Las Vegas San Miguel
Economic Development Corporation
“A perfect destination for your company and family”

City of Las Vegas Economic Development Incentive Opportunities

The City of Las Vegas has substantial resources available to assist businesses wishing to relocate or expand in Las Vegas. The City works through the Las Vegas, San Miguel Economic Development Corporation (LVSMEDC) to qualify applicants and to negotiate agreements that allow businesses to take advantage of these resources.

Incentive Opportunities Include:

Lease of City-owned properties
Industrial park
Property tax abatements
Access to loan funds
Industrial revenue bonds
Job training funds
Infrastructure improvement
Customized incentives

Are you eligible ?

Any existing or proposed corporation, limited liability company, partnership, joint venture, syndicate, association or other person is eligible provided that it meets one or more of the following criteria:

an industry for the manufacturing, processing, or assembling of any agricultural or manufactured products;

a commercial enterprise for storing, warehousing, distributing, or selling products of agriculture, mining or industry, but, other than provided in Paragraph (D) of this subsection, not including any enterprise for sale of goods or commodities at retail or for the distribution to the public of electricity, gas, water, or telephone or other services commonly classified as public utilities;

a business in which all or part of the activities of the business involves the supplying of services to the general public or to governmental agencies or to a specific industry or customer, but, other than provided in Paragraph (D) of this subsection, not including businesses primarily engaged in the sale of goods or commodities at retail;

a telecommunications sales enterprise that makes the majority of its sales to persons outside of New Mexico.

What's the application process?

Our process for awarding economic development incentives is governed by the city's Economic Development Plan Ordinance (City Ordinance No. 01-19). The basic steps in the process are as follows:

1. LVSMEDC staff will meet with you to determine whether or not you are eligible for incentives offered through the City. We'll then discuss your specific needs and see how the City and/or LVSMEDC can best assist you. Together, we will come up with a preliminary plan of action.

2. You submit a formal application for incentives by the providing the information requested in this packet to the LVSMEDC office. LVSMEDC staff will review the information you supply in order to qualify you as a viable business partner, and to determine the economic benefits of your business to the community. All of the information requested is required by law before any economic development incentives can be provided.

3. Once your application is complete, LVSMEDC staff will negotiate with you regarding the specific incentives to be provided. The amount and type of incentives offered will correlate directly to the positive economic impact that your project will have on the community.

4. LVSMEDC staff will draw up a formal Project Participation Agreement, outlining the exact responsibilities of each party, and forward it to the LVSMEDC Board of Directors for acceptance. The Board will then forward its recommendation to the City Council, along with minutes of the Board meeting and any other pertinent background information.

5. The City Council will make a final determination on the Agreement at a public hearing.

Copyright © 2003 Las Vegas New Mexico Economic Development . All rights reserved.   
View Policies: Legal Disclaimer | Privacy Policy