17. Tennessee

The Volunteer State steps up with low cost of living and great infrastructure. But education and quality of life are poor.

Category
Score
2015 Rank
2014 Rank
Workforce 259 8 6
Cost of Doing Business 229 12 13
Infrastructure 237 3 4
Economy 161 31 (Tie) 14
Quality of Life 69 50 50
Technology & Innovation 121 27 28
Education 72 42 (Tie) 39
Business Friendliness 108 8 18
Cost of Living 74 2 9
Access to Capital 33 18 33
Overall 1363 17 14

Economic Profile

Governor: Bill Haslam, Republican

Population: 6,549,352

GDP growth: 1.7 percent

Unemployment rate (May 2015): 5.8 percent

Top corporate tax rate: 6.5 percent

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

Gasoline tax: 39 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

FULL LIST: 2015 TOP STATES FOR BUSINESS

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