2014 Best & Worst States

New Mexico Is 30th Best State for Business 2014

J.P. Donlon

May 8, 2014

Previous State: Arkansas Next State: Montana

No. 30 New Mexico

Taxations & Regulations

Workforce Quality

Living Environment

Key Metrics
State GDP % Growth ’12-’13: 1.5 % Growth ’11-’12 v. Nat’l Avg. (2.5%): -2.3 Unemployment Unemployment Rate Dec. 2013 %: 6.4 Comparison with Nat’l Rate (6.70%): -0.3 Domestic Migration Domestic Net Migration 2013: -10,526 Rank: 41 State Government State Debt per Capita Fiscal Year ’13 ($): 3,525 State & Local Gov’t Employees per 10k Residents: 680.4 State-Local Tax Burden Rate (%): 8.4% Compared to Nat’l Avg. (9.9%): -1.42%

Key Metrics

State GDP

% Growth ’12-’13: 1.5
% Growth ’11-’12 v. Nat’l Avg. (2.5%): -2.3

Unemployment

Unemployment Rate Dec. 2013 %: 6.4
Comparison with Nat’l Rate (6.70%): -0.3

Domestic Migration

Domestic Net Migration 2013: -10,526
Rank: 41

State Government

State Debt per Capita Fiscal Year ’13 ($): 3,525
State & Local Gov’t Employees per 10k Residents: 680.4

State-Local Tax Burden

Rate (%): 8.4%
Compared to Nat’l Avg. (9.9%): -1.42%

Key Companies
PNM Resources First State Bancorporation

Development Trend Indicator: Positive
Enacts huge cut in corporate income-tax rate as attractiveness brightens.

Based on CEO Survey by ChiefExecutive.net

Sources:
Bureau of Economic Analysis
Bureau of Labor Statistics
NewGeography.com
The Tax Foundation

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New Mexico Is 30th Best State for Business 2014

No. 30 New Mexico

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