New Mexico is the 33rd Best State for Business 2012

No 33: New Mexico

No. 33

New Mexico

Taxation and Regulations
Workforce Quality
Living Environment

Based on CEO Survey by

Key Metrics
State GDP 

  • % Growth ’07-’10: 4.42
  • % Growth ’07-’10 v. Nat’l Avg. (-0.33%): 4.76


  • Unemployment Rate Dec. 2011 %: 6.60
  • Comparison with Nat’l Rate (8.50%): -1.90

Domestic Migration

  • Domestic Net Migration ’00-’09: 26,383
  • Rank: 24

State Government

  • Debt per Capita Fiscal Year ’10 ($): 4,261
  • State & Local Gov’t Employees per 10k Residents: 680.41

State-Local Tax Burden

  • Rate (%): 8.38
  • Compared to Nat’l Avg. (9.8%): -1.42
Key Companies
  • PNM Resources
  • First State Bancorporation
Development Trend Indicator: Neutral
Businesses would like to see more progress on regulatory morass.
CEO Comments
“New Mexico is making great strides of improvement under Gov. Susanna Martinez. With the new course Gov. Martinez has established, NM could establish a reasonable regulatory environment within a couple of years. Like most states, they have to get their environmental agency to become reasonable regulators instead of crusaders catering to environmental groups.”

Bureau of Economic Analysis
Bureau of Labor Statistics
The Tax Foundation

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