34. New Jersey

Great education in the Garden State is nurturing the next generation of workers, but regulations need some pruning.

Top States New Jersey
Source: George Kavallines
Category
Score
2016 Rank
2015 Rank
Workforce 236 16 (Tie) 5
Cost of Doing Business 114 42 43
Infrastructure 125 44 (Tie) 48
Economy 152 36 40
Quality of Life 198 19 13 (Tie)
Technology & Innovation 148 17 (Tie) 18
Education 134 6 5
Business Friendliness 31 44 47
Cost of Living 15 41 45
Access to Capital 46 5 8 (Tie)
Overall 1199 34 39

Economic Profile

Governor: Chris Christie, Republican

Population: 8,958,013

GDP growth: 1.8 percent

Unemployment rate (May 2016): 4.9 percent

Top corporate tax rate: 9 percent

Top individual income tax rate: 8.97

Gasoline tax: 32.90 cents/gallon

Bond rating/outlook: A2, negative

Major private employers: Wakefern Food Corporation, Johnson & Johnson

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

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  • Coverage of the World Economic Forum’s annual meeting in Davos, Switzerland.

  • To turn the page on structural racism, communities are Changing The Narrative. In this series, CNBC explores the central themes of racial healing through stories addressing implicit bias in economic data, the major obstacles to racial equity at work, how fiscal investment can change the narrative on minority entrepreneurship and the ramifications of the great resignation in the Black community.