40. Pennsylvania

Innovation is key in the Keystone State, which is attracting outside investment. But economic growth remains somewhat sluggish.

Category
Score
2015 Rank
2014 Rank
Cost of Doing Business 193 40 48
Workforce 158 33 42
Infrastructure 159 35 (Tie) 37
Economy 116 46 37
Quality of Life 124 36 (Tie) 35
Technology & Innovation 172 11 (Tie) 8
Education 118 16 (Tie) 6
Business Friendliness 52 35 39
Cost of Living 26 34 35
Access to Capital 40 11 17
Overall 1158 40 44

Economic Profile

Governor: Tom Wolf, Democrat

Population: 12,787,209

GDP growth: 1.8 percent

Unemployment rate (May 2015): 5.4 percent

Top corporate tax rate: 9.99 percent

Top individual income tax rate: 3.07 percent

Gasoline tax: 70 cents/gallon

Bond rating/outlook: A1/stable

Major private employer: Knouse Foods Cooperative, Inc.

Economic profile sources: Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, Bureau of Economic Analysis, Bureau of Labor Statistics, Pennsylvania Dept. of Labor and Industry

FULL LIST: 2015 TOP STATES FOR BUSINESS

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