During the 30-day legislative session, which is entering its three-week, the governor of the state and lawmakers are looking for ways to encourage employers to hire and to build their businesses in the state and city. There are many ways to do this, but the governor's aim is to see an improvement in tax credits that would pull in companies. Here is what she's considering and promoting.
· Cut small business taxes for more than 40,000 businesses in the state. This will in turn help to create jobs.
· Implement tax credits that would encourage the creation of jobs in the high tech research and development areas.
· Reform the gross receipts tax on services, which can lead to costly tax situations for businesses.
Why should this happen? One of the reasons comes from the University of New Mexico's graduate student Travis McIntyre, who is quoted by KOB has saying, "Only 40 percent of the graduate students stay and work in New Mexico after receiving their degree. We want to do something about that because more than that, 40 percent want to stay and work in this state." This brain drain could be a reason why so many jobs in these fields are not present in Albuquerque's job market.