Community Profile

Tucumcari and the Quay County communities of Logan, San Jon, and House are small communities strategically located along the Interstate 40/US54 corridor between Albuquerque and Amarillo. With excellent educational services, transportation access and low costs of doing business, Tucumcari and her sister communities are poised to serve the relocating or expanding business community.

Ute Lake sits adjacent to Logan and Conchas Lake sits at Tucumcari’s back door. Both provide world class outdoor recreation. Mesalands Community College provides numerous community services, including a state of the art fitness center, a world class paleontology program and Dinosaur Museum, and a state of the art bronze foundry. Mesalands is also home to the North American Wind Research and Training Center, providing O&M training in the world’s tallest classroom, a 400’ tall tower capped by a 1.5MW GE turbine. Mesalands specializes in customized training for any industry.

With no congestion, short commutes, quality educational programs and an abundance of outdoor recreation, Tucumcari offers big city services in a small town environment.

The Numbers

Population
Catagory Tucumcari New Mexico
Population, 2011 estimate     5,354 2,078,674
Population, 2010     5,363 2,059,179
Persons under 5 years, percent, 2010     6.8% 7.0%
Persons under 18 years, percent, 2010     24.0% 25.2%
Persons 65 years and over, percent,  2010     18.7% 13.2%
Female persons, percent, 2010     52.1% 50.6%

 

Race
  Tucumcari New Mexico
White persons, percent, 2010 81.4% 68.4%
Black persons, percent, 2010 1.7% 2.1%
American Indian and Alaska Native persons, percent, 2010   1.2% 9.4%
Asian persons, percent, 2010 1.2% 1.4%
Native Hawaiian and Other Pacific Islander, percent, 2010 0.1% 0.1%
Persons reporting two or more races, percent, 2010     4.2% 3.7%
Persons of Hispanic or Latino origin, percent, 2010 57.4% 46.3%
White persons not Hispanic, percent, 2010     37.9% 40.5%

 

Education Levels
  Tucumcari New Mexico
Living in same house 1 year & over, percent, 2007-2011     77.6% 84.6%
Foreign born persons, percent, 2007-2011     2.1% 9.8%
Language other than English spoken at home, percent age 5+, 2007-2011     41.5% 36.2%
High school graduate or higher, percent of persons age 25+, 2007-2011     72.3% 83.1%
Bachelor's degree or higher, percent of persons age 25+, 2007-2011     12.7% 25.4%
Veterans, 2007-2011     585 176,805
Mean travel time to work (minutes), workers age 16+, 2007-2011     19.2 21.8

 

Geography QuickFacts
  Tucumcari New Mexico
Land area in square miles, 2010     9.49 121,298.15
Persons per square mile, 2010     565.1 17
FIPS Code     79910 35

 

Work Ready

Educational Attainment
  Estimate Percentage
Population 25 years and over 3,630 3,630
Less than 9th grade 394 10.9%
9th to 12th grade, no diploma 613 16.9%
High school graduate (includes equivalency) 1,482 40.8%
Some college, no degree 602 16.6%
Associate's degree 78 2.1%
Bachelor's degree 283 7.8%
Graduate or professional degree 178 4.9%
     
Percent high school graduate or higher   72.3%
Percent bachelor's degree or higher   12.7%

 

School Enrollment
   Estimate Percentage
Population 3 years and over enrolled in school 1,216 1,216
Nursery school, preschool 29 2.4%
Kindergarten 114 9.4%
Elementary school (grades 1-8) 579 47.6%
High school (grades 9-12) 293 24.1%
College or graduate school 201

16.5%

 

 

Logistics

Highways

Historic Route 66 (Interstate 40)
US Highway 54
State Highway 104
State Highway 209

 

Air Transportation
Nearest Airport
Miles from the Airport
Tucumcari Municiple Airport 5

 

Location from Major Cities
Amarillo, TX 110 miles
Albuquerque, NM 170 miles
Abilen, TX 334 miles
Austin, TX 636 miles
Chicago, IL 1112 miles
Dallas, TX 471 miles
Denver, CO 397 miles
Los Angelos, CA 978 miles
Las Vegas, NM 123 miles
Seattle, WA 1650 miles

 

Business Incentives

Local Incentives


The Greater Tucumcari Economic Development Corporation, as advisor to the city on local gross receipts tax economic development fund, would consider capital requests for “bricks and mortar” costs as follows:

  1. GTEDC and the City of Tucumcari could provide capital investment towards construction of a facility on industrial park property, or of capital equipment purchases. This investment would be contingent upon the GTEDC receiving a letter of commitment on the part of Prospect to locate in Tucumcari, NM, completion of a Project Participation Agreement, and hiring a major percentage of personnel from our local labor pool. The City of Tucumcari is allowed to invest up to 10% of the General fund as allowed under the Local Economic Development Act.
     
  2. Additionally, the City of Tucumcari and the County of Quay would consider supporting the issue of industrial revenue bonds to finance the project. The project would qualify as eligible projects include headquarters buildings, warehouses and manufacturing plants. The project could potentially be exempt for up to 30 years from gross receipts taxes on tangible property and equipment and from property taxes on land, buildings, and equipment.
     

General Tax Credits


High-Wage Jobs Tax Credit

Companies may take a credit equal to ten percent of the combined value of salaries and benefits for each new job paying a minimum of $28,0000 per year in areas with populations less than 40,000 persons; companies located in larger areas must pay salaries of $40,000 to receive the credit. Qualified employers may take the credit for up to four years and any excess credit will be refunded to the business. The credit shall not exceed $12,000 per year, per job. The credit is applied against the businesses tax liability, including the state portion of gross receipts tax, compensating tax and withholding tax.

Manufacturer's Investment Tax Credit

Manufacturers may take a tax credit of five percent of the value of qualified equipment and other property used in their operation. The credit can be applied against compensating, gross receipts or withholding tax up to 85% of the total. Any remaining available credit may be claimed in subsequent reporting periods. In addition, the company must add one new job for each credit up to $30 million; and one new employee must be hired for each $500,000 in equipment.

New Markets Tax Credit

This is an investment tax credit which varies based on the cost of the project. For example: If a business invests $1,000,000 into a low-income area of New Mexico, the business can apply for a tax credit totaling $390,000 which would be disbursed over the course of seven years. The business must remain invested in the project for a minimum of seven years to earn the tax credit.

Rural Jobs Tax Credit

Eligible employers must be located in a rural area and be approved for the JTIP program. Employers receive a credit of 6.25% of the first $16,000 in wages. If the job is located in a Tier 1 community (< 15,000 in population), the employer may take the credit for four consecutive years. Businesses located in a Tier 2 community (> 15,000 in population) may take the credit for two consecutive years. If the amount of credit exceeds the businesses tax liability, the excess may be carried forward for up to three years. Rural New Mexico is defined as any part of the state other than Los Alamos, Albuquerque, Rio Rancho, Las Cruces and Santa Fe – and a 10 mile zone around municipalities.
 

Technology Jobs Tax Credit

Businesses may take a credit on research expenditures of 4% (8% in rural areas). Qualified expenditures may include land, buildings, equipment, computer software and upgrades, consultants, technical literature, test materials, patents, payroll, and labor. The credit may be taken against gross receipts tax, compensating tax or state payroll tax, and may be carried forward. An additional 4% may be applied against state income tax if base payroll expenses will be increased by at least $75,000 per $1,000,000 of expenditures claimed.

Angel Investment Tax Credit

A taxpayer who files a New Mexico income tax return and who is a “qualified investor” may take a tax credit of up to $25,000 (25% of a qualified investment of not more than $100,000).

 

Clean Renewable Energy


Advanced Energy Tax Credits

Advanced energy facilities, such as solar thermal electric generating, advanced technology coal generating or recycled energy, may qualify for up to $60 million in credits. The credit is equal to 6 percent of facility development and construction expenditures.

Alternative Energy Product Manufacturers Tax Credit

Manufacturers of electric or hybrid vehicles, fuel cell systems, renewable energy systems, IGCC systems, and carbon sequestration equipment may receive for a tax credit of up to 5 percent of the their capital expenses. The credit may be applied against gross receipts, compensating, or withholding tax and may be carried forward for up to 5 years.

Biodiesel Blending Facility Tax Credit

A business which installs biodiesel blending equipment owned by the rack operator for the purpose of establishing or expanding a facility to produce blended biodiesel fuel is eligible to claim a credit against gross receipts tax and compensating tax.. The credit is equal to 30% of the purchase cost of the equipment and the cost of installing that equipment. The credit cannot exceed $50,000 with respect to equipment installed at any one facility nor can the claims exceed $1,000,000 per calendar year.

Blended Biodiesel Fuel Tax Credit

Provides a tax credit on blended biodiesel fuels (minimum of 2 percent biodiesel). Gross receipts and compensating tax may be deducted for installing biodiesel blending infrastructure up to $50,000 per facility or $1 million per year.

Hybrid Vehicle Tax Exemption

Purchasers of hybrid gasoline-electric vehicles with an EPA fuel economy rating of 27.5 miles per gallon or better can save between $600 and $1,000 in-state tax savings in addition to the federal tax deduction.

Renewable Energy Production Tax Credit

Each renewable energy generator of one megawatt or more may earn an income tax credit (personal or corporate) of 2.7 cents (on average) per kilowatt-hour for the first four hundred thousand megawatt-hours (=400,000,000 kilowatts) of electricity produced for ten consecutive years, beginning with the first year of production. New Mexico’s is fully refundable.

Solar Energy Systems Gross Receipts Tax Exemption

Power produced from solar electric and solar thermal energy systems is exempt from gross receipts tax when the generated power is used on-site.

Solar Market Development Income Tax Credit

Augments the federal solar tax credit by reimbursing up to 30 percent of the cost of a solar photovoltaic or solar thermal system. Solar system owners can receive up to $2,000 federal solar tax credits and up to $9,000 in state solar tax credits.

Sustainable Building Tax Credit

This credit provides income tax credits for building energy-efficient, sustainable commercial, institutional and residential buildings. Homes must be 40 percent more energy efficient than the standard building code. Commercial and institutional buildings must be 50 percent more energy efficient.

 

Technology and Manufacturing


Research and Development Gross Receipts Tax Deduction

R&D services exported from the state are deductible from the gross receipts tax.

Research & Development Small Business Tax Credit

Qualified small businesses receive a tax credit equal to the sum of all gross receipts, compensating and withholding taxes due if at least 20% of their total annual expenses are for R&D.

Rural Software and Web Site Gross Receipts Tax Deduction

Receipts from software and web development services located in rural New Mexico are deductible from the gross receipts tax.

Technology Jobs Tax Credit

Tax credits up to 8% of expenditures (including payroll) available for research and development in urban areas, doubling to 16% in rural communities.

 

Telemarketing


Telemarketing Gross Receipts Tax Exemption

Receipts from WATS (Wide Area Telephone Service) and private communications services are exempted from gross receipts tax and interstate telecommunications gross receipts tax act.

 

Tourism

Tucumcari lies in the middle of some of the best outdoor recreational amenities in the State of New Mexico. Outdoor recreation opportunities are enhanced by the area's climate, which averages 600 for the annual average and ranges from 480 in the winter to the high 80's for the summer. Both the outdoor recreation and climate aspects enhance Tucumcari's potential as a major tourist center.

Tucumcari is located along Historic Route 66, which passes through the heart of the community. Along Route 66, are original buildings and neon signs that have made Tucumcari famous to many tourists. For more information:

Chamber of Commerce


Convention Center


Gail Sanders, Director Nicole Manley, Director
404 W Rt 66 1500 W Rt 66
(505) 461-1694 (505) 461-3064

 

For other tourism activities in Quay County


www.visittucumcarinm.com

www.utelake.com