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CNBC: New Mexico is 24th best state for doing business

CNBC’s annual ranking of the top states for doing business showed New Mexico some love this year.

The state jumped from No. 37 in 2014 to No. 24 this year.

Meanwhile, several of our neighbors continued to lead the nation: Texas, Utah and Colorado came in at Nos. 2, 3 and 4, respectively. Arizona was listed in the 34th spot.

Minnesota was ranked No. 1, and Hawaii was 50th.

CNBC’s ranking is based on 60 measures of competiveness using metrics from official government sources, the CNBC Global CFO Council and the states themselves. The data are grouped in 10 broad categories and weighted based on how frequently the states use each as selling points in their marketing materials.

New Mexico was ranked particularly high (fifth) for infrastructure; 16th for workforce and 13th for cost of living. We fared poorly on education (40th) and for business friendliness (41st).

States were also ranked on the cost of doing business, economic strength, quality of life, technology and innovation and access to capital.

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