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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

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