New Mexico’s governor Bill Richardson understands the importance of fostering an entrepreneurial spirit in his state. It is a welcome move for a state that has one of the highest percentages of government jobs in the country. This move and other changes that I’ve seen in the several visits that I’ve made to the state during the past several months lead me to believe that New Mexico is on the verge of breaking away from the pack in job creation.
Richardson’s proposal would allow private investors an income tax credit of $25,000 per investment, with a maximum of $75,000 in credits per year. Such a move would spur new investment, ignite entrepreneurial endeavors and be a tremendous job generator. The long term benefits to the citizens of New Mexico and the state would be substantial.
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