43. New Mexico

Volatile oil prices weigh on the Land of Enchantment, and schools are poor. But infrastructure is a plus.

Thousands of people watch the launch of hundreds of balloons during the Mass Ascencion at the opening of the International Balloon Fiesta at Balloon Fiesta Park in Albuquerque, New Mexico. 
Keith Gillett | Icon Sportswire | Corbis | Getty Images
Thousands of people watch the launch of hundreds of balloons during the Mass Ascencion at the opening of the International Balloon Fiesta at Balloon Fiesta Park in Albuquerque, New Mexico. 
Category
Score
2018 Rank
2017 Rank
Grade
Workforce 208 34 32 C
Infrastructure 223 17 16 B-
Cost of Doing Business 188 24 19 B
Economy 90 46 44 D-
Quality of Life 113 41 42 (Tie) F
Technology & Innovation 83 37 27 D
Education 58 44 45 (Tie) F
Business Friendliness 44 42 45 D
Access to Capital 31 33 38 (Tie) D
Cost of Living 32 19 22 (Tie) B-
Overall 1070 43 42 -

Economic Profile

Governor: Susana Martinez, Republican

Population: 2,088,070

GDP growth (Q4 2017): 1.6 percent

Unemployment rate (May 2018): 5.1 percent

Top corporate tax rate: 5.9 percent

Top individual income tax rate: 4.9 percent

Gasoline tax: 18.88 cents/gallon

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

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