36. New Jersey

Education is flourishing in the Garden State, but high costs and poor infrastructure are choking growth.

New Jersey is home to several major pharmaceutical companies. 
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New Jersey is home to several major pharmaceutical companies. 
Category
Score
2018 Rank
2017 Rank
Grade
Workforce 244 18 26 B
Infrastructure 164 43 46 D+
Cost of Doing Business 59 50 45 (Tie) F
Economy 138 31 31 C-
Quality of Life 194 16 13 B-
Technology & Innovation 134 18 18 (Tie) B-
Education 145 7 4 A-
Business Friendliness 33 44 42 F
Access to Capital 82 9 9 (Tie) A-
Cost of Living 10 41 41 F
Overall 1203 36 32 -

Economic Profile

Governor: Phil Murphy, Democrat

Population: 9,005,644

GDP growth (Q4 2017): 2.1 percent

Unemployment rate (May 2018): 4.4 percent

Top corporate tax rate: 9 percent

Top individual income tax rate: 8.97

Gasoline tax: 37.10 cents/gallon

Bond rating (Moody's/S&P): A3, stable/A-, stable

Major private employers: Wakefern Food Corporation, Johnson & Johnson

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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