38. Alabama

In the Heart of Dixie, costs are low. But so are rankings in key areas, like economy and education.

Top States Alabama
Source: George Kavallines
Category
Score
2016 Rank
2015 Rank
Workforce 189 38 (Tie) 32 (Tie)
Cost of Doing Business 219 17 19
Infrastructure 192 21 (Tie) 31
Economy 107 48 44 (Tie)
Quality of Life 119 43 42
Technology & Innovation 93 36 30 (Tie)
Education 65 46 46
Business Friendliness 61 30 (Tie) 28 (Tie)
Cost of Living 71 4 10
Access to Capital 35 16 20
Overall 1151 38 41

Economic Profile

Governor: Robert Bentley, Republican

Population: 4,858,979

GDP growth: 1.6 percent

Unemployment rate (May 2016): 6.1 percent

Top corporate tax rate: 6.5 percent

Top individual income tax rate: 5 percent

Gasoline tax: 39.27 cents/gallon

Bond rating/outlook: Aa1, stable

Major private employers: Wal-Mart, Regions Bank, Vulcan Materials Company

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

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

  • Innovative female entrepreneur examining prototype

    In an era of rapid technological advances and demographic change, how do legacy companies adapt, innovate and evolve? CNBC Evolve features iconic global companies and executives who are embracing change and transforming for the future.

  • Frontline insights and unique views on key issues and challenges facing today’s CFOs.