1. Minnesota

The North Star State navigates to the top with superb education, a strong economy and great quality of life. But costs are high.

Category
Score
2015 Rank
2014 Rank
Workforce 241 13 30
Cost of Doing Business 152 35 38
Infrastructure 221 9 (Tie) 5
Economy 241 5 5
Quality of Life 268 3 4
Technology & Innovation 179 6 11
Education 150 2 12
Business Friendliness 75 23 15
Cost of Living 29 32 28
Access to Capital 28 23 11
Overall 1584 1 6

Economic Profile

Governor: Mark Dayton, Democrat

Population: 5,457,173

GDP growth: 1.4 percent

Unemployment rate (May 2015): 3.8 percent

Top corporate tax rate: 9.8 percent

Top individual income tax rate: 9.85 percent

Gasoline tax: 47 percent

Bond rating/outlook: Aa1/stable

Major private employer: Mayo Clinic

Economic profile sources: Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, Bureau of Economic Analysis, Bureau of Labor Statistics, Minnesota FY 2014 CAFR

FULL LIST: 2015 TOP STATES FOR BUSINESS

Latest Special Reports

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  • Piggybanks navigating a maze

    Americans are still shaken by the pandemic and the volatility of the markets. Many are working to manage the impact on their retirement and savings. The implications of the pandemic and economic volatility and changes in tax laws bring new considerations for individuals and especially those retirees planning for and managing future finances.

  • The Workforce Wire provides news and information on what employers and executives are doing to adapt to the ever-changing workplace.