State Resources


New Mexico Business Resources

Because of its location on the Mexican border, along with a high population of Hispanics and Native Americans, New Mexico has a truly distinct culture. Vast expanses of arid land dotted with sparse vegetation create a unique landscape. With only 0.19% of New Mexico’s land covered by water, it has the lowest proportion of water area of any state. New Mexico is home to three Air Force bases, a missile testing range, an army proving ground, and the city most famous for claimed UFO sightings, Roswell.

The government is the largest employer in the state, due to the numerous military instillations, and construction, tourism, and manufacturing contribute significantly to the economy. Oil and gas extraction has increased over 500% in the past decade, making it one of the fastest growing industries in the state. Virgin Galactic, the world’s first private space tourism company, is also based in New Mexico.

Business Data

Per Capita Real GDP$31,986 Rank: 40/50 (2006)
Population1,819,050 Rank: 36/50 (2000)
Per Capita Personal Income$29,673 Rank: 44/50 (2006)
Unemployment Rate3.10% Rank: 6/50 (2008)
Business Tax Climate IndexRank: 23/50 (2008)
Corporate Tax Rate4.8% - 7.6%
Individual Tax Rate 1.7% - 4.9%
Sales Tax Rate 5%

Business Tax Climate Index

Individual Income Tax Index Rank17
Sales Tax Index Rank41
Unemployment Insurance Tax Index Rank13
Property Tax Index Rank1
Business Tax Climate Index23
Corporate Tax Index Rank36

State Information

AbbreviationNM
CapitalSanta Fe
Nick NameThe Land of Enchantment
State Web Sitehttp://www.newmexico.gov
MottoIt grows as it goes

Top 5 Export Partner Countries

China, Malaysia, Philippines, Mexico, Canada

Top 5 Export Merchandise

Transportation Equipment Sales Chemicals Sales Electrical Equipment Manufacturing Chemicals Manufacturing Machinery Manufacturing

Major Cities

Albuquerque, Las Cruces, Santa Fe

GDP

Total Gross Domestic Product (USD Millions) $76,178.00 (2007)
Per Capita Real GDP (USD)$30,943.00 Rank: 41 (2007)

Population Stats

Population 1,984,356 Rank: 36 (2008)

Age Distribution

Under 18 Population508,574
Under 18 Percent of Total Population28%
65 and older Population212,225
65 and older Percent of Total Population12%

Gender Distribution

Male Population49.2%
Female Population50.8%
Non-English Speaker (at home)498,746
Net International Immigration27,974
Birth Rate14.9%
Percent of People Under Poverty Level18.5%
Rank3

Expenditure

Per Capita State Spending$116,056
Rank11
Energy Expenditures per Person$3,730
Expenditures of State and Local Government Employee-Retirement Systems$997,105

Revenue

Personal Income$36,189
Rank44
State Internal Revenue Collection$8,346,154
Rank41
Cash and Deposits by State Government$892,843
Per Capita State Tax Collection$2,649
Rank13

Education

High School Graduation Rate61.8%
Rank43
Percent of Population with a Bachelor's Degree14.3%
Rank41
Percent of Population with an Advanced Degree10.6%
Rank14

Largest Universities

New Mexico State University, Las Cruces University of New Mexico, Albuquerque Eastern New Mexico University
High School Graduation Rate61.8%

Logistics

Public Road Length (Mile)63,796
Gas Tax Rate (%)18.88%
Highway Planning and Construction (USD Thousands)314,681
Number of Public Airports58

Main Airports

ABQ: Albuquerque

Ports

Weather


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State Business Links

The Albuquerque Journal
http://www.abqjournal.com

Secretary of State

New Mexico Secretary of State
http://www.sos.state.nm.us
Welcome to the New Mexico Secretary of State website! Our website is designed to provide you with current information related to elections, campaign finance

Small Business Administration

New Mexico Small Business Administration
http://www.sba.gov/localresources/district/nm/index.html
The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. Small business is critical to our economic recovery, to building America's future, and to helping the United States compete in today's global marketplace. Through its extensive network of field offices and partnerships with other public and private organizations, SBA is able to deliver its services to the most remote areas of the U.S.

Top 10 Business Links

Albuquerque Economic Development (AED)
http://www.abq.org/
AED is a non-profit organization that is dedicated to creating job opportunities in the Albuquerque metro area. Its website provides regional information that includes history, demographics, utilities, major industries and an extensive list containing information on the chamber of commerce, government, education, and various associations.
New Mexico Economic Development Department
http://www.edd.state.nm.us/
The department is a state-run agency that is charged with fostering economic development in New Mexico. It offers various avenues of business assistance that includes financial aid, local and international expansion, workforce training, ISO-9000 certification, business incubators, and a data center for census information and maps.
New Mexico International Business Accelerator (IBA)
http://www.nmiba.com/
The IBA exists to provide assistance to businesses that are looking to establish themselves in international markets. The site offers counseling, import/export information, global financing, workshops, and contains databases of international trade leads, statistics, and other helpful resources.
New Mexico Small Business Development Center (NMSBDC) at Santa Fe Community College (SFCC)
http://www.nmsbdc.org/
The NMSBDC is dedicated to assisting current and potential small business ventures in the state. Aside from the lead center in Santa Fe, it also runs 19 satellites to provide easy access for local communities. Providing free business assistance in international trade, marketing, bookkeeping, and hosts a lists of state and national resources for SMBs.
Santa Fe U.S. Export Assistance Center
http://www.buyusa.gov/newmexico/
This branch of the Department of Commerce serves New Mexico and specializes in helping small to medium sized companies develop and execute exporting strategies. Fees vary and are based on the service being provided.
Small Business Institute (SBI)
http://nmnow.mgt.unm.edu/sbi/
The institute is a part of the University of New Mexico that offers assistance to businesses in the Albuquerque area. It works with about 25 different businesses each semester, and offers free consultations on matters such as business plan development, strategic management, and non-profit management. Interested parties can apply on their website.
UNM Bureau of Business and Economic Research (BBER)
http://bber.unm.edu/
The BBER is a research arm of the University of New Mexico that focuses much of its work on the state. It maintains a data library that contains census and economic information along with publishing the New Mexico Business - Current Economic Report monthly, and hosting several business events.

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Business Resources
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