Information for companies looking to locate on Bedrock Land

Economic Development, Financial and Tax Incentives:

There are various economic development and tax incentives. There are over 30 different incentives for economic development and job creation. These listed most often affect companies who would expand or locate to the Albuquerque area. Go to either Albuquerque Economic Development or State of New Mexico Economic Development websites to gain deeper insight.

1. Job Training Incentive Program

2. High-Wage Job Tax Credit

3. Industrial Revenue Bonds

4. Manufacturers Investment Tax Credit

5. New Mexico 9000

6. Aircraft Manufacturing Tax Deduction

7. Aircraft Refurbishing or Remodeling Tax Deduction

8. Research and Development Tax Deduction

9. Spaceport Gross Receipts Tax Deductions

10. Agribusiness

11. Film Investment

12. Manufacturing Investment Tax Credit

13. Rail Transport - Locomotive Fuel Gross Receipts and Compensating Tax Exemption

14. Renewable Energy

15. Advanced Energy Product Manufacturers Tax Credit

16. Renewable Energy Production Credit

17. Technology

Ø R&D Small Business Tax Credit,

Ø The Research and Development Gross Receipts Tax Deduction,

Ø The Rural Software Gross Receipts Tax Deduction The Technology Jobs Tax Credit

Ø The Web Hosting Gross Receipts Tax Credit.

18. Angel Investment Tax Credit

19. Child Care Corporate Income Tax Credit

20. Community Development Incentive Act (Property Tax Exemption)

21. Cultural Property Preservation Tax Credit

22. Fee-Free Zones Near the Mexican Border

23. Financial Management Tax Credit

24. High Wage Job Tax Credit

25. Intergovernmental Business Tax Credit

26. Military Acquisition Program Tax Deduction

27. New Mexico State Investment Council

The State Investment Council is a private equity investment program. It invests in New Mexico businesses and film productions.

28. Rural Job Tax Credit

29. Texas/Mexico Border Residents’ Tax Exemption

30. Welfare-to-Work Tax Credit

Real Estate Development Financing Tools:

There are favorable financing incentives and tools for property development, such as; Industrial Revenue Bonds, Tax Increment Development District (TIDDs) and Public Improvement Districts (PID).

Gary Tonges, Albuquerque Economic Development. 505-246-6202

State of New Mexico Economic Development Department. 505-827-0300

Political Representation/Districts:

Federal:

Senate: Pete V. Dominici

Jeff Bingaman

Congress 1^st District: Heather Wilson

State Government

Governor: Bill Richardson

Lt. Governor: Diane Denish

City:

Mayor: Martin Chavez