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New Mexico Score and Ranking
| CATEGORY | 2024 SCORE | 2024 RANK | 2023 RANK | 2024 GRADE |
|---|---|---|---|---|
| INFRASTRUCTURE | 179 | 39 | 45 | D+ |
| WORKFORCE | 193 | 30 | 27 | D |
| ECONOMY | 178 | 27 | 36 | C- |
| QUALITY OF LIFE | 137 | 35 | 29 | D |
| COST OF DOING BUSINESS | 168 | 20 | 24 | B |
| TECHNOLOGY & INNOVATION | 90 | 39 | 27 | D- |
| BUSINESS FRIENDLINESS | 83 | 44 | 44 | D |
| EDUCATION | 60 | 28 | 21 | B- |
| ACCESS TO CAPITAL | 30 | 32 | 47 | D+ |
| COST OF LIVING | 25 | 27 | 26 | C+ |
| OVERALL | 1143 | 43 | 43 |
Economic Profile
Governor: Michelle Lujan Grisham, Democrat
Population: 2,114,371
GDP growth (Q1 2024): 2.6%
Unemployment rate (May 2024): 3.8%
Top corporate tax rate: 5.9%
Top individual income tax rate: 5.9%
Gasoline tax: 37.28 cents/gallon
Bond rating (Moody's/S&P): Aa2, Stable/AA, Stable
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 (including 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence
