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New Mexico Score and Ranking
| CATEGORYÂ | 2021 SCOREÂ | 2022 RANK | 2021 RANKÂ | 2022 GRADEÂ |
|---|---|---|---|---|
| WORKFORCE | 220 | 25 | 13 | C+ |
| INFRASTRUCTURE | 165 | 39 | 47 | D |
| COST OF DOING BUSINESS | 183 | 29 | 11 | B |
| ECONOMY | 119 | 42 | 46 | F |
| LIFE, HEALTH & INCLUSION | 101 | 44 | 30 | F |
| TECHNOLOGY & INNOVATION | 87 | 43 | 30 | D- |
| BUSINESS FRIENDLINESS | 63 | 44 | 38 | F |
| EDUCATION | 61 | 45 | 48 | D |
| ACCESS TO CAPITAL | 16 | 41 | 31 | D- |
| COST OF LIVING | 40 | 11 | 7 | A |
| OVERALL | 1055 | 46 | 38 |
Economic Profile
Governor: Michelle Lujan Grisham, Democrat
Population: 2,115,877
GDP growth (Q1 2022): -4.7%
Unemployment rate (May 2022): 5.1%
Top corporate tax rate: 5.9%
Top individual income tax rate: 5.9%
Gasoline tax: 18.88 cents/gallon
Bond rating (Moody's/S&P): Aa2, stable/AA, stable
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
