As is already well known, the aviation and aerospace industries contribute heavily to the state of New Mexico. The Alliance for Aviation Across America recently estimated that general aviation in New Mexico brings in an average revenue stream of more than $750 million (equaling more than $375 per capita) to the state’s economy.
During the most recent legislative session, two significant and favorable bills were passed by both chambers of the legislature and were recently signed by Governor Martinez.
House Bill 14 established the exemption from gross receipts tax for all aircraft parts and maintenance labor. Since these taxes ranged from 5.125% to 8.6875% (depending upon location), this exemption creates attractive opportunities for many companies within the aviation and aerospace industries. Since most neighboring states have already granted similar exemptions, this new law now place New Mexico on a level playing field, and when factoring in other benefits of relocating to New Mexico as compared to surrounding states, many group consider this as a major coup in attracting new businesses to the Land of Enchantment.
Both chambers also passed for approval House Bill 24, which provides a gross receipts tax exemption for aircraft exceeding 10,000 take off weight sold to either military or commercial carriers. Once more, this logical and business-positive approach indicates that New Mexico understands the importance of attracting new business to the state.
The board members of New Mexico Aviation Aerospace Association worked closely with groups and representatives to communicate the desire and will of the people and the legislative body listened and responded to the wishes of the majority of New Mexicans. We encourage any pro-business individual or organization to become a member of New Mexico Aviation Aerospace Association to help support our continuing efforts in improving both the economic and employment pictures in our state.
Aviation Day in Santa Fe on February 19th, 2014 in the Round House.
Coming in 2014. Be sure to check regularly for details!
The New Mexico Aviation Aerospace Association Education Alliance is an organization made up of Industry, Educators and other community-minded people that are coming together to help develop the Aerospace/Aviation industry in New Mexico through an aggressive education-based program.
Their first meeting was held on April 26, 2013 in Albuquerque and generated much positive attention and helpful information to kick start this important alliance. Please visit the Education Alliance page on our web site to learn how you can help this worthy and exciting cause.
John Uczekaj, one of the founders of the New Mexico Aviation Aerospace Association and CEO/President of Aspen Avionics, has been named Aviation Entrepreneur of the Year by the Living Legends of Aviation.
Uczekaj was selected for the honor for taking the company from a startup to an industry leader in avionics, as well as growing the company and securing investments to fund new products. The awards are produced by the Kiddie Hawk Air Academy, a program that introduces children to aviation. The 2013 awards were the 10th annual for the academy.
Original news release can be viewed here.
Welcome to New Mexico Aviation Aerospace Association. The NMAAA is a statewide, industry driven economic development and advocacy organization. Click the About link to review our mission/vision statements and meet our leadership team.
Be sure to bookmark this page and return regularly in order to receive important information and updates about the aviation and aerospace industry in New Mexico.