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Special Development Programs

• NM Rural Development Response Council
  The NM RDRC develops and enhances the cooperative efforts of state, federal, tribal and local governments with the private sector to revitalize rural New Mexico communities. Goals are focused on business start-up, expansion, retention and attraction, preserving local culture and enhancing quality of life, and strengthening and diversifying natural resource-based economies. Contact Peter Froning, Executive Director, 599 Altamonte NW, Albuquerque, NM. 87107 (505) 241-2716. FAX - (505) 214-2340, E-mail - Gthoh@aol.com

• New Mexico's Urban Enterprise Community and New Mexico's Rural Enterprise Community
  The Enterprise Zone Act was enacted to stimulate the creation of new jobs and to revitalize distressed areas in qualified communities and counties throughout New Mexico. With a strong public/private partnership and a focused strategic plan, these areas can be redeveloped to enhance the business and job opportunities for local business people and residents. The program offers special incentives to businesses in the zone or who locate in the zones. The urban New Mexico zone is in the Southwest quadrant of Albuquerque. The rural program is in specific census tracts of Rio Arriba, Taos and Mora Counties. Call the Business Resource Center (505-242-3000) for urban zone information or La Jicarita EC at 800-458-7323 for the rural program.

• New Mexico's Colonias

  Santa Teresa - Maquiladora Program
  The maquiladora ("twin plant or production sharing") industry was established in 1960 along the 2,000 mile border between the U.S. and Mexico Under the U.S.Mexican Twin Plant Agreement, equipment, machinery, supplies and raw materials can be temporarily imported into Mexico duty free under bond to insure their future exportation. Products are assembled and/or manufactured utilizing inexpensive Mexican labor and the finished products are exported back to the U.S. where duty is paid only on the "Mexican value added" or shipped abroad to other foreign countries.

• Foreign Trade Zones
  The purpose of a Foreign Trade Zone (FTZ) is to attract and promote U.S. participation in international commerce and trade. Merchandise in an FTZ is considered to be outside the U.S. Customs territory and is subject to duty only when it leaves the FTZ for consumption in the U.S. Market. Exported FTZ merchandise is not subject to duty liability. The Albuquerque, Dona Ana, and Rio Rancho Foreign Trade Zones are central to the business districts and distribution facilities of those cities. Although it has received foreign trade zone status, the Albuquerque FTZ is just in the process of being activated with two subzones.

• Tax Abatement Programs - including Industrial Revenue Bonds from State Economic Development Department - Energizing Your Local Economy Guide:
  Even though Enterprise Zones are listed, New Mexico does not have an Enterprise Zone program. Other tax abatement programs are valid in the state, however, but are usually viable for only capital intensive projects.

• Housing Programs: from State Economic Development Department - Energizing Your Local Economy Guide
  Descriptions and contacts for housing programs can be found under most of the listed categories.

• Tax Abatement Programs: Descriptions and Contacts from: State Economic Development Department - Energizing Your Local Economy Guide

• All Indian Business Development Program (AIDA)
  Provides assistance to Native Americans in financial planning and packaging, marketing and management assistance and business planning among other areas.

• New Mexico 27J Exemption
  Run by the New Mexico Regulations and Licensing Department. Provides an exemption from certain regulatory requirements for a small business in its attempt to raise capital through the sale of stock under specific conditions. This program allows businesses to sell stock without going through the expense of SEC filing if the stock is sold through private placement, in-state.

• New Mexico Business Incubators
  Business incubators provide low-rent facilities and shared resources for new businesses. A complete listing of all New Mexico business incubator facilities is under construction and will be at this site shortly.

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Last Updated on October 16, 1998