| #21 Tennessee |
Previous: #20 Oregon | Next: #22 Nebraska |

| Category | Score | 2008 Rank | 2007 Rank |
| Cost of Doing Business | 291 |
13 | 12 |
| Workforce | 247 | 5 | 12 |
| Economy | 88 | 37 | 31 |
| Education | 83 | 42 | 39 |
| Quality of Life | 52 | 43 | 45 |
| Technology & Innovation | 74 | 25 | 25 |
| Transportation | 72 | 7 | 4 |
| Cost of Living | 50 | 1 | 5 |
| Business Friendliness | 39 | 9 | 2 |
| Access to Capital | 22 | 29 | 23 |
| OVERALL | 1018 | 21 | 17 |