Dear Border Industrial Association Members:
The 2013 New Mexico Legislative Session adjourned this past Saturday. The session was a very good one for our BIA membership, as we successfully achieved $3.8 million extra funds for improvements to the water/wastewater treatment system in Sunland Park/Santa Teresa.
Other highlights include:
- $3.3 million for the Local Economic Development Act fund, which is administered by Jon Barela. We will be lobbying Jon for a portion of these monies to supplement the $3.8 million we received during the legislative session.
- $3 million for the Job Training Incentive Program (JTIP). If any BIA member is planning to expand his/her workforce, the JTIP program can help cover training costs.
- $350,000 to build an access road at the Santa Teresa Port of Entry for a Customs clearance pilot program that CBP will be launching with Foxconn. This will be the second such pilot program on the entire U.S.-Mexico border and promises to expedite northbound commercial truck traffic at the port.
- Reduction of the corporate income tax (phased in over five years) from 7.6% to 5.9%.
- The implementation of a Single Sales Factor for all manufacturers that does not include an investment threshold.
- An increase in the budget of the New Mexico Partnership from $630,000 to $930,000. The Partnership is the non-profit entity with which the state contracts to recruit new industry to New Mexico.
Unfortunately, time ran out on HB 235 (the gross receipts tax reduction for trade support companies), which would have removed the sunset on this bill. However, given the scope of the above, we have to consider the session to be a successful one.