Busakorn Pongparnit | Moment | Getty Images
New Mexico Score and Ranking
| CATEGORY | 2023 SCORE | 2023 RANK | 2022 RANK | 2023 GRADE |
|---|---|---|---|---|
| WORKFORCE | 211 | 27 | 25 | C |
| INFRASTRUCTURE | 145 | 45 | 39 | F |
| ECONOMY | 157 | 36 | 42 | D+ |
| LIFE, HEALTH & INCLUSION | 164 | 29 | 44 | C- |
| COST OF DOING BUSINESS | 157 | 24 | 29 | B- |
| TECHNOLOGY & INNOVATION | 140 | 27 | 43 | C |
| BUSINESS FRIENDLINESS | 59 | 44 | 44 | F |
| EDUCATION | 72 | 21 | 45 | B |
| ACCESS TO CAPITAL | 10 | 47 | 41 | F |
| COST OF LIVING | 25 | 26 | 11 | C+ |
| OVERALL | 1140 | 43 | 46 |
Economic Profile
Governor: Michelle Lujan Grisham, Democrat
Population: 2,113,344
GDP growth (Q1 2023): 2.80%
Unemployment rate (May 2023): 3.50%
Top corporate tax rate: 5.90%
Top individual income tax rate: 5.90%
Gasoline tax: 37.28 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 (including 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence
