49. West Virginia

The Mountain State has low business costs, but also a mountain of regulations and a persistent lack of innovation.

Category
Score
2015 Rank
2014 Rank
Workforce 163 44 (Tie) 44
Cost of Doing Business 245 7 18
Infrastructure 121 42 40
Economy 146 36 (Tie) 39
Quality of Life 108 40 39
Technology & Innovation 56 50 48
Education 91 34 28
Business Friendliness 15 48 (Tie) 50
Cost of Living 41 24 5
Access to Capital 8 45 49
Overall 994 49 48

Economic Profile

Governor: Earl Ray Tomblin, Democrat

Population: 1,850,326

GDP growth: 5.1 percent

Unemployment rate (May 2015): 7.2 percent

Top corporate tax rate: 6.5 percent

Top individual income tax rate: 6.5 percent

Gasoline tax: 53 cents/gallon

Bond rating/outlook: Aa1/stable

Major private employer: Wal-Mart, West Virginia United Health System

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

FULL LIST: 2015 TOP STATES FOR BUSINESS

Latest Special Reports

  • As the need for high-level financial advice grows, wealth managers handling high-net-worth clients grow more important.

  • CNBC Crypto World will feature the latest news and daily trading updates including analysis of major moves as well as breakouts on key innovations such as new currencies and the evolution of the digital wallet.

  • Advisors say it's time to get serious about year-end financial plans, like taxes and portfolio re-balancing.