Best States for Business 2019
New Mexico
gross state product
$105B
population
2.1M
median household income
$47,723
cost of doing business
2% above nat'l avg
college attainment
27.1%
net migration
-2,100 (year: 2018)
unemployment
4.9%
moody`s bond rating
Aa2
governor
Michelle Lujan Grisham
Oil and gas production, tourism and the federal government drive New Mexico’s economy. Federal technology labs, Los Alamos National Laboratory and Sandia National Laboratories, are two of the largest employers in the state. New Mexico ranks in the bottom six overall for a seventh straight year due in part to a weak labor supply. Income and job growth have been anemic over the past five years. The state also fares poorly on quality of life metrics, a product of comparatively low school test scores and high crime.
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