As if we needed any further evidence of New Mexico’s economic woes since the Great Recession, new data from the Pew Center on the States provides state data on per-capita personal income growth by state both annually since 2007 and within the past year.
The blue line shows annual growth rates since 2007. New Mexico is within shouting distance of Arizona, but is getting pummeled by its neighbors over the long-term.
And, while Texas has lagged the region somewhat over the past year, New Mexico’s growth rate has been nearly non-existent over the same time period.
Will the 2018 legislative session in Santa Fe result in ANY significant changes? Absent serious tax reform we not optimistic that New Mexico will outperform its neighbors anytime soon.