14. Tennessee

Businesses that choose the Volunteer State are rewarded with a stellar workforce and an excellent infrastructure. But a high crime rate and poor health care hurt quality of life.

2014 Rank
2013 Rank
Cost of Doing Business 303 13 14
Workforce 204 6 (Tie) 5
Quality of Life 63 50 49
Infrastructure & Transportation 245 4 2
Economy 248 14 9
Education 54 39 (Tie) 45
Technology & Innovation 135 28 25
Business Friendliness 134 18 18
Cost of Living 42 9 2
Access to Capital 9 33 (Tie) 27
Overall 1437 14 13

Economic Profile

Governor: Bill Haslam, Republican

Population: 6,495,978

GDP growth: 0.8 percent

Unemployment rate (May 2014): 6.3 percent

Top corporate tax rate: 6.5 percent

Top individual income tax rate: 6 percent on dividends and interest income

Gasoline tax: 40 cents/gallon

Bond rating/outlook: Aaa/stable

Major private employer: Covenant Health

Economic profile sources: Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, Bureau of Economic Analysis, Bureau of Labor Statistics, East Tenessee Economic Development Agency

Top States For Business

From the Governors

Latest Special Reports

  • Take an in-depth look at the world of modern medicine - examining the treatments, companies and people making a difference in the way we treat illness and injuries today, and laying the foundation for the medical treatments of tomorrow.

  • Financial advisors stress that now is the time for investors to get serious about year-end financial planning checkup.

  • Advisor-centric content with guest columns covering practice management, investment strategies and marketing/social media.