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45. Maine (Tie)

Quality of life is high in the Pine Tree State, but the poor workforce and infrastructure are negatives for business.

A freshly cooked lobster from a pot in Portland, Maine.
Justin Sullivan | Getty Images
A freshly cooked lobster from a pot in Portland, Maine.
Category
Score
2018 Rank
2017 Rank
Grade
Workforce 108 50 50 F
Infrastructure 140 48 48 D-
Cost of Doing Business 177 27 32 (Tie) B-
Economy 110 43 38 D+
Quality of Life 195 15 7 B-
Technology & Innovation 76 38 41 (Tie) D-
Education 111 22 20 (Tie) C+
Business Friendliness 67 34 36 C-
Access to Capital 39 30 40 D+
Cost of Living 13 38 38 D-
Overall 1036 45 46 -

Economic Profile

Governor: Paul LePage, Republican

Population: 1,335,907

GDP growth (Q4 2017): 2.6 percent

Unemployment rate (May 2018): 2.8 percent

Top corporate tax rate: 8.93 percent

Top individual income tax rate: 7.15 percent

Gasoline tax: 30.01 cents/gallon

Bond rating (Moody's/S&P): Aa2, stable/AA, stable

Major private employers: Hannaford Brothers Co., Avangrid

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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