6. Minnesota

The North Star State has world-class education and great quality of life. But costs can be high.

A research technician prepares human cell samples for vaccine studies in the vaccine research laboratory at the Mayo Clinic medical center in Rochester, Minnesota.
Ariana Lindquist | Bloomberg | Getty Images
A research technician prepares human cell samples for vaccine studies in the vaccine research laboratory at the Mayo Clinic medical center in Rochester, Minnesota.
Category
Score
2018 Rank
2017 Rank
Grade
Workforce 253 16 16 B+
Infrastructure 255 6 10 A-
Cost of Doing Business 131 38 36 D+
Economy 180 18 6 B-
Quality of Life 252 3 3 A+
Technology & Innovation 167 5 5 A
Education 148 5 2 A-
Business Friendliness 72 28 33 (Tie) C
Access to Capital 68 17 16 B-
Cost of Living 22 29 31 C-
Overall 1548 6 3 -

Economic Profile

Governor: Mark Dayton, Democrat

Population: 5,576,606

GDP growth (Q4 2017): 1.5 percent

Unemployment rate (May 2018): 3.1 percent

Top corporate tax rate: 9.8 percent

Top individual income tax rate: 9.85 percent

Gasoline tax: 28.60 cents/gallon

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

Top States Past Year Rankings

  • Computer network of United States of America.

    CNBC unveils its 15th annual America's Top States for Business ranking, scoring all 50 states on 88 measures of competitiveness across 10 broad categories.

  • CNBC unveils its 14th annual America's Top States for Business ranking, scoring all 50 states on 85 measures of competitiveness across 10 broad categories.

  • Soccer Fans Gather To Watch US Team's Knockout Stage Match Against Belgium

    CNBC unveils its 12th annual America's Top States for Business study. See where your state ranks in 2018.

Latest Special Reports

  • CNBC Changemakers

    CNBC Changemakers: Women Transforming Business is an annual list spotlighting women whose accomplishments have left an indelible mark on the business world.

  • Unlock the keys to building a successful long-term financial plan: manage your money, grow your money, and protect it.

  • More than ever, the hope for a sustainable world has gained traction among the next generation of businesses, policymakers and investors. CNBC’s Sustainable Future focuses on how smart investments, new ideas and tech innovation can generate commerce — and a world — with staying power.