50. Rhode Island

The Ocean State is rich in history and quality of life. But a multi-year effort to reform business regulations has yet to take hold. The state’s infrastructure is troubled as well.

Category
Score
2014 Rank
2013 Rank
Cost of Doing Business 117 43 (Tie) 34
Workforce 124 38 42
Quality of Life 186 19 20
Infrastructure & Transportation 55 50 47
Economy 161 44 (Tie) 49
Education 91 18 23
Technology & Innovation 109 34 42
Business Friendliness 56 45 (Tie) 46
Cost of Living 9 42 44
Access to Capital 14 23 (Tie) 21
Overall 922 50 49

Economic Profile

Governor: Lincoln Chafee, Democrat

Population: 1,051,511

GDP growth: 1.4 percent

Unemployment rate (May 2014): 8.3 percent

Top corporate tax rate: 9 percent

Top individual income tax rate: 5.99 percent

Gasoline tax: 51 cents/gallon

Bond rating/outlook: Aa2/negative

Major private employer: Lifespan

Economic profile sources: Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, Bureau of Economic Analysis, Bureau of Labor Statistics, Rhode Island FY 2013 CAFR

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