11. Michigan (Tie)

The Wolverine State is fiercely devoted to technology and innovation. But high crime and poor health hurt its ranking.

A General Motors Chevrolet Camaro rolls off the production line at GM's Lansing Grand River Assembly Plant in Lansing, Michigan.
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A General Motors Chevrolet Camaro rolls off the production line at GM's Lansing Grand River Assembly Plant in Lansing, Michigan.
Category
Score
2018 Rank
2017 Rank
Grade
Workforce 278 10 13 A-
Infrastructure 218 18 19 B-
Cost of Doing Business 213 19 24 (Tie) B+
Economy 186 16 9 B
Quality of Life 136 33 33 D
Technology & Innovation 173 3 9 A+
Education 97 28 23 C
Business Friendliness 77 25 25 C
Access to Capital 71 15 17 B
Cost of Living 47 4 3 A+
Overall 1496 11 11 -

Economic Profile

Governor: Rick Snyder, Republican

Population: 9,962,311

GDP growth (Q4 2017): 2.4 percent

Unemployment rate (May 2018): 4.6 percent

Top corporate tax rate: 6.0 percent

Top individual income tax rate: 4.25 percent

Gasoline tax: 42.42 cents/gallon

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

Major private employers: Ford Motor Co., The Dow Chemical 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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