26. Michigan

The Great Lakes State has made solid improvements as its industries have recovered. The state is re-emerging as a leader in innovation, and offers a quality workforce.

Category
Score
2014 Rank
2013 Rank
Cost of Doing Business 215 31 33
Workforce 176 15 15
Quality of Life 82 45 43
Infrastructure & Transportation 207 16 25
Economy 213 28 26
Education 65 34 32
Technology & Innovation 219 14 12
Business Friendliness 83 32 32
Cost of Living 34 17 18
Access to Capital 14 23 (Tie) 23
Overall 1308 26 29

Economic Profile

Governor: Rick Snyder, Republican

Population: 9,895,622

GDP growth: 2.0 percent

Unemployment rate (May 2014): 7.4 percent

Top corporate tax rate: 6 percent

Top individual income tax rate: 4.25 percent

Gasoline tax: 60 cents/gallon

Bond rating/outlook: Aa2/positive

Major private employer: Spectrum Health Systems

Economic profile sources: Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, Bureau of Economic Analysis, Bureau of Labor Statistics, Crain's Detroit Business

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.