24. New Mexico (Tie)

The Land of Enchantment is blessed with a strong infrastructure. But lack of business capital can be a curse.

Category
Score
2015 Rank
2014 Rank
Workforce 237 16 (Tie) 30
Cost of Doing Business 197 23 17
Infrastructure 226 5 (Tie) 15
Economy 184 24 (Tie) 43
Quality of Life 186 24 33
Technology & Innovation 93 38 32
Education 77 40 (Tie) 36
Business Friendliness 45 41 47
Cost of Living 57 13 26
Access to Capital 9 42 23
Overall 1311 24 (Tie) 37

Economic Profile

Governor: Susana Martinez, Republican

Population: 2,085,572

GDP growth: 1.0 percent

Unemployment rate (May 2015): 6.2 percent

Top corporate tax rate: 6.9 percent

Top individual income tax rate: 4.9 percent

Gasoline tax: 37 cents/gallon

Bond rating/outlook: Aaa/stable

Major private employer: Presbyterian Healthcare

Economic profile sources: Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, Bureau of Economic Analysis, Bureau of Labor Statistics, New Mexico FY 2013 CAFR

FULL LIST: 2015 TOP STATES FOR BUSINESS

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