New Mexico offers a unique quality of life: A blend of rich, ancient cultures, an artist's colony that dates back thousands of years, and a myriad of year-round outdoor activites.It is the fifth largest state geographically, with a population of less than two million. It is the only state in the nation with the research capacity of two national science laboratories. It will soon be home to the world’s first purpose-built commercial spaceport. New Mexico is unique, affordable and business-friendly.
In Governor Richardson’s months of office he worked with the New Mexico Legislature to make sweeping changes in the State’s tax policy and enact new incentives to stimulate more economic growth. The maximum personal income tax rate has been phased down from 7.7 percent to 4.9 percent. Capital gains taxes were reduced by fifty percent. A high wage jobs tax credit was created. A rural jobs tax credit was extended. Several incentives have been created to expand growing industrial clusters in the State. New Mexico’s economy is strong and the State’s leadership remains committed to continued economic growth and prosperity for all who choose to call the Land of Enchantment home.
This information is © New Mexico Economic Development Department.