New Mexico is toward the top of the bottom 18 states when it comes to entrepreneurial activity, accord to the Kauffman Index of Entrepreneurial Activity, 2007. (See http://www.kauffman.org/pdf/KIEA_041408.pdf). The bottom 18 have from eight (that's West Virginia) to 26.2 entrepreneurs per 100,000 people. New Mexico has 25. One might be tempted to put a nice face on this rank, saying, we're sort of in the middle, except for one thing. Seven of the 16 states in the top entrepreneurial group are among the 11 western states. Another, Oklahoma, borders New Mexico.
The other three Four Corners states out-perform New Mexico economically. Entrepreneurship looks to be one more reason.
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