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5. North Carolina

The Tar Heel State is controversially grinding down diversity. Businesses willing to overlook that will find plenty of workers and capital.

Top States North Carolina
Source: George Kavallines
Category
Score
2016 Rank
2015 Rank
Workforce 263 9 16 (Tie)
Cost of Doing Business 214 18 17 (Tie)
Infrastructure 180 30 23 (Tie)
Economy 229 11 6
Quality of Life 161 30 33 (Tie)
Technology & Innovation 185 7 10
Education 100 28 30
Business Friendliness 91 15 (Tie) 17
Cost of Living 50 18 23
Access to Capital 49 2 (Tie) 1 (Tie)
Overall 1522 5 9

Economic Profile

Governor: Pat McCrory, Republican

Population: 10,042,802

GDP growth: 2.7 percent

Unemployment rate (May 2016): 5.1 percent

Top corporate tax rate: 4 percent

Top individual income tax rate: 5.75

Gasoline tax: 53.65 cents/gallon

Bond rating/outlook: Aaa, stable

Major private employers: Wal-Mart, Bank of America

Economic profile sources: U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, S&P Global Market Intelligence

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