:\/\/chiefexecutive.net\/?page_id=246490"},"modified":"2025-02-14T14:53:35","modified_gmt":"2025-02-14T19:53:35","slug":"new-mexico","status":"publish","type":"page","link":"https:\/\/chiefexecutive.net\/best-worst-states-business\/new-mexico\/","title":{"rendered":"New Mexico"},"content":{"rendered":"\t\t
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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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CEO Guide to the States<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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New Mexico<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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ENCHANTING THE WORLD<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The Land of Enchantment\u2019s reputation is growing on the global stage. The robust Foreign Trade Zone on its international border with Mexico offers a lower cost of business, abundant land and workforce training programs. Several international companies, including Maxeon Solar of Singapore, Taiwanese Tesla supplier Hota Industrial Mfg., mtex antenna
technology of Germany and Star Scientific of Australia, have announced investments in the state in the past two years. There has also been notable growth in the energy and solar sectors. In August 2024, Ebon Solar announced a nearly $1 billion project and 900 new jobs in Albuquerque.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\u201cWe have succeeded in\nmaking New Mexico a\nglobal center for advanced\nenergy manufacturing\u2026.\nSolar joins other leading\ncompanies in embracing\nNew Mexico\u2019s commitment\nto renewable energy, its\ntalented, dedicated workforce and the opportunities\nwe provide for job training\nand tuition-free college.\u201d \n<\/div>\n\t\t\t\n\t\t\t\t\t\t
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Michelle Lujan Grisham<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
Governor<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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TAXES<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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top corporate income tax<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t#<\/span>\n\t\t\t\t0<\/span>\n\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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on the Tax\nFoundation\u2019s State Tax\nCompetitiveness Index<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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EDUCATION<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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of adults 25 years of age and older graduated high school<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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of adults age 25 and older have a bachelor\u2019s degree or higher<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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UNEMPLOYMENT RATE<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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RIGHT TO WORK STATE<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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No<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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QUALITY OF LIFE<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t#<\/span>\n\t\t\t\t0<\/span>\n\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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POPULATION GROWTH<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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increase between\n2020 and 2023\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t\t\t\u201cThe choice of Albuquerque for our investment\naligns with our commitment to sustainable innovation, and New Mexico offers abundant solar\nresources, favorable renewable energy policies and a\ndedicated, skilled workforce. These factors enhance\nEbon Solar\u2019s capital investment and production\ncapabilities and make the city of Albuquerque,\nBernalillo County and the state of New Mexico ideal\npartners as we integrate into the clean energy market.\u201d\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\tJudy Cai<\/span>CEO, Ebon Solar<\/span><\/cite>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\u201cKairos Power is pleased to continue growing our\npresence in New Mexico and contribute to the local\necosystem of clean energy innovation.... We thank\nthe city of Albuquerque and the state of New Mexico\nfor their continued support as we work to bring\nvalue to the region while advancing our clean energy\nmission.\u201d\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\tMike Laufer<\/span>CEO and Co-Founder, Kairos Power<\/span><\/cite>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\u201cNew Mexico is an outstanding state for the entertainment business and is operating over current\ncapacity. By expanding Cinelease Studios\u2014Albuquerque, we are in a position to provide a home for\nfuture film and television in the state.\u201d\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\tGannon Murphy<\/span>General Manager, Cinelease Studios<\/span><\/cite>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tKEY INCENTIVES\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Job Training Inventive <\/strong>Program (JTIP): <\/strong>Offers employers reimbursements of 50-75 percent of employee wages for up to six months for on-the-job and classroom training for newly created jobs.<\/p>

Local Economic Development Act: <\/strong>Offers a discretionary cash-grant incentive program to reimburse costs associated with the land, building and infrastructure improvements of new projects.<\/p>

High Wage Jobs Tax Credit: <\/strong>Offers a tax credit for each new high wage economic base job (paying over\u00a0$40,000 in a rural area or $60,000 in a metro) of 8.5 percent of the wages and benefits for each job created.<\/span><\/p>

Rural Jobs Tax Credit: <\/strong>Offers a credit of up to $1,000 per year for 2 to 4 years for jobs created in rural areas.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tEDCs\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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New Mexico Economic Development Department<\/strong>
edd.newmexico.gov<\/p>

NM Partnership<\/strong>
nmpartnership.com<\/p>

Albuquerque Economic Development<\/strong>
abq.org<\/p>

Santa Fe Office of Economic Development<\/strong>
santafenm.gov\/economic_development<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tHIGHLIGHTED PROGRAM OR INITIATIVE\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The New Mexico Economic Development Department is launching a new initiative aimed at assisting small, disadvantaged businesses with technical assistance. The State Small Business Credit Initiative (SSBCI) Technical Assistance Grant Program will offer workshops and direct assistance to qualifying businesses through financial, legal, venture capital and emerging fund managing advisory assistance.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tBIG DEALS\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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  • Cinelease announced in February 2024 a $95 million expansion of its facilities in Albuquerque.<\/li>
  • Turnkey Ventures announced in February 2024 an $11.8 million expansion and 330 new jobs at a modular manufacturing center in Roswell.<\/li>
  • Netflix announced in June 2024 a significant expansion of its studios in Albuquerque.<\/li>
  • Ebon Solar announced in August 2024 a $942 million investment in a solar factory and 900 new jobs in Albuquerque\u2019s Mesa del Sol industrial development
    area.<\/li>
  • Kairos Power announced in September 2024 that it would build three new facilities in the state and create 100 jobs.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    \n\t\t\t\t\n\t\t\t\t<\/i>\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t
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    \n\t\t\t\t\t\t\n\t\t\t\t\t\t\tBIG COMPANIES\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
    \n\t\t\t\t
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    • 3D Glass Solutions<\/li>
    • Intel<\/li>
    • Northrop Grumman<\/li>
    • Pebble Labs<\/li>
    • PESCO<\/li>
    • RS21<\/li>
    • Sandia National Laboratories<\/li>
    • Virgin Galactic<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

      CEO Guide to the States New Mexico ENCHANTING THE WORLD The Land of Enchantment\u2019s reputation is growing on the global stage. The robust Foreign Trade Zone on its international border with Mexico offers a lower cost of business, abundant land and workforce training programs. Several international companies, including Maxeon Solar of Singapore, Taiwanese Tesla supplier […]<\/p>\n","protected":false},"author":965,"featured_media":0,"parent":59194,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"_acf_changed":false,"_oasis_is_in_workflow":0,"_oasis_original":0,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":"","_links_to":"","_links_to_target":""},"class_list":["post-246490","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\nNew Mexico<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/chiefexecutive.net\/best-worst-states-business\/new-mexico\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Mexico\" \/>\n<meta property=\"og:description\" content=\"CEO Guide to the States New Mexico ENCHANTING THE WORLD The Land of Enchantment\u2019s reputation is growing on the global stage. The robust Foreign Trade Zone on its international border with Mexico offers a lower cost of business, abundant land and workforce training programs. 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