New Mexico Franchise Opportunities
If you want a state that offers a multitude of incentives for opening a business, low income taxes and plenty of room to set up shop, New Mexico could be a stellar place for you to being a new adventure in franchising!
Location, location, location
New Mexico has the highest percentage of Hispanic residents, as well as the second highest percentage of Native Americans, making it a unique cultural melting pot. Check out these suggestions of cities you might want to call home:
- Albuquerque: The largest city in the state with more than 555,000 residents, it straddles the Rio Grande River and is well known for its hot air balloon festival.
- Las Cruces: “The City of Crosses,” it’s located in the middle of the agricultural valley in the state. It also is a production spot for many films and TV shows!
- Santa Fe: The oldest state capital in the nation, Santa Fe is full of history and culture.
Oil and gas account for a large chunk of New Mexico’s economy. The state is the third leading oil and gas produced in the country, producing more than 10 percent of the natural gas in America.
The federal government also adds to the economy, as it has three air force bases and an Army base in the state.
Tourism also plays a large part, with people coming to take in the Hispanic and Native American cultures, as well as the hot balloon rides. Consider opening a hotel or travel service (link) franchise here!
Business Incentives and Taxes
New Mexico offers many economic incentives to businesses looking to open in the state, including tax credits and tax exemptions, mostly based on job creation.
The state charges a corporate income tax ranging from 4.8 to 7.6 percent, as well as a franchise tax of $50 annually. The state personal income tax spans from 1.7 to 4.9 percent.
Maryland Franchise Opportunities
Maryland might be small (only slightly larger than Hawaii), but it’s mighty—the wealthiest state in the nation with the highest median household income and the most millionaires per capita. Maryland takes advantage of its close proximity to Washington, DC, and is home to many companies in the defense, aerospace, biotechnology and governmental fields.
Indiana Franchise Opportunities
What once really was the “Land of the Indians,” Indiana is now home to nearly 6.6 million people, with the largest group of the population hailing from German lineage.
North Dakota Franchise Opportunities
North Dakota is booming—it has the lowest unemployment rate, the fastest growing GDP and has the largest percent increase in population in the past five years. A new kind of gold rush has brought this all about, and if you’re willing to cater to the oil field workers, you too can cash in on the opportunities abounding in this northern state.