34. Alabama

The Heart of Dixie offers a low cost of doing business and a very affordable cost of living. But poor health hurts the state’s quality of life, and the state ranks poorly in education.

Category
Score
2014 Rank
2013 Rank
Cost of Doing Business 342 4 (Tie) 6
Workforce 158 20 (Tie) 25
Quality of Life 79 46 45
Infrastructure & Transportation 203 21 (Tie) 27
Economy 169 40 40
Education 40 47 36
Technology & Innovation 117 31 34
Business Friendliness 62 38 37
Cost of Living 44 7 (Tie) 13
Access to Capital 3 45 (Tie) 39
Overall 1217 34 33

Economic Profile

Governor: Robert Bentley, Republican

Population: 4,833,722

GDP growth: 0.8 percent

Unemployment rate (May 2014): 6.9 percent

Top corporate tax rate: 6.5 percent

Top individual income tax rate: 5 percent

Gasoline tax: 39 cents/gallon

Bond rating/outlook: Aa1/stable

Major private employer: Regions Financial Corporation

Economic profile sources: Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, Bureau of Economic Analysis, Bureau of Labor Statistics, Regions Financial Corporation

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