41. Alabama

Residents here embrace the low cost of living, but education and health care strike sour notes.

Assembly team members assist in the chassis marriage of a 2011 Hyundai Sonata at the Hyundai Motor Manufacturing Alabama (HMMA) plant in Montgomery, Alabama.
Mark Elias | Bloomberg | Getty Images
Assembly team members assist in the chassis marriage of a 2011 Hyundai Sonata at the Hyundai Motor Manufacturing Alabama (HMMA) plant in Montgomery, Alabama.
Category
Score
2018 Rank
2017 Rank
Grade
Workforce 196 36 36 C-
Infrastructure 218 18 18 B-
Cost of Doing Business 179 26 7 (Tie) B-
Economy 128 37 26 D+
Quality of Life 87 48 50 F
Technology & Innovation 97 34 31 (Tie) D+
Education 53 47 47 F
Business Friendliness 63 36 33 (Tie) C-
Access to Capital 39 30 29 D+
Cost of Living 43 8 12 A-
Overall 1103 41 37 -

Economic Profile

Governor: Kay Ivey, Republican

Population: 4,874,747

GDP growth (Q4 2017): 2.8 percent

Unemployment rate (May 2018): 3.9 percent

Top corporate tax rate: 6.5 percent

Top individual income tax rate: 5 percent

Gasoline tax: 18 cents/gallon

Bond rating: (Moody's/S&P): Aa1, stable/AA, 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 (excluding 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence

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