43. Connecticut

High costs and poor infrastructure hinder the Nutmeg State, but it scores high in innovation and quality of life.

Top States Connecticut
Source: George Kavallines
2016 Rank
2015 Rank
Workforce 232 18 4
Cost of Doing Business 88 47 47
Infrastructure 114 47 46
Economy 121 43 26 (Tie)
Quality of Life 185 25 11
Technology & Innovation 146 19 (Tie) 19
Education 116 18 11
Business Friendliness 64 29 32 (Tie)
Cost of Living 8 46 49
Access to Capital 26 25 30
Overall 1100 43 33

Economic Profile

Governor: Dan Malloy, Democrat

Population: 3,590,886

GDP growth: 0.6 percent

Unemployment rate (May 2016): 5.7 percent

Top corporate tax rate: 7.5 percent

Top individual income tax rate: 6.99 percent

Gasoline tax: 56.26 cents/gallon

Bond rating/outlook: Aa3, negative

Major private employers: United Technologies Corp., General Electric 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

Top States Past Year Rankings

  • CNBC unveils its 11th annual America's Top States for Business ranking for 2017, scoring all 50 states on 10 key measures of competitiveness.

  • Top States promos Arm Wrestling

    CNBC unveils its 10th annual America's Top States for Business ranking, scoring all 50 states on 10 key measures of competitiveness.

  • Top States 2015

    CNBC unveils its 9th annual America's Top States for Business. See where your state ranks.

Latest Special Reports

  • senior couple on beach

    A fixed-income strategy is key for investors who are retired or are approaching retirement. This special report details the range of tools and strategies used to manage a fixed income portfolio.

  • The latest CNBC Fed Survey.

  • A look at 50 private companies set to reshape the business landscape.