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In New Mexico, innovation is literally moving at the speed of light. Over the last several decades, laboratories, working with private industry, have led the way in developing new “directed energy” technologies. My own company, Fiore Industries, has built microwave systems that can disable the engine of a speeding car and neutralize Anthrax in packages. We’re turning science fiction into science fact.
As directed energy technologies take off over the next two or three decades, New Mexico stands to create hundreds of new high-skill jobs and billions of dollars in new investment when the manufacturing starts.
The only thing standing in the way of this enormous economic growth is New Mexico’s sales tax, which makes it too expensive for the government to award the contracts to local companies. Known as a gross receipts tax, New Mexico’s sales tax adds a seven percent charge to all directed energy manufacturing.
That’s unusual because states are technically forbidden from taxing the federal government directly. A gross receipts tax skates past this rule by taxing the contractor, not the government.
I’ve seen the impact firsthand. Several years ago, my company won a contract to develop the early modeling for a new directed energy system.
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