14. Tennessee

Businesses that choose the Volunteer State are rewarded with a stellar workforce and an excellent infrastructure. But a high crime rate and poor health care hurt quality of life.

Category
Score
2014 Rank
2013 Rank
Cost of Doing Business 303 13 14
Workforce 204 6 (Tie) 5
Quality of Life 63 50 49
Infrastructure & Transportation 245 4 2
Economy 248 14 9
Education 54 39 (Tie) 45
Technology & Innovation 135 28 25
Business Friendliness 134 18 18
Cost of Living 42 9 2
Access to Capital 9 33 (Tie) 27
Overall 1437 14 13

Economic Profile

Governor: Bill Haslam, Republican

Population: 6,495,978

GDP growth: 0.8 percent

Unemployment rate (May 2014): 6.3 percent

Top corporate tax rate: 6.5 percent

Top individual income tax rate: 6 percent on dividends and interest income

Gasoline tax: 40 cents/gallon

Bond rating/outlook: Aaa/stable

Major private employer: Covenant Health

Economic profile sources: Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, Bureau of Economic Analysis, Bureau of Labor Statistics, East Tenessee Economic Development Agency

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