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The Bernalillo County Economic Development Team strives to provide all the incentives your business may need to locate or expand in the County, including Industrial Revenue Bonds and Impact Fee Exemptions for qualifying companies. It is a team effort, however, and the State of New Mexico has more than 30 incentive programs designed to support Bernalillo County economic development efforts.
Job Training Incentive Program
New Mexico has one of the most aggressive training incentive packages in the country. The Job Training Incentive Program (JTIP) funds classroom and on-the-job-training for newly created jobs in expanding or relocating businesses for up to six months. The program reimburses 50 to 70 percent of employee wages and required travel expenses. More information
High-Wage Job Tax Credit
A bold, new incentive created in 2004 by Governor Richardson and the New Mexico Legislature, this tax credit equals 10 percent of the wages and benefits for each new economic-base job created. Qualified employers can receive the credit for up to four years. More information
Manufacturers Investment Tax Credit
Manufacturers may qualify for a tax credit equal to five percent of the value of qualified equipment imported to New Mexico. More information
New Mexico 9000
In September of 2004, NM’s unique, low-cost ISO 9000 certification program won first place as most innovative state program from the Council of State Governments—WEST.
Under New Mexico 9000, businesses may obtain IS0 9000 certification on a sliding scale costing $1,000 to $6,000 (compared with $120,000 by conventional means). The NM 9000 process takes only one year.
There are many State-sponsored economic incentives and programs which may be appropriate for your business. Visit the New Mexico Economic Development Department website for more information.