Incentives Directory



AGENCY: Taxation and Revenue Department DESCRIPTION: •  Property interests of a lessee in project property held under a lease from a county or municipality under authority of an Industrial Revenue Bond (IRB),...
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Category: State Incentives, Tax Incentives

AGENCY: Taxation and Revenue Department DESCRIPTION: The High-Wage Jobs Tax Credit provides a refundable tax credit to businesses for each high-wage job created. ELIGIBLE USES: •  The credit is equal to 10% of...
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Category: State Incentives, Tax Incentives

AGENCY: Taxation and Revenue Department DESCRIPTION: It is the purpose of the Investment Credit Act [Chapter 7, Article 9A NMSA 1978] to provide a favorable tax climate for manufacturing businesses and...
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Category: State Incentives, Tax Incentives

AGENCY: New Mexico Economic Development Department (NMEDD) DESCRIPTION: The Job Training Incentive Program (JTIP) funds classroom and on-the-job training for new employees in newly created jobs in qualified expanding or relocating...
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Category: Local Incentives, Training & Consulting

AGENCY: Taxation and Revenue Department DESCRIPTION: Employers in rural areas will be entitled to a tax credit when expanding their work force. PROGRAM/LOAN STRUCTURE: • The Economic Development Department will determine which employers...
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Category: State Incentives, Tax Incentives

AGENCY: ACCION New Mexico DESCRIPTION: A local non-profit organization, ACCION New Mexico's mission is to provide business credit and training to self-employed individuals and families who have limited or no perceived...
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Category: Local Incentives, Grants & Loans

AGENCY: Department of Health and Human Services, Administration for Children and Families, Administration for Native Americans (ANA) DESCRIPTION: Provides financial assistance through grants or contracts to further the three goals of...
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Category: State Incentives, Grants & Loans

DESCRIPTION: The Advanced Energy Tax Credit provides a 6% credit against gross receipts tax, compensating tax, withholding tax, personal income tax or corporate income tax liability for the generation of...
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Category: State Incentives, Tax Incentives

AGENCY: Federal Home Loan Bank (FHLBank) via Dallas DESCRIPTION: This program finances home-ownership for families with incomes at or below 80% of the median income for an area. Also provides financing...
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Category: State Incentives, Tax Incentives

AGENCY: Taxation and Revenue Department DESCRIPTION: The Affordable Housing Tax Credit is offered in hopes of making affordable housing more available in New Mexico. ELIGIBILITY: Investors in affordable housing projects may apply...
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Category: State Incentives, Tax Incentives

AGENCY: Taxation and Revenue Department DESCRIPTION: The Aircraft Maintenance or Remodeling Tax Deduction provides tax relief for maintaining, refurbishing, remodeling or otherwise modifying a commercial or military carrier (aircraft) over 10,000...
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Category: State Incentives, Tax Incentives

AGENCY: Taxation and Revenue Department DESCRIPTION: The Aircraft Manufacturing Tax Credit allows receipts of an aircraft manufacturer from selling aircraft may be deducted from gross receipts. Any deduction allowed under Section...
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Category: State Incentives, Tax Incentives

AGENCY: Federal Aviation Administration DESCRIPTION: The Airport Improvement Program (AIP) provides grants to public agencies and, in some cases, to private owners and entities, for the planning and development of public-use...
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Category: State Incentives, Grants & Loans

AGENCY: Taxation and Revenue Department DESCRIPTION: The Alternative Energy Product Manufacturers Tax Credit provides up to a 5% credit of qualified expenditures for manufacturing equipment used in a manufacturing operation. The...
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Category: State Incentives, Tax Incentives

AGENCY: Taxation and Revenue Department DESCRIPTION: The Angel Investment Tax Credit provides a 25% credit on the qualifying investment in a high-technology or manufacturing business. The maximum investment for which a...
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Category: State Incentives, Tax Incentives

DESCRIPTION: Angel investors and angel investor groups are sources of private capital. Most investors keep their information and operations private. However, certain non-profit intermediary groups are often set up to...
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Category: Local Incentives, Business Expansion

AGENCY: Transportation Department, Aviation Division DESCRIPTION: The purpose of the New Mexico Aviation Funding Program is to assist communities financially with their airport facilities. ELIGIBLE USE: • Funding may be used to: • Construct...
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Category: State Incentives, Grants & Loans

AGENCY: Bureau of Indian Affairs (BIA), Division of Financial Assistance DESCRIPTION: Guaranteed loans that are made by private lenders to eligible applicants for up to 90% of the unpaid principal and...
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Category: Federal Incentives, Grants & Loans

AGENCY: Taxation and Revenue Department DESCRIPTION: The Biodiesel Blending Facility Tax Credit provides a credit equal to 30% of the cost of purchasing and installing biodiesel blending equipment. ELIGIBILITY: A taxpayer who is...
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Category: State Incentives, Tax Incentives

AGENCY: Taxation and Revenue Department DESCRIPTION: To encourage a diversification of fuel types, and the use of renewable fuels, the state of New Mexico offers a tax deduction for the materials...
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Category: State Incentives, Tax Incentives

AGENCY: Taxation and Revenue Department DESCRIPTION: The Blended Biodiesel Fuel Tax Credit provides a credit against income tax due on a return for each gallon of blended biodiesel fuel on which...
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Category: State Incentives, Tax Incentives

AGENCY: New Mexico incorporated municipalities and counties DESCRIPTION: A Business Improvement District is a special taxing district implemented to generate revenue for infrastructure improvements necessary for economic development projects. PROGRAM/LOAN STRUCTURE: • Local...
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Category: Local Incentives, Business Expansion

AGENCY: Taxation and Revenue Department DESCRIPTION: A tax credit is available on a percentage of eligible expenses for child care services incurred and paid by the taxpayer in the taxable year...
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Category: State Incentives, Tax Incentives

AGENCY: North American Development Bank (NADBank). DESCRIPTION: The Community Adjustment and Investment Program was created in connection with the passage of the North American Free Trade Agreement (NAFTA) to provide credit...
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Category: State Incentives, Grants & Loans

AGENCY: New Mexico incorporated municipalities and counties DESCRIPTION: The governing body of a county or a municipality may, by a majority vote of the elected members, adopt a resolution exempting commercial...
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Category: Local Incentives, Business Expansion

AGENCY: Taxation and Revenue Department DESCRIPTION: Compensating tax is an excise tax imposed on the privilege of using property in New Mexico. When property is purchased outside New Mexico and brought...
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Category: State Incentives, Tax Incentives

AGENCY: Taxation and Revenue Department DESCRIPTION: To encourage the restoration, rehabilitation, and preservation of cultural properties, any taxpayer who files a corporate income tax return and who is the owner of...
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Category: State Incentives, Tax Incentives

AGENCY: First Nations Development Institute DESCRIPTION: The Eagle Staff Fund seeks to support Native grassroots and tribal organizations that are working to create Native-controlled reservation economies. ELIGIBLE USES: • The Eagle Staff Fund...
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Category: State Incentives, Grants & Loans

AGENCY: Economic Development Administration (EDA) DESCRIPTION: This program is also known as the Long-Term Economic Deterioration/Revolving Loan Fund. Grants are provided to economic development intermediaries and non-profit organizations which establish revolving...
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Category: Federal Incentives, Grants & Loans

AGENCY: Economic Development Administration (EDA) DESCRIPTION: The EDA assists communities with funding the construction of public works and local facilities that contribute to private sector job creation and retention to alleviate...
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Category: Federal Incentives, Grants & Loans

AGENCY: Commission on Energy Efficiency and Load Management Programs DESCRIPTION: This Act encourages utility investment in energy efficiency and load management programs by allowing public utilities recovery of reasonable and prudently...
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Category: Green Incentives, Energy Incentives

DESCRIPTION: An ESOP is classified as an employee benefit plan that can be used for corporate debt financing. ELIGIBLE USE: • ESOPs are empowered to fulfill many different financing roles for a...
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Category: State Incentives, Grants & Loans

AGENCY: Construction Programs Bureau, New Mexico Environment Department DESCRIPTION: The Bureau has money to lend as part of its mission to protect human health and the environment via its administration of...
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Category: State Incentives, Grants & Loans

DESCRIPTION: Leasing is an alternative to purchasing general equipment, furniture, medical equipment, office machines, typewriters and computers. ELIGIBLE USE: • Leasing provides the following benefits: • A tax advantage through accelerated depreciation; • Frees...
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Category: State Incentives, Grants & Loans

AGENCY: Federal Agricultural Mortgage Corporation (Farmer Mac) DESCRIPTION: • Farmer Mac is America’s secondary market for first mortgage agricultural real estate loans. • Farmer Mac was created by Congress to improve the availability...
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Category: Federal Incentives, Grants & Loans

AGENCY: Federal Home Loan Bank DESCRIPTION: The EDPPLUS Small Business Grant Program is designed to promote and enhance small business development; to foster business relationships between member institutions, small businesses, and...
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Category: Federal Incentives, Grants & Loans

AGENCY: Taxation and Revenue Department DESCRIPTION: An eligible film production company may apply for, and the Taxation and Revenue Department may allow, a tax credit of 25%. New changes will become...
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Category: State Incentives, Tax Incentives

AGENCY: First Nations Financial Project (FNFP), Oweesta Program DESCRIPTION: As part of an ongoing effort to stimulate small businesses, home ownership and economic development in Native Communities, OWEESTA provides the training...
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Category: Local Incentives, Business Expansion

AGENCY: Flywheel Ventures DESCRIPTION: Flywheel Ventures is a seed and early-stage venture capital firm focused on information technology and physical sciences ventures in the Southwest/Rockies region. The firm matches talented entrepreneurs...
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Category: State Incentives, Grants & Loans

AGENCY: U.S. Department of Agriculture (USDA) Farm Services Agency (FSA) DESCRIPTION: The FSA guarantees loans made by agricultural lenders for family farmers and ranchers for farm ownership, improvements and operating purposes....
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Category: Federal Incentives, Grants & Loans

AGENCY: Farm Services Agency DESCRIPTION: Provides loans to Indian Tribes to purchase land within their reservations. Authorized under Public Law 91-229 (Loans to Indian Tribes and Tribal Corporations). ELIGIBLE USES: • Land acquisitions...
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Category: Federal Incentives, Grants & Loans

AGENCY: Farm Services Agency (FSA) DESCRIPTION: The Limited Resource Farm Loan Program provides direct loans to low-income farmers and ranchers to buy improve or enlarge family farms. ELIGIBLE USE: • Loan funds may...
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Category: Federal Incentives, Grants & Loans

AGENCY: Government National Mortgage Association (Ginnie Mae or GNMA) DESCRIPTION: Ginnie Mae makes affordable housing a reality for millions of low- and moderate- income households across America by channeling capital into...
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Category: Federal Incentives, Grants & Loans

AGENCY: U.S. Department of the Interior, National Park Service DESCRIPTION: Tax incentives are available where historic structures are certified as having received rehabilitation to preserve and enhance their historic character. ELIGIBLE USES: A...
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Category: State Incentives, Tax Incentives

AGENCY: Taxation and Revenue Department DESCRIPTION: To finance Medicaid and indigent healthcare recipients, the governing body of any county may enact an ordinance imposing an excise tax of 1/16% for each purpose. ELIGIBILITY:...
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Category: State Incentives, Tax Incentives

AGENCY: Department of Housing and Urban Development (HUD) DESCRIPTION: The CDBG program is a flexible program that provides communities with resources to address a wide range of unique community development needs....
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Category: Federal Incentives, Grants & Loans

AGENCY: Mortgage Finance Authority (MFA) DESCRIPTION: The objective of the HOME Program is to expand the supply of decent and affordable housing for low- and very low-income residents. HOME is authorized...
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Category: Federal Incentives, Grants & Loans

AGENCY: Department of Housing and Urban Development (HUD) and local Public Housing Authorities DESCRIPTION: Family Self-Sufficiency is a HUD program that encourages communities to develop local strategies to help voucher families...
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Category: State Incentives, Tax Incentives

AGENCY: Department of Housing and Urban Development (HUD) DESCRIPTION: Housing choice vouchers allow very low-income families to choose and lease or purchase safe, decent, and affordable privately-owned rental housing. The various...
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Category: State Incentives, Tax Incentives

PROGRAM: Indian Intergovernmental Tax Credit AGENCY: Taxation and Revenue Department DESCRIPTION: A company engaged in growing, processing or manufacturing may receive a tax credit from taxes imposed by an Indian nation, Tribe...
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Category: State Incentives, Tax Incentives

AGENCY: New Mexico incorporated municipalities and counties DESCRIPTION: Pursuant to the Industrial Revenue Bond Act, New Mexico municipalities and counties are authorized to issue IRBs to stimulate the expansion and relocation...
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Category: Local Incentives, Business Expansion

AGENCY: Economic Development Department (EDD), International Trade Division DESCRIPTION: The International Trade Division offers export assistance, consultations on business practices, and a wealth of knowledge in doing business internationally. Additionally, they...
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Category: Local Incentives, Business Expansion

AGENCY: International Trade Administration (Federal) DESCRIPTION: Under a cooperative agreement between the district office of the International Trade Administration and the Trade Division of the New Mexico Economic Development Department (EDD),...
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Category: Federal Incentives, Business Expansion

AGENCY: Taxation and Revenue Department DESCRIPTION: To encourage travel by turboprop or jet-type powered airlines, the 2006 Legislature has allowed for a deduction for fuel to power those types of airplanes....
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Category: State Incentives, Tax Incentives

AGENCY: Taxation and Revenue Department DESCRIPTION: The Job Mentorship Tax Credit encourages New Mexico businesses to hire youth participating in career preparation education programs. ELIGIBILITY: A company that files a corporate income tax...
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Category: State Incentives, Tax Incentives

AGENCY: New Mexico incorporated municipalities and counties DESCRIPTION: The Local Economic Development Act allows communities the option of offering local government aid to qualifying business entities for economic development projects. STRUCTURE: • One...
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Category: Local Incentives, Business Expansion

AGENCY: New Mexico incorporated municipalities and counties ELIGIBILITY: Communities that have already passed the Local Economic Development Act (LEDA) are able to pass a LOGRT. STRUCTURE: • The community votes to raise its...
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Category: Local Incentives, Business Expansion

AGENCY: Mortgage Finance Authority (MFA) DESCRIPTION: The Low-Income Housing Tax Credit Program was created by the Tax Reform Act of 1986. The purpose of the program is to stimulate the development...
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Category: State Incentives, Tax Incentives

AGENCY: Economic Development Department (EDD), Economic Development Division DESCRIPTION: MainStreet provides technical assistance, services and resources to its affiliated non-profit organizations for downtown revitalization and redevelopment. It does so through the...
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Category: Local Incentives, Business Expansion

DESCRIPTION: Mesa Capital Partner’s mission is to grow small businesses by providing equity capital for expansion, investment and restructuring. ELIGIBILITY: Early stage and small business sector located in geographic areas underserved...
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Category: Local Incentives, Business Expansion

AGENCY: Mortgage Finance Authority (MFA) DESCRIPTION: This loan program is for construction and permanent loans for affordable rental developments. ELIGIBILITY: • Eligible projects include new construction, substantial rehabilitation, refinancing or acquisition of projects...
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Category: Federal Incentives, Grants & Loans

AGENCY: Mortgage Finance Authority (MFA) DESCRIPTION: The purpose of Access Loans is to provide federally insured construction and permanent financing for small scale affordable housing projects throughout New Mexico. It is...
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Category: State Incentives, Grants & Loans

AGENCY: Mortgage Finance Authority (MFA) DESCRIPTION: The BUILD IT! Loan Guaranty Program was created in 1994 to encourage other lenders to provide interim financing when they might not otherwise do so...
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Category: Federal Incentives, Grants & Loans

AGENCY: Mortgage Finance Authority (MFA) DESCRIPTION: MFA’s HERO Program is a first and a second mortgage product that provides below market interest rates, down payment and closing cost assistance for the...
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Category: State Incentives, Grants & Loans

AGENCY: Mortgage Finance Authority (MFA) DESCRIPTION: The HOME/Rental Gap Financing Programs provide gap financing for a variety of affordable and special needs housing projects throughout the state of New Mexico. As...
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Category: State Incentives, Grants & Loans

AGENCY: Mortgage Finance Authority (MFA) DESCRIPTION: The HOME/Single Family Development Program provides partial or “gap” financing to non-profit and for-profit developers, public and tribal entities, and Community Housing Development Organizations (CHDOs)...
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Category: State Incentives, Grants & Loans

AGENCY: Mortgage Finance Authority (MFA) DESCRIPTION: The Housing Tax Credit Program (HTC) provides federal income tax credits to individuals or organizations that develop affordable housing through either new construction or acquisition...
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Category: State Incentives, Tax Incentives

AGENCY: Mortgage Finance Authority (MFA) DESCRIPTION: • MFA's Mortgage $aver Program offers below-market interest rates and/or closing cost assistance to first-time homebuyers. The program is also available to individuals who have not...
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Category: State Incentives, Grants & Loans

AGENCY: Mortgage Finance Authority (MFA) DESCRIPTION: MFA’s Mortgage Booster Program is a second mortgage product that provides down payment and closing cost assistance to borrowers who qualify for MFA’s Mortgage $aver...
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Category: State Incentives, Grants & Loans

AGENCY: Mortgage Finance Authority (MFA) DESCRIPTION: MFA’s Primero Loan Program is a flexible, low cost loan program created in 1993 to finance the development of affordable rental or special needs residential...
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Category: State Incentives, Grants & Loans

AGENCY: National Economic Development Associates, Inc. (NEDA) DESCRIPTION: NEDA was created to assist existing minority entrepreneurs. ELIGIBLE USES: Assistance is provided in: • Capital development and financing; • Marketing and advertising; • Procurement and contracting; •...
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Category: Local Incentives, Training & Consulting

AGENCY: Navajo Nation, Division of Economic Development Support DESCRIPTION: The division provides loans or loan guarantees to qualified Navajo individuals or Navajo-owned businesses. The program is intended to foster the establishment...
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Category: Local Incentives, Grants & Loans

AGENCY: New Mexico Finance Authority (NMFA) DESCRIPTION: The NMFA has the authority to form, operate, own, or co-own any number of qualified community development entities to participate in the federal New...
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Category: State Incentives, Tax Incentives

AGENCY: New Mexico Community Capital DESCRIPTION: New Mexico Community Capital’s mission is “to improve the lives of New Mexicans, particularly those in rural and economically under-served areas, by investing in New...
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Category: Local Incentives, Business Expansion

AGENCY: Economic Development Department (EDD), Development Division DESCRIPTION: The primary objective of the CDRLF is to provide assistance to political subdivisions of New Mexico to construct or implement projects necessary to...
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Category: State Incentives, Grants & Loans

AGENCY: New Mexico Community Foundation DESCRIPTION: The New Mexico Community Foundation offers small grants, technical assistance, "capacity building" workshops, and serves as a convener around important issues for non-profit organizations and...
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Category: Local Incentives, Business Expansion

DESCRIPTION: The NMFA is dedicated to improving the lives of New Mexicans by planning and financing infrastructure, strengthening the economy through public/private partnerships and setting the standard for superior, diverse,...
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Category: Local Incentives, Business Expansion

AGENCY: Department of Cultural Affairs, Historic Preservation Division ELIGIBILITY: The state income tax credit is available to owners of historic structures who accomplish qualified, rehabilitation on a structure or stabilization or...
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Category: State Incentives, Tax Incentives

AGENCY: New Mexico Manufacturing Extension Partnership (MEP) DESCRIPTION: MEP is a 501(c) 3 non-profit corporation with an industry lead Board of Directors. Its mission is “to help New Mexico’s existing and...
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Category: Local Incentives, Business Expansion

AGENCY: New Mexico State Investment Council (SIC) DESCRIPTION: The SIC invests in private equity through limited partnerships to enhance the economic climate in the State of New Mexico. ELIGIBLE USE: The SIC, through...
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Category: State Incentives, Grants & Loans

AGENCY: Los Alamos & Sandia National Laboratories DESCRIPTION: The New Mexico Small Business Assistance Program solves small business challenges through national laboratory expertise. ELIGIBLE USES: • Los Alamos and Sandia National Laboratory scientists...
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Category: Local Incentives, Grants & Loans

AGENCY: Environment Department, Air Quality Bureau DESCRIPTION: The primary purpose of the SBAP is to assist small businesses which are or will be subject to requirements under the federal 1990 Clean...
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Category: Local Incentives, Business Expansion

AGENCY: New Mexico Small Business Development Centers (NMSBDC) DESCRIPTION: The mission of the NMSBDC is to strengthen the economy of New Mexico by providing direct assistance, entrepreneurial education and resource linkages...
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Category: Local Incentives, Business Expansion

AGENCY: New Mexico Technet DESCRIPTION: Technet is an Albuquerque-based non-profit organization established to develop a state-of-the-art communications network linking major research laboratories, universities, government agencies and businesses throughout the state. ELIGIBLE USES: •...
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Category: Local Incentives, Business Expansion

AGENCY: Taxation and Revenue Department DESCRIPTION: Tax credits for eligible expenses related to qualified research at a New Mexico facility to provide a favorable tax climate for technology based businesses engaging...
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Category: State Incentives, Tax Incentives

PROGRAM: New Mexico Workforce Connection AGENCY: Office of Workforce Training and Development DESCRIPTION: The NM Workforce Connection is a system that is integrated and coordinated through the alignment of economic development, education...
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Category: Local Incentives, Business Expansion

AGENCY: Loan Fund DESCRIPTION: NMCDLF’s mission is to provide loans and assistance to improve the economic and social conditions of New Mexicans. NMCDLF programs are designed to alleviate the high poverty...
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Category: State Incentives, Grants & Loans

AGENCY: New Mexico Economic Development Department DESCRIPTION: The Office of Business Advocacy advances New Mexico business and enterprise with expansion, retention and growth. ELIGIBLE USE: • Enables business owners to break through regulatory...
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Category: Local Incentives, Business Expansion

DESCRIPTION: Production Credit Associations are customer-owned, credit cooperatives established by farmers and ranchers to provide themselves a source of reliable credit. PCAs form a nationwide system operated under the Farm...
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Category: State Incentives, Grants & Loans

AGENCY: Taxation and Revenue Department ELIGIBILE USES: Real and tangible property is subject to taxation at the local level is eligible for the exemption. PROGRAM LOAN/STRUCTURE: • Maximum Program Benefits: Land, buildings and...
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Category: State Incentives, Tax Incentives

AGENCY: New Mexico State Investment Council (SIC) DESCRIPTION: Severance Tax Permanent Fund (STPF) investment in the U.S. government guaranteed portion of business and/or agriculture loans by financial institutions. ELIGIBLE USES: • The STPF...
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Category: State Incentives, Grants & Loans

AGENCY: U.S. Department of Agriculture (USDA) Rural Development (RD), Rural Business- Cooperative Service (RBS) DESCRIPTION: The purpose of the program is to improve, develop or finance business, industry and employment, and...
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Category: Local Incentives, Grants & Loans

AGENCY: U.S. Department of Agriculture (USDA) Rural Development (RD), Rural Utility Service DESCRIPTION: USDA Rural Development guaranteed loans made by lenders to finance the development of water and waste disposal systems,...
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Category: Federal Incentives, Grants & Loans

AGENCY: US Department of Agriculture (USDA) Rural Development (RD), Rural Business- Cooperative Service (RBS) DESCRIPTION: The Cooperative Development Assistance Program helps rural residents form new cooperative businesses and improve the operations...
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Category: Local Incentives, Business Expansion

AGENCY: U.S. Department of Agriculture (USDA) Rural Development (RD), Rural Housing Service (RHS) DESCRIPTION: Guarantees lender's loans to individuals and families in rural areas who are unable to obtain conventional financing...
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Category: Federal Incentives, Grants & Loans

AGENCY: U.S. Department of Agriculture (USDA) Rural Development (RD), Rural Housing Service (RHS) DESCRIPTION: Guarantees lender's loans to construct rental housing for very low- to moderate- income income households; or elderly,...
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Category: Federal Incentives, Business Expansion

AGENCY: U.S. Department of Agriculture (USDA) Rural Development (RD), Rural Housing Service (RHS) DESCRIPTION: The Housing Preservation Grant (HPG) Program provides grants to sponsoring organizations for the repair or rehabilitation of...
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Category: Federal Incentives, Grants & Loans

AGENCY: US Department of Agriculture (USDA) Rural Development (RD), Rural Business- Cooperative Service DESCRIPTION: The purpose of the program is to finance business facilities and community development projects in rural areas....
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Category: Federal Incentives, Grants & Loans

AGENCY: US Department of Agriculture (USDA) Rural Development (RD), Rural Housing Service DESCRIPTION: This program, also known as the Rural Rental Housing or Section 515 Loan Program, was developed by the...
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Category: Federal Incentives, Grants & Loans

AGENCY: U.S. Department of Agriculture Rural Development (RD), Rural Business-Cooperative Service (RBS) DESCRIPTION: Programs authorized by the 2008 Farm Bill to provide financial support for the development of renewable energy projects...
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Category: Green Incentives, Energy Incentives

AGENCY: U.S. Department of Agriculture Rural Development (RD), Rural Business-Cooperative Service (RBS) DESCRIPTION: Programs authorized by the 2008 Farm Bill to provide financial support for the development of renewable energy projects...
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Category: Green Incentives, Energy Incentives

AGENCY: U.S. Department of Agriculture Rural Development (RD), Rural Business-Cooperative Service (RBS) DESCRIPTION: The Rural Business Enterprise Grants Program provides grants for rural projects that finance and facilitate development of small...
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Category: Federal Incentives, Grants & Loans

AGENCY: U.S. Department of Agriculture (USDA) Rural Development (RD), Rural Business- Cooperative Service (RBS) DESCRIPTION: The purpose of this program is to promote sustainable economic development in rural communities with exceptional...
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Category: Federal Incentives, Grants & Loans

AGENCY: US Department of Agriculture (USDA) Rural Development (RD), Rural Utility Service (RUS) DESCRIPTION: The purpose is to provide zero interest loans to electric and telephone utilities financed by the Rural...
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Category: Federal Incentives, Grants & Loans

AGENCY: US Department of Agriculture (USDA) Rural Development (RD), Rural Housing Service (RHS) DESCRIPTION: Program provides loans for very low- and low-income families who are without adequate housing and live in...
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Category: Federal Incentives, Grants & Loans

AGENCY: U.S. Department of Agriculture (USDA) Rural Development (RD), Rural Housing Service (RHS) DESCRIPTION: The Rural Housing Repair and Rehabilitation Loan and Grant Programs provide loans and grants for home repair...
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Category: Federal Incentives, Grants & Loans

AGENCY: US Department of Agriculture (USDA) Rural Development (RD), Rural Housing Service (RHS) DESCRIPTION: Loans for public or private non-profit organizations to buy and develop building sites. ELIGIBLE USES: • Construction of access...
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Category: Federal Incentives, Grants & Loans

AGENCY: US Department of Agriculture (USDA) Rural Development (RD), Rural Housing Service (RHS) DESCRIPTION: RD Self Help provides grants for technical assistance in building low-income housing. ELIGIBLITY: Uses include technical assistance that...
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Category: Local Incentives, Grants & Loans

AGENCY: New Mexico State Investment Council (SIC) DESCRIPTION: Often referred to as the "Oregon Plan". The Severance Tax Permanent Fund (STPF) may be invested in participations of real estate loans made...
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Category: State Incentives, Tax Incentives

AGENCY: Cibola Communities Economic Development Foundation DESCRIPTION: A variety of incentives offered to encourage economic development in Cibola County. PROGRAM/LOAN STRUCTURE: Financial assistance is provided through gap financing and small business loans. QUALIFICATION...
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Category: State Incentives, Grants & Loans

AGENCY: Energy, Minerals, and Natural Resources Department DESCRIPTION: To encourage the growth of and investment in renewable sources of energy, the state of New Mexico allows a certain amount of credit...
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Category: State Incentives, Tax Incentives

AGENCY: Taxation and Revenue Department ELIGIBILITY: Any taxpayer that is a qualified research and development small business is eligible. The costs of a qualified research and development business are eligible for...
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Category: State Incentives, Tax Incentives

AGENCY: Enchantment Land Certified Development Company (ELCDC) DESCRIPTION: The ELCDC provides free, personalized pre-loan and post-loan advice and training to borrowers. ELIGIBLE USES: The fund’s training and technical services include, but are...
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Category: Local Incentives, Grants & Loans

AGENCY: Enchantment Land Certified Development Company (ELCDC) DESCRIPTION: The SBA 504 Program provides “economic development financing specifically designed to stimulate private sector investment in long-term fixed assets to increase productivity, create...
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Category: Local Incentives, Grants & Loans

AGENCY: Small Business Administration (SBA) DESCRIPTION: CAPLines are revolving lines of credit which allow a borrower to obtain funds as needed from a pre-approved credit account. The general formula is up...
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Category: Local Incentives, Grants & Loans

AGENCY: Small Business Administration (SBA) DESCRIPTION: The Delta program provides financial and technical assistance to defense dependent small businesses adversely affected by defense reductions. The goal of the program is to...
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Category: Federal Incentives, Grants & Loans

AGENCY: Small Business Administration (SBA) DESCRIPTION: Designed to provide short-term working capital to exporters. ELIGIBLE USES: • Proceeds can be used • To purchase land or buildings, to cover new construction as well as...
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Category: Local Incentives, Grants & Loans

AGENCY: Small Business Administration (SBA) DESCRIPTION: Assistance to eligible small businesses in an industry (1) engaged or preparing to engage in international trade or (2) adversely affected by import competition. ELIGIBLE USES:...
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Category: Local Incentives, Grants & Loans

AGENCY: Small Business Administration (SBA) DESCRIPTION: Often referred to as the 7(a) Program. Guarantees loans made by lenders to small businesses. The lender may sell the guaranteed portion into the secondary...
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Category: Local Incentives, Grants & Loans

AGENCY: Small Business Administration (SBA) DESCRIPTION: Pollution Control Loans are 7(a) Loans with a special purpose of pollution control. The program is designed to provide financing to eligible small businesses for...
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Category: Local Incentives, Grants & Loans

AGENCY: Small Business Administration (SBA) DESCRIPTION: The SBA offers guaranteed loans to employee trusts either to (1) help finance the growth of its employer’s small business or (2) to purchase ownership...
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Category: Local Incentives, Grants & Loans

AGENCY: Small Business Administration (SBA) DESCRIPTION: Through the 8(a) Program, small businesses owned by socially and economically disadvantaged persons may obtain federal government contracts and other assistance in developing their business. ELIGIBLE...
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Category: Local Incentives, Business Expansion

AGENCY: Small Business Administration (SBA) DESCRIPTION: SCORE is a volunteer program sponsored by the SBA. The program matches volunteers with small business owners who need advice. ELIGIBLE USES: • In-depth counseling and training...
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Category: Local Incentives, Training & Consulting

AGENCY: Small Business Administration (SBA) DESCRIPTION: The Small Business Innovation Research Program provides an opportunity for small technology-based firms to compete for federal research and development contracts. ELIGIBLE USE: • Phase I: Exploration...
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Category: Federal Incentives, Grants & Loans

AGENCY: Small Business Administration (SBA) DESCRIPTION: SBIC's are privately-owned and operated investment companies licensed by the SBA to provide equity, venture capital and/or loans to small businesses and minority-owned businesses. ELIGIBLE USE: •...
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Category: Local Incentives, Business Expansion

AGENCY: Taxation and Revenue Department DESCRIPTION: As of the 2006 Legislature, a 10% tax credit on the installation and purchase of solar thermal and photovoltaic systems in a residence, business, or...
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Category: State Incentives, Tax Incentives

DESCRIPTION: The Space Alliance Technology Outreach Program provides a free service designed to speed the transfer of space technology to the private sector by assisting small businesses facing technical challenges. ELIGIBILITY:...
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Category: Local Incentives, Business Expansion

AGENCY: Los Alamos National Laboratory, Phillips Laboratory, Sandia National Laboratory and University of New Mexico (UNM) DESCRIPTION: Technology transfer is now a mission of all Department of Energy Laboratories. The labs...
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Category: Green Incentives, Energy Incentives

DESCRIPTION: TVC is incorporated as a non-profit company in New Mexico to support start-up and expanding technology-based companies. PROGRAM/LOAN STRUCTURE: • Maximum Program Benefits: The operating concept of TVC is to: • Develop...
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Category: State Incentives, Grants & Loans

AGENCY: North Central New Mexico Economic Development District (NCNMEDD) DESCRIPTION: The Tri-County Regional Revolving Loan Fund is an incentive implemented to assist counties impacted by program changes experienced by Los...
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Category: State Incentives, Grants & Loans

AGENCY: UNM Bureau of Business and Economic Research (BBER), University of New Mexico DESCRIPTION: Provides research and information services for businesses and economic development organizations. BBER maintains a socioeconomic data bank...
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Category: Local Incentives, Business Expansion

AGENCY: Utility Companies DESCRIPTION: Because a healthy business environment is important to utility companies, most have business development specialists on staff. ELIGIBLE USES: • Most utility companies provide rate incentives to their industrial...
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Category: Local Incentives, Business Expansion

AGENCY: Department of Veterans Affairs (VA) DESCRIPTION: Assists eligible veterans to purchase single-family homes by guaranteeing a lender's mortgage against loss. Each qualified veteran receives a certificate of eligibility which provides...
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Category: Federal Incentives, Grants & Loans

DESCRIPTION: Venture capital is a source of private capital. ELIGIBLE USE: • Fund raising technique. • Generally requires the exchange of equity in return for funding. • Generally requires a high rate of return...
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Category: State Incentives, Grants & Loans

AGENCY: National Minority Suppliers Development Council (NMSDC) or Small Business Administration (SBA) DESCRIPTION: The primary objective of the National Minority Supplier Development Council is to provide a direct link between corporate...
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Category: Local Incentives, Business Expansion

DESCRIPTION: WESST is a non-profit organization whose purpose is to help create economic security by reducing the risks of starting and owning a business. ELIGIBLE USES: • WESST will assist a business...
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Category: Local Incentives, Business Expansion

DESCRIPTION: A legal structure for employee ownership of a business. ELIGIBLE USE: • A worker cooperative will credit members with a portion of net earnings and use the funds as tax-free money...
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Category: State Incentives, Grants & Loans

AGENCY: Albuquerque Technical Vocational Institute (TVI) DESCRIPTION: The Workforce Training Center provides innovative, customized training, skill development, and business consulting of the highest quality in order to foster and enhance economic...
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Category: Local Incentives, Grants & Loans, Training & Consulting



Greater Gallup Economic Development Corporation | 102 W. Hill Avenue, PO Box 1795 | Gallup, NM  87301
Phone (505) 722-2980 | Fax (505) 722-2987