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America's Top States For Business 2013

#29 Michigan

Detroit, Michigan
Denis Jr. Tangney | E+ | Getty Images
Detroit, Michigan
Category
Score
2013 Rank
2012 Rank
Cost of Doing Business 196 33 29
Workforce 184 15 38
Quality of Life 103 43 34
Infrastructure & Transportation 197 25 25
Economy 218 26 28
Education 72 32 38
Technology & Innovation 202 12 12
Business Friendliness 80 32 34
Cost of Living 33 18 12
Access to Capital 14 23 21
Overall 1299 29 33

ECONOMIC PROFILE

Governor: Richard Snyder (R)

Population: 9,883,360

GDP growth: 2.2 percent

Unemployment rate (May 2013): 8.4 percent

Top corporate rate: 6 percent

Top individual tax rate: 4.25 percent of federal adjusted gross income with modificiation

Gasoline tax: 40.9 cents/gallon

Bond rating/outlook: Aa2/Positive

Major private employers: University of Michigan, Detroit Receiving Hospital, Blodgett Hospital, Beaumont Hospital, Delphi Thermal Systems, Henry Ford Health System,, Sparrow Health System, Pfizer Animal Health, Access Business Group, Amway Products, General Motors

Economic profile sources: American Petroleum Institute (April 2013), Bureau of Economic Analysis (2012), Bureau of Labor Statistics (May 2013 release), CareerOneStop, Moody's Investors Service (senior-most tax-backed ratings), National Governors Association, Tax Foundation (2013), U.S. Census Bureau (2012 estimate)

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  • Scott Cohn develops in-depth features, special reports and documentaries for CNBC and CNBC.com.

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