The Land of Enchantment is low cost, but the schools and infrastructure make for a rude awakening.
New Mexico Score and Ranking
Category | 2021 Score | 2021 Rank | 2019 Rank | 2021 Grade |
---|---|---|---|---|
Cost of Doing Business | 254 | 11 | 26 | B+ |
Infrastructure | 146 | 47 | 24 | D |
Life, Health & Inclusion | 179 | 30 | -- | D+ |
Workforce | 205 | 13 | 21 | B- |
Economy | 83 | 46 | 27 | D- |
Business Friendliness | 80 | 38 | 44 | D+ |
Access to Capital | 71 | 31 | 35 | D+ |
Technology & Innovation | 84 | 30 | 37 | C |
Education | 44 | 48 | 45 | F |
Cost of Living | 66 | 7 | 15 | A |
Overall | 1212 | 38 | 41 |
Economic Profile
Governor: Michelle Lujan Grisham, Democrat
Population: 2,106,319
GDP growth (Q1 2021): 4.5%
Unemployment rate (May 2021): 8%
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
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