New Mexico’s ranking in terms of economic and business competitiveness slipped in 2014, according to the annual Rich States, Poor States study by the American Legislative Exchange Council.
New Mexico’s ranking slipped to 37th place from 34th in 2013, according to the study, which ranks states in 15 areas, including top personal income rate and the number of public employees. The state’s ranking was the lowest in the seven-state region. Utah had the top spot in the U.S., the study said.
New Mexico scored well in the study in some areas and low in others. For instance, the state ranked first [the best possible score] in terms of inheritance taxes [none], and fifth in property tax burden. But the state drew a rank of 50 for not being a right-to-work state, was 49th in sales tax burden and 43rd for the number of public employees per 10,000 residents.
In 2008, the first year ALEC published the study, New Mexico ranked 27th in terms of economic competitiveness.
New York placed last on the list for 2014.
Here’s how New Mexico and surrounding states ranked:
- Utah: 1
- Arizona: 7
- Nevada: 8
- Texas: 13
- Oklahoma: 21
- Colorado: 22
- New Mexico : 37
By: Dennis Domrzalski (Albuquerque Business First)
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