51 New Mexico Business Stats & Facts For 2025

Here are 51 business stats about New Mexico for 2025.

Basics:

Population: 2,114,371 (US Census 2020)
Population desnity per square mile: 17.50
GDP: $130,202 (millions USD)
GDP Per Capita: $62,209
Median household income (in 2022 dollars): $58,722
Real GDP Growth Rate: 4.10%
Total Employment: 782.8k
Unemployment Rate: 3.6%

Rankings

% Share of National Economy: 0.47%
State Economic Growth Rank (out of 50): 37
Population Growth Rank (out of 50): 38
Business Growth Rank (out of 50): 44
State Growth Rank in Employment (out of 50): 7

Biggest Industries In New Mexico By Revenue

1. Oil Drilling & Gas Extraction: $26.1b
2. Hospitals: $8.7b
3. Public Schools: $8.3b
4. Health & Medical Insurance: $7.4b
5. New Car Dealers: $5.8b
6. Supermarkets & Grocery Stores: $4.5b
7. Scientific Research & Development: $4.4b
8. Gas Stations with Convenience Stores: $4.3b
9. Warehouse Clubs & Supercenters: $3.9b
10. Gasoline & Petroleum Wholesaling: $3.1b

Biggest Employers In New Mexico

1. State Of New Mexico: 31,100 (4.0%)
2. Honeywell International Inc.: 15,100 (1.9%)
3. Walmart Inc.: 14,457 (1.8%)
4. University Of New Mexico: 11,875 (1.5%)
5. Presbyterian Healthcare Services: 11,575 (1.5%)
6. Albuquerque Public Schools: 10,150 (1.3%)
7. City of Alburquerque: 5,800 (0.7%)
8. Mcdonald’s corporation: 4,675 (0.6%)
9. New Mexico State University: 3,800 (0.5%)
10. Lovelace Health System: 3,650 (0.5%)

Small Businesses In New Mexico

Number of Small Businesses 158,296
Percent of bossiness that are small businesses: 98.90%
Number of employees: 345,088
Share of Employment: 52.90%
Number of New Businesses In The Past Year: 7,270
Number of Businesses That Closed In The Past Year: 5,695
Net Change In New Businesses: 1,575

Number of Businesses With No Employees: 125,804
Number of Businesses with 1-19 Employees: 28,060
Number of Businesses with 20-499 Employees: 4,432
Share of Businesses Owned By Women: 47.10%
Share of Businesses Owned By Veterans: 7.60%
Share of Hispanic Owned Businesses: 34.00%
Share of Businesses Owned By Racial Minorities: 11.00%

Fortune 500 Companies In New Mexico

Number of Fortune 500 Headquaters: N/A
Biggest Company: N/A
Biggest Company Type: N/A
Number of Employees: N/A
Revenue (in millions): N/A

Taxes In New Mexico

State Corporate Tax Rate:

• 4.80%
• 5.90%

State Corporate Tax Rate Brackets:

• $0
• $500,000

State Sales Tax Rate: 4.88%
State Sales Tax Rank (out of 50): 34
Average Local Sales Tax Rate: 2.74%
Max Local Sales Tax Rate: 4.06%
Average Combined Sales Tax Rate: 7.62%
Combined Sales Tax Rank (out of 50): 17

Minimum State Income Tax Rate If You’re Single: 2.00%
Minimum State Income Tax Rate If You’re Married: 2.00%

General New Mexico Population Facts

In civilian labor force, total, percent of population age 16 years+: 56.80%
In civilian labor force, female, percent of population age 16 years+: 53.20%
Share of population which is foreign born: 9.20%
Mean travel time to work (minutes), workers age 16 years+: 23.1

Housing

Number of Housing Units: 965,399
Owner-occupied housing unit rate: 68.70%
Median value of owner-occupied housing units: $216,000
Median gross rent per month: $966
Households with a computer: 91.00%
Households with a broadband Internet subscription: 81.70%

Education

High school graduate or higher, percent of persons age 25 years+: 7.10%
Bachelor’s degree or higher, percent of persons age 25 years+: 29.10%

Also See

• New Mexico Registered Agent Services
• New Mexico Secretary of State Business Search
• How To Form an LLC In New Mexico
• New Mexico Bookkeepers & Bookkeeping Services

Sources

• https://en.wikipedia.org/wiki/List_of_U.S._states_and_territories_by_GDP
• https://en.wikipedia.org/wiki/Economy_of_New_Mexico
• https://www.ibisworld.com/united-states/economic-profiles/new-mexico/
• https://taxfoundation.org/data/all/state/2024-sales-taxes/
• https://taxfoundation.org/data/all/state/state-corporate-income-tax-rates-brackets-2024/
• https://taxfoundation.org/data/all/state/state-income-tax-rates-2024/
• https://advocacy.sba.gov/2023/11/14/2023-small-business-profiles-for-the-states-territories-and-nation/
• https://advocacy.sba.gov/wp-content/uploads/2023/11/2023-Small-Business-Economic-Profile-NM.pdf
• https://www.bls.gov/eag/
• https://www.bls.gov/regions/southwest/new_mexico.htm#eag
• https://www.census.gov/quickfacts/fact/table/NM,US/PST045223
• https://www.50pros.com/fortune500