New Mexico Launches Incentive for Quantum Technologies

Written By Hickey Team

New Mexico Quantum Technologies Award Pilot Program now accepting applications

The New Mexico Economic Development Department (EDD) has introduced the New Mexico Quantum Technologies Award Pilot Program (NMQTA), a state grant initiative designed to foster the growth or attract the relocation of quantum technology companies to New Mexico. This program aims to strengthen the state's economic base and generate job opportunities by supporting the expansion of quantum technology businesses. Application period is now open and closes on May 30th, 2025.

SNAPSHOT

  • New Mexico launches Quantum Technology Award Pilot Program.

  • Incentives to support the growth or relocation of quantum technology companies in New Mexico.

  • Incentives include grant benefit.

  • Application Period Open: December 5, 2024 through May 30, 2025

EVALUATION CRITERIA

  • Must have a company formed that has received a previous form of outside funding.

  • Affirm ability to establish a company presence in New Mexico by June 30, 2025 –company presence in New Mexico includes having a NM CRS Tax ID, a physical NM address, EIN number, and employees physically present and working in New Mexico

  • Maintain company presence in New Mexico for two years

  • Certify they do not have overdue tax debt and are not party to any claim or lawsuit

  • Must agree to all reporting and claw-back requirements.

POTENTIAL VALUE

  • The NMQTA Pilot Program is a competitive grant opportunity. The department seeks to make five awards of $100,000 each.

CONNECT WITH THE HICKEY’S INCENTIVES TEAM

The Hickey & Associates incentives team has advised companies navigating incentives in the State of New Mexico for decades. Applications are open now! Contact us for more specifics, including eligibility criteria, application details, and funding requirements. If you’d like our support throughout the application process, we are here to help!

Hickey Team

Hickey & Associates makes learning about commercial site selection easy. We share information in writing and through videos and images, covering topics like grants and incentives advisory, location strategy, and supply chain logistics. Our team helps you find the best places for your business, get financial benefits, and make your supply chain work better. We are here to make complicated things simple and beneficial for your business's growth.

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