22. Michigan

The Great Lakes State is a sea of innovation and an inexpensive place to live. But environment and crime hurt quality of life.

2015 Rank
2014 Rank
Workforce 222 25 15
Cost of Doing Business 220 17 (Tie) 31
Infrastructure 186 26 16
Economy 175 29 28
Quality of Life 77 48 45
Technology & Innovation 176 8 14
Education 102 25 34
Business Friendliness 51 36 32
Cost of Living 66 7 17
Access to Capital 47 4 23
Overall 1322 22 26

Economic Profile

Governor: Rick Snyder, Republican

Population: 9,909,877

GDP growth: 1.9 percent

Unemployment rate (May 2015): 5.5 percent

Top corporate tax rate: 6 percent

Top individual income tax rate: 4.25 percent

Gasoline tax: 51 cents/gallon

Bond rating/outlook: Aa2/positive

Major private employer: Ford Motor Co.

Economic profile sources: Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, Bureau of Economic Analysis, Bureau of Labor Statistics, Detroit Regional Chamber


Latest Special Reports

  • A logo sits on a sign at the World Economic Forum in Davos, Switzerland, on Thursday, Jan. 23, 2014.

    Coverage of the World Economic Forum’s annual meeting in Davos, Switzerland.

  • 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.

  • Fintech

    From Apple Pay to roboadvisors, the worlds of finance and technology are changing the way we live, work, spend money, and do business.