Next-gen tech tax credits and economic development
The governor asked for $150 million in tax credits for next-generation technologies such as quantum computing and fusion to grow innovative industries and jobs. Related legislation moved general-fund support toward AI, quantum, advanced energy, aerospace, defense, and bioscience hubs, raising classic debates over industrial policy versus fiscal restraint.
Should New Mexico use large tax credits and funds to recruit quantum, fusion, and similar industries?
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Sources
Governor Michelle Lujan Grisham — https://www.governor.state.nm.us/2026/01/20/governor-delivers-2026-state-of-the-state-address
I’m asking this legislature to approve $150 million in tax credits for next generation technologies like quantum computing and fusion, to help cement New Mexico’s place as the home of America’s most innovative industries.
NMSU Government Relations summary of SB177 — https://govrelations.nmsu.edu/NMSU-2026-Legislative-Session-Summary-Highlights.pdf
Makes transfers and appropriations from the general fund to support economic development initiatives in strategic sectors including artificial intelligence, quantum technology, advanced energy, aerospace and defense, and bioscience.
Positions on this issue · liberal → conservative
- Heavily subsidize green and advanced tech jobs with large credits and public R&D hubs
- Approve substantial tax credits for quantum, fusion, and similar strategic industries
- Offer limited, performance-based incentives and pair them with workforce education
- Prefer broad low taxes over targeted tech credits for specific industries
- Reject special tech tax credits and cut economic-development carve-outs