39. New Mexico

The infrastructure is good, but the Land of Enchantment isn’t exactly running a solid offensive when it comes to regulation.

Top States New Mexico
Source: George Kavallines
2016 Rank
2015 Rank
Workforce 182 42 16 (Tie)
Cost of Doing Business 192 24 (Tie) 23
Infrastructure 206 14 (Tie) 5 (Tie)
Economy 149 38 24 (Tie)
Quality of Life 139 36 24
Technology & Innovation 103 33 38
Education 89 34 (Tie) 40 (Tie)
Business Friendliness 38 43 41
Cost of Living 39 25 13
Access to Capital 5 46 (Tie) 42
Overall 1142 39 24

Economic Profile

Governor: Susana Martinez, Republican

Population: 2,085,109

GDP growth: 0.7 percent

Unemployment rate (May 2016): 6.2 percent

Top corporate tax rate: 6.6 percent

Top individual income tax rate: 4.9 percent

Gasoline tax: 37.28 cents/gallon

Bond rating/outlook: Aaa, stable

Major private employers: Presbyterian Healthcare, PNM Resources

Economic profile sources: U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, S&P Global Market Intelligence

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