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

Top States for Business

From the Governors

Latest Special Reports

  • Piggybanks navigating a maze

    Americans continue to worry about persistent inflation, ongoing market volatility and the possibility of a recession. Many are working to manage the impact on their retirement and savings. The implications of all this economic uncertainty, as well as changes in tax laws, bring new considerations for individuals and especially those retirees planning for and managing future finances.

  • Between new federal tax bill changes and underutilized deductions, CNBC finds ways to save money while filing taxes.

  • Coverage of the World Economic Forum’s annual meeting in Davos, Switzerland.