36. Mississippi

The Magnolia State offers very low business costs, including the lowest wages in the nation. But a plaintiff-friendly legal system has kept many businesses away.

Category
Score
2014 Rank
2013 Rank
Cost of Doing Business 342 4 (Tie) 3
Workforce 170 17 18
Quality of Life 112 38 37
Infrastructure & Transportation 180 31 (Tie) 36
Economy 223 26 (Tie) 47
Education 36 48 47
Technology & Innovation 51 47 44
Business Friendliness 21 49 49
Cost of Living 45 6 10
Access to Capital 10 31 (Tie) 39
Overall 1190 36 41

Economic Profile

Governor: Phil Bryant, Republican

Population: 2,991,207

GDP growth: 1.6 percent

Unemployment rate (May 2014): 7.5 percent

Top corporate tax rate: 5 percent

Top individual income tax rate: 5 percent

Gasoline tax: 37 cents/gallon

Bond rating/outlook: Aa2/stable

Major private employer: Huntington Ingalls

Economic profile sources: Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, Bureau of Economic Analysis, Bureau of Labor Statistics, Harrison County Development Commission

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

From the Governors

Latest Special Reports

  • Financial advisors stress that now is the time for investors to get serious about year-end financial planning checkup.

  • Is an active twist on passive investing the right portfolio move? An inside look at the rise of ETF strategists.

  • The nexus of technology -- cloud, social, mobile and data -- are transforming user behaviors and creating new businesses.