Companies continue to choose New Mexico because they understand that New Mexico offers more than just talent and innovation. New Mexico offers a strong value proposition to future employers. By offering low costs of living and reasonable labor costs, New Mexico makes it easy to succeed. The real question to ask yourself is: Can your business afford NOT to move here?
Despite the high-quality of our talent in New Mexico, the lack of intense competition, reasonable living costs, and an environment where people want to live has kept compensation costs approximately at, to significantly below, the national average. See below for some examples:
New Mexico consistently has lower compensation costs than the U.S. overall. Further, our costs are typically lower than regional competitions, many of whom are well above national averages.
The lack of intense competition for talent certainly is a key contributor to the low compensation costs shown on the prior pages. However, OUR LOW COST OF LIVING PLAYS AN IMPORTANT PART IN KEEPING EMPLOYMENT COSTS LOW. For example, the Albuquerque Metro, home to almost half the state’s population, is one of the most affordable major Metro Areas in the Western U.S., with a cost of living that is ~95% of the national average. This is typical of cost of living levels throughout the state.