New Mexico has the lowest cost of doing business of any state and that’s just for starters. Moody’s North American Business Cost Review & Economy.com studied all the factors before they named us #1 for the lowest cost of doing business. They looked at energy costs, worker compensation and taxes. Here’s what they found:
Low Energy Costs
New Mexico’s electricity and natural gas rates are below the national average and those of its neighboring competitor states. Electricity rates are substantially lower here than both the national and regional averages. According to the U.S. Department of Energy, our energy cost is 7% below the national and 19% below the regional average. In addition, New Mexico is one of the nation’s leading energy producers with a strong array of energy resources ranging from oil, natural gas and nuclear to solar, wind, thermal and biofuels.
Low Property Taxes
The state’s tax climate has improved immensely in recent years, as continued tax cuts and growing state revenues from natural resources have driven the overall tax burden in New Mexico to its lowest in 20 years. Today, we have the lowest property tax burden in the country, according to the Tax Foundation’s 2012 State Business Tax Climate Index, and property is assessed at only 33% of its market value.
Affordable Real Estate and Cost of Living121,589 square miles makes New Mexico the fifth largest state, and that helps keep the cost of real estate reasonably priced. Once we’ve identified your site requirements, we’ll find a selection that will work for you.
A Qualified, Productive WorkforceNew Mexico offers you a highly diverse, bilingual workforce. Our people are motivated, skilled and well educated. In fact, we have the highest number of
PhDs per capita in the country.
Efficient Market AccessNew Mexico is in close proximity to the five fastest growing states—Nevada, Arizona, Utah, Idaho and Texas. Three interstate freeways and a strong rail distribution system give you direct access to the West Coast, East Coast, Midwest, and the international borders of Canada and Mexico.
Growing Fiber NetworkThe 12,000 mile National
LambdaRail (
NLR) runs right through New Mexico, both north-south and east-west. Called the “network of networks,” it gives you access to the world at the speed of light. With no restrictions on usage or bandwidth,
NLR is a nationwide, advanced optical network infrastructure that can serve both the experimental needs of the high-tech and research