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Santa Teresa Business Climate |
Santa Teresa Business Climate
Overview
| Factor | Santa Teresa, NM | El Paso, TX | | Logistics efficiency | 10-Minute US/Mexico Border Crossings | 2-3 Hour US/Mexico Border Crossings | | Tax and regulation | Overall tax advantage in most cases | Overall tax disadvantage in most cases | | Utilities | Slight cost advantage | Slight cost disadvantage | | Labor | Same | Same | | Real Estate | 100% new investment grade; Only rail-served property in the area | Older facilities; no rail-served property currently available | | Incentives | Easier access to incentives; Less competition for incentives within state | More difficult to obtain major incentives; Greater competition for incentives within state |
New Mexico Incentives � Industrial Revenue Bond - Property Tax Abatement
� Gross receipts tax forgiveness
� Non-Taxable Industrial Revenue Bond - Property Tax Abatement
� Lower cost of capital
� Gross receipts tax forgiveness
� Compensating tax credits
� Investment tax credits
� Foreign Trade Zone
� In-plant training grants
� Proprietary on-site training
� Daycare tax credit |
Taxes� New Mexico Corporate Income Tax and Franchise Fee lower than Texas Franchise Tax
� New Mexico Personal Income Tax offset by higher Texas Property Tax
� New Mexico Worker's Compensation Insurance rates lower than Texas
� No New Mexico Property Tax charged on Inventory
� Gross Receipts Tax in Santa Teresa, NM lower than in El Paso, TX |
Incentives