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America's Top States For Business

#15 Minnesota

Joe Mamer | Fotostock | Getty Images
Category Score 2013 Rank 2012 Rank
Cost of Doing Business 165 39 25
Workforce 132 32 31
Quality of Life 242 3 5
Infrastructure & Transportation 223 8 2
Economy 253 10 16
Education 80 23 11
Technology & Innovation 180 18 18
Business Friendliness 139 15 23
Cost of Living 17 34 35
Access to Capital 17 17 15
Overall 1448 15 11

ECONOMIC PROFILE

Governor: Mark Dayton (D)

Population: 5,379,139

GDP growth: 3.5 percent

Unemployment rate (May 2013): 5.3 percent

Top corporate rate: 9.8 percent

Top individual tax rate: 7.85 percent

Gasoline tax: 28.6 cents/gallon

Bond rating/outlook: Aa1/Negative

Major private employers: University of Minnesota, 3M Co., Hennepin County Medical Center, Park Nicollet Methodist Hospital, University of Minnesota Medical Center, Thomson Reuters, Ameriprise Financial, Methodist Hospital Sleep Disorder Center, Essentia Health, Best Buy Co. Inc.

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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  • CNBC's senior correspondent and lead investigative reporter, Scott Cohn also appears on "NBC Nightly News with Brian Williams," the "Today" and on MSNBC.

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