42. New Mexico

The once charmed economy in the Land of Enchantment has given way to despair over poor schools, red tape and cheap oil.

George Kavallines | CNBC
2017 Rank
2016 Rank
Workforce 252 32 42
Infrastructure 196 16 14 (Tie)
Cost of Doing Business 209 19 25
Economy 88 44 38
Quality of Life 107 42 (Tie) 36
Technology & Innovation 113 27 33
Education 59 45 (Tie) 34 (Tie)
Business Friendliness 32 45 43
Access to Capital 25 38 (Tie) 46 (Tie)
Cost of Living 29 22 (Tie) 25
Overall 1110 42 39

Economic Profile

Governor: Susana Martinez, Republican

Population: 2,081,015

GDP growth (Q4 2016): 1.3 percent

Unemployment rate (May 2017): 6.6 percent

Top corporate tax rate: 6.2 percent

Top individual income tax rate: 4.9 percent

Gasoline tax: 18.88 cents/gallon

Bond rating/outlook (Moody's, S&P): Aa1, AA negative

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 (excluding 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence

Latest Special Reports

  • Automation, AI and machine learning will radically influence the relationship between employers and their workforce.

  • Invest in You: Ready. Set. Grow. is focused on improving Americans’ money knowledge of saving, spending and investing.

  • Gavel and sound bock in front of hammer

    Silicon Valley’s meteoric rise left lawmakers playing catch up. Governments around the world are now busy implementing new rules and regulations, aiming to keep the tech titans in check but also foster a burgeoning digital economy. CNBC’s special report “Big Tech's New Rules” explores this trend, and what it means for investors, citizens and the technology companies themselves.