43. New Jersey

The Garden State cultivates young minds with one of the best education systems in the country. But it is an expensive state with a lagging economy.

Category
Score
2014 Rank
2013 Rank
Cost of Doing Business 117 43 (Tie) 42
Workforce 156 23 21
Quality of Life 192 18 23
Infrastructure & Transportation 95 47 43
Economy 138 47 48
Education 118 4 1
Technology & Innovation 218 15 15
Business Friendliness 63 37 41
Cost of Living 7 44 46
Access to Capital 20 11 (Tie) 9
Overall 1124 43 42

Economic Profile

Governor: Chris Christie, Republican

Population: 8,899,339

GDP growth: 1.1 percent

Unemployment rate (May 2014): 6.9 percent

Top corporate tax rate: 9 percent

Top individual income tax rate: 8.97 percent

Gasoline tax: 33 cents/gallon

Bond rating/outlook: Aa3/negative

Major private employer: Wakefern Food Corporation

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

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