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The New Mexico Economic Development Department (NMEDD) offers an array of incentives that help local businesses like yours to expand. They have a Business Development Team that is ready to make the phone calls, do the math, and analyze the stats to figure out what tax credits and incentive programs benefit you. The Lovington Economic Development Corporation will be the liaison between your business and NMEDD and will facilitate the processes involved to bring your project online. The City of Lovington also offers local incentives that can benefit your business.
Local Economic Development Act
In addition to business incentives offered by the State of New Mexico, cities and counties frequently offer them also. More than 62 New Mexico cities and counties have passed the Local Economic Development Act, in which a governing body has the power to finance the purchase of land, buildings, or infrastructure. The City of Lovington has passed the LEDA for their community.
Industrial Sites
The City of Lovington has Industrial Park sites available for lease. Sites are located within two miles of the city limits on major Highway 18. Selected sites have railway access. Leases are available for a ten (10) year period starting as low as $1/acre/year, renewable at the option of tenant. Sites have water and electricity availability.
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