×

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.

Category
Score
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

  • Top States 2016

    CNBC's annual study measures all 50 states on more than 60 different metrics.

  • People walk amongst aircraft exhibited on the tarmac during the opening of the International Paris Airshow at Le Bourget on June 15, 2015.

    The International Paris Air Show is celebrating its 52nd anniversary this year with the big movers and shakers in the aerospace and defense industry all attending the event.

  • International business and political leaders gather in Dalian, China for the 2017 instalment of the World Economic Forum’s Annual Meeting of the New Champions.