3. Minnesota

The North Star State points the way to great schools and excellent quality of life, but high costs cast a cloud.

George Kavallines | CNBC
Category
Score
2017 Rank
2016 Rank
Workforce 303 16 15
Infrastructure 211 10 5
Cost of Doing Business 147 36 35
Economy 234 6 17
Quality of Life 244 3 2
Technology & Innovation 170 5 9
Education 156 2 2
Business Friendliness 61 33 (Tie) 27 (Tie)
Access to Capital 69 16 21
Cost of Living 20 31 27
Overall 1615 3 4

Economic Profile

Governor: Mark Dayton, Democrat

Population: 5,519,952

GDP growth (Q4 2016): 1.7 percent

Unemployment rate (May 2017): 3.7 percent

Top corporate tax rate: 9.8 percent

Top individual income tax rate: 9.85 percent

Gasoline tax: 28.60 cents/gallon

Bond rating/outlook (Moody's, S&P): Aa1, AA+ stable

Major private employers: Mayo Clinic, UnitedHealth Group

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 (excluding 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence

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