New Mexico Economic Development Department

New Mexico Economic Development Department

Government Administration

Santa Fe, New Mexico 2,935 followers

Businesses prosper and their employees enjoy happy and healthy lifestyles in New Mexico.

About us

The New Mexico Economic Development Department enhances and leverages a competitive environment to create jobs, develops the tax base and provides incentives for business development. Since 2011, we've made New Mexico's business climate one of the best in the country. We've cut taxes 61 times, including a 22% decrease to the Corporate Income Tax. We've also enacted Single Sales Factor for headquarters and manufacturers and we've ended tax pyramiding on consumables for manufacturing. We've expanded our deal closing fund, LEDA. LEDA funds are used to offset business expenses in expansions or relocation – like construction and infrastructure. We've also expanded and strengthened our highly rated Job Training Incentive Program (JTIP). This award-winning workforce training program has demonstrated strong performance since 1972. JTIP funds training for newly-created jobs in expanding or relocating businesses for up to 6 months and reimburses 50-75% of employee wages. These pillars are supplemented by various powerful tools such as High Wage Jobs Tax Credit, Investment Tax Credit, R&D Tax Credit, and Industrial Revenue Bonds. New Mexico is strategically located with proximity to the West Coast, Mexico, Texas, mountain states, and the Midwest. Ideal for a broad array of business, New Mexico’s mild weather and low risk for natural disasters permits continuity of business operations, as well as a great place to live, work, and raise a family.

Website
http://EDD.NewMexico.gov
Industry
Government Administration
Company size
51-200 employees
Headquarters
Santa Fe, New Mexico
Type
Government Agency
Specialties
Economic Development, Community Development, and Workforce Development

Locations

  • Primary

    1100 S. St. Francis Drive

    Santa Fe, New Mexico 87505, US

    Get directions

Employees at New Mexico Economic Development Department

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