Categories: Best & Worst States for Business

New Mexico is the 33rd Best State for Business 2012

No. 33

New Mexico

Taxation and Regulations

Workforce Quality

Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP % Growth ’07-’10: 4.42 % Growth ’07-’10 v. Nat’l Avg. (-0.33%): 4.76 Unemployment 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 Metrics

State GDP

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

Unemployment

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.”

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

Chief Executive

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