Categories: 2014 Best & Worst States

New Mexico is the 32nd Best State for Business 2013

Previous State: Missouri Next State: Alaska

No. 32New Mexico

Taxations & Regulations

Workforce Quality

Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP % Growth ’10-’11: 0.2 % Growth ’10-’11 v. Nat’l Avg. (1.5%): -1.3 Unemployment Unemployment Rate Dec. 2012 %: 6.6 Comparison with Nat’l Rate (7.80%): -1.2 Domestic Migration Domestic Net Migration ’10-’11: 2,202 Rank: 22 State Government Debt per Capita Fiscal Year ’10 ($): 4,261 State & Local Gov’t Employees per 10k Residents: 680.4 State-Local Tax Burden Rate (%): 12.8 Compared to Nat’l Avg. (9.9%): 2.90

Key Metrics

State GDP

% Growth ’10-’11: 0.2
% Growth ’10-’11 v. Nat’l Avg. (1.5%): -1.3

Unemployment

Unemployment Rate Dec. 2012 %: 6.6
Comparison with Nat’l Rate (7.80%): -1.2

Domestic Migration

Domestic Net Migration ’10-’11: 2,202
Rank: 22

State Government

Debt per Capita Fiscal Year ’10 ($): 4,261
State & Local Gov’t Employees per 10k Residents: 680.4

State-Local Tax Burden

Rate (%): 12.8
Compared to Nat’l Avg. (9.9%): 2.90

Key Companies
PNM Resources First State Bancorporation

Development Trend Indicator: Positive
Smiles at business by thwarting unions on bill regarding organizing drives.

CEO Comments
“New Mexico is by far the most business averse state I have ever done business in. They have a new pro-business Republican governor who is trying to make a positive change but whose efforts are suppressed by the overwhelmingly Democratic legislature who is owned by the unions and the Native Americans.” “New Mexico is our home state and they try but it just has not yet happened like in Florida, Nevada and Texas.” “New Mexico has a great work ethic and dedicated professional skill sets.”

CEO Comments

“New Mexico is by far the most business averse state I have ever done business in. They have a new pro-business Republican governor who is trying to make a positive change but whose efforts are suppressed by the overwhelmingly Democratic legislature who is owned by the unions and the Native Americans.”

“New Mexico is our home state and they try but it just has not yet happened like in Florida, Nevada and Texas.”

“New Mexico has a great work ethic and dedicated professional skill sets.”

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

Previous State: #31 Missouri Next State: #33 Alaska

J.P. Donlon

J.P. Donlon is Editor Emeritus of Chief Executive magazine.