Doing Business in Rio Rancho
Economic Development Incentives and Finance
Gross Receipts Investment Policy (GRIP)
The GRIP ordinance allows the City to either rebate impact fees paid by the business, and/or to utilize up to one-half of all gross receipts taxes directly attributable to the business, to provide a direct incentive for the location or expansion of the business to or in Rio Rancho and/or to assist in paying the costs expended to provide for public infrastructure in support of the business. GRIP incentives shall be as prescribed in an individually-tailored agreement between the developer and City of Rio Rancho, as approved by the Governing Body following a public hearing in keeping with the ordinance provisions, and consistent with policy guidelines.
For more information on GRIP, please see Article 17 of Chapter 7, Rio Rancho Revised Ordinances, 19878, entitled Gross Receipts Investment Policy.