Best Cities to Start a Business in New Mexico

Last updated: March 19th, 2024

New Mexico may not be one of the first to be mentioned in a discussion of the best states to start a business, but its quirky cities, striking desert landscapes, and unique amalgam of Mexican and Southwestern culture make it an excellent, overlooked destination for entrepreneurs.

Albuquerque, located in the foothills of the stunning Sandia Mountains, is home to a budding community of tech startups that has steadily increased in activity over the past five years. The city’s laidback vibe and low cost of living provide a nurturing environment for growing companies. What’s more, the University of New Mexico–a highly regarded research school—provides startups with a steady stream of young talent. With all of these positives, Albuquerque is definitely a city to watch.

To encourage business growth and development, the state government offers a number of tax incentives under certain conditions. New Mexico will even offer land, resources, and infrastructure to businesses in the interest of job creation.

NMRio RanchoSandoval
NMLas CrucesDona Ana
NMSanta FeSanta Fe

Only cities with over 50,000 inhabitants are reported in the results. Some data had to be interpolated to the county level and extrapolated to all the cities in the county. We concentrated on the following metrics to obtain our ranking: Cost of livingBest state for businessUnemploymentKauffman index, and Universities.

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