5 Reasons Your Company Should Relocate to New Mexico

Find out why it makes sense to move your business to the Land of Enchantment.

By Kelly Rogers on December 15, 2023

Michael Pierce

Choosing the right place to start or grow your business is an important decision, and there are always multiple factors to consider. From a supportive business community to a robust pipeline of talent, here’s a quick snapshot of five reasons why your company should relocate to New Mexico. 

1. Relocate to New Mexico for a Great Location 

One of New Mexico’s biggest draws for businesses is its transportation connectivity. Whether by road, air or rail, New Mexico is extremely accessible. It contains three major interstates, two major railroad providers (BNSF and Union Pacific), and a multitude of rail-served parks. Seventy-five percent of the United States is reachable within two days by truck, and the state is equidistant to two international ports – Los Angeles/ Long Beach and Houston.

2. Find Excellent Research and Development

Innovation and research are woven into the fabric of New Mexico’s history. For decades, its research and development (R&D) ecosystem has been a source of growth. New Mexico is home to three national labs: Sandia National Laboratories and Los Alamos National Laboratory, which are both Department of Energy national labs, and the Air Force Research Laboratory, which is home to the Directed Energy and Space Vehicles directorates. The state was even ranked No. 1 in nonindustry investment in R&D and No. 2 for high-tech jobs by Business Facilities. 

3. Move to New Mexico for Great Incentives, Low Costs 

New Mexico has a plethora of incentives available for businesses, both relocating and expanding from within the state. One of the most impactful of those incentives is the state’s Job Training Incentive Program (JTIP), which reimburses 50% to 75% of wages for on-the-job and classroom training for expanding or relocating businesses for up to six months. The state also provides numerous industry specific incentives like the Rural Jobs Tax Credit or the Manufacturers Investment Tax Credit.

Also, the cost of doing business in New Mexico for most industries is lower than the national average. Finally, with a mild climate year-round and a low cost of living, quality of life in New Mexico is undeniable, driving talent to the state. What more could you ask for? 

4. Hire Highly Skilled People in New Mexico 

The ability to find talented people with the right skill set is crucial for business growth. If you relocate to New Mexico, your company will find a pool of diverse talent, ranging from experienced professionals to fresh graduates from one of several universities. New Mexico has concentrations in everything from engineering and the sciences to logistics and manufacturing. 

5. Be a Part of a Fast-Growing Population 

A lot of people are choosing to relocate to New Mexico. The state’s population is at 2.1 million people and counting, and from 2000 to 2018, it experienced a 31% increase. In the last five years alone, over 350,000 people have relocated to New Mexico, many coming from nearby states like Arizona, California, Texas and Colorado. The Mountain Region, of which New Mexico is a part, has one of the fastest growth rates in the nation.