Special Reports

38. New Mexico

The Land of Enchantment is low cost, but the schools and infrastructure make for a rude awakening.

Economic Profile

Governor: Michelle Lujan Grisham, Democrat

Population: 2,106,319

GDP growth (Q1 2021): 4.5%

Unemployment rate (May 2021): 8%

Top corporate tax rate: 5.9%

Top individual income tax rate: 5.9%

Gasoline tax: 18.88 cents/gallon

Bond rating (Moody's/S&P): Aa2, stable/AA, stable

Major private employers: Presbyterian Healthcare, PNM Resources

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 (excluding 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence

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