New Mexico

Economic policy

The Economic Development Department promotes industrial and community development through such measures as tax-free bonds for manufacturing facilities; tax credits for investment and for job training, venture capital funds; and community development block grants. The state also seeks export markets for New Mexico's products and encourages use of the state by the film industry. Total incentives to employ 100 workers in a rural area, exporting most of the product, and investing at least $15 million amounted to almost $4 billion in 2000. The Economic Development Division, the biggest part of the Economic Development Department, focuses on business and community development. Separate divisions include International Trade, the Film Office, and the New Mexico Office for Space Commercialization (NMOSC).