Albuquerque has one of the lowest costs of doing business, according to a ranking of mid-sized U.S. metro areas out this month from Business Facilities, a site selection marketplace for C-level executives and economic development organizations.

The city picked up the fifth spot, just behind Omaha, Nebraska, and ahead of Memphis, Tennessee.

Rankings are based on KPMG’s 2016 Competitive alternatives study, which looks at 26 key cost components in each market, including taxes, labor, facilities, transportation and utility costs.

"While it ranked third for total labor costs, Albuquerque’s costs are only 0.6 percent higher than first-placed Nashville for this factor. Albuquerque also ranked third for its effective corporate income tax rate," read the report.

The city also picked up honors in three other categories: quality of life, best cost of living and installed solar capacity per capita. Click here to read the full article.