Through the partnership between the Clovis/Curry County Chamber of Commerce and Clovis Economic Development, we’re committed to helping businesses thrive with a range of financial and technical support programs tailored to your needs.
Clovis and Curry County provide a supportive environment for businesses looking to expand or relocate, with access to state and local incentives designed to reduce costs and foster growth. Here’s a look at some of the key programs available:
Clovis and Curry County provide a supportive environment for businesses looking to expand or relocate, with access to state and local incentives designed to reduce costs and foster growth. Here’s a look at some of the key programs available:
New Mexico supports targeted industries with specialized incentives. For example, the Renewable Energy Production Tax Credit offers 2.7 cents per kilowatt-hour for the first 400,000 megawatt-hours of electricity produced over ten years, fully refundable. Aerospace businesses can benefit from deductions on receipts from aircraft manufacturing, maintenance, or R&D services sold to the U.S. Air Force. Additionally, qualified research facilities in rural areas like Clovis can claim an 8% credit on expenditures for land, equipment, and technical resources, which can be applied against various state taxes or carried forward.
The New Mexico Job Training Incentive Program provides flexible support for workforce development, reimbursing up to 50% of trainees’ wages for 1,040 hours in urban areas, or 100% of classroom training costs at institutions like Clovis Community College. Customized training can be conducted on-site or on-campus, often at little to no cost to the employer, ensuring your team is ready to succeed. Clovis Community College’s Industrial Technology Program also designs tailored training programs to meet specific employer needs.
Through the “IRB-Lite” program, new business facilities in Clovis can qualify for a property tax exemption on commercial equipment for up to 20 years. The City of Clovis also offers cash assistance for qualifying businesses, including low-interest loans, subsidized land costs, and performance-based grants, negotiated on a case-by-case basis to support economic development projects like purchasing land or infrastructure.
The Clovis Industrial Development Corporation (CIDC), a private nonprofit organization, works closely with qualified businesses to provide land, buildings, and financial incentives for industrial development. By partnering with the CIDC, companies can access personalized support to help them grow and succeed in Clovis, ensuring a smooth transition and long-term success.
