33. Pennsylvania

Innovation is a cornerstone of the Keystone State’s business climate, but the economy isn’t holding up its end of the deal.

Top States Pennsylvania
Source: George Kavallines
Category
Score
2016 Rank
2015 Rank
Cost of Doing Business 198 33 40
Workforce 156 34 33
Infrastructure 162 35 35 (Tie)
Economy 124 42 46
Quality of Life 163 29 36 (Tie)
Technology & Innovation 171 12 11 (Tie)
Education 110 21 (Tie) 16 (Tie)
Business Friendliness 59 35 35
Cost of Living 24 35 34
Access to Capital 39 12 11
Overall 1206 33 40

Economic Profile

Governor: Tom Wolf, Democrat

Population: 12,802,503

GDP growth: 1.7 percent

Unemployment rate (May 2016): 5.5 percent

Top corporate tax rate: 9.99 percent

Top individual income tax rate: 3.07 percent

Gasoline tax: 68.70 cents/gallon

Bond rating/outlook: Aa3, negative

Major private employers: Knouse Foods Cooperative, Comcast

Economic profile sources: U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, S&P Global Market Intelligence

Latest Special Reports

  • working together

    CNBC Upstart 100 is a new original list of the bright young startups poised to become the great companies of tomorrow.

  • Financial advisors stress that now is the time for investors to get serious about year-end financial planning checkup.

  • The Edge explores the limitless potential of innovation.