41. New Mexico

Low cost of living can be enchanting, but onerous regulation and poor quality of life will yank you back to reality.

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2019 Rank
2018 Rank
Workforce 250 21 34 C
Economy 211 27 46 B-
Infrastructure 183 24 17 B-
Cost of Doing Business 196 26 24 B
Quality of Life 101 44 41 F
Education 56 45 44 F
Technology & Innovation 64 37 37 D
Business Friendliness 44 44 42 D-
Access to Capital 23 35 33 D
Cost of Living 36 15 19 B+
Overall 1164 41 43 -

Economic Profile

Governor: Michelle Lujan Grisham, Democrat

Population: 2,095,428

GDP growth (Q4 2018): 4.1%

Unemployment rate (May 2019): 5%

Top corporate tax rate: 5.9%

Top individual income tax rate: 4.9%

Gasoline tax: 18.88 cents/gallon

Bond rating (Moody's/S&P): Aa2, stable/AA, 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 (excluding 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence

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