9. North Carolina

A great workforce has businesses sticking with the Tar Heel State, but underfunded schools are infringing on success.

Biotechnology remains a key industry along the Research Triangle in North Carolina
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Biotechnology remains a key industry along the Research Triangle in North Carolina
Category
Score
2018 Rank
2017 Rank
Grade
Workforce 281 9 7 (Tie) A-
Infrastructure 206 21 20 (Tie) C+
Cost of Doing Business 222 16 9 A-
Economy 238 6 15 (Tie) A
Quality of Life 145 28 28 (Tie) D+
Technology & Innovation 153 11 6 B+
Education 80 37 32 D
Business Friendliness 83 23 8 (Tie) C+
Access to Capital 82 9 9 (Tie) A-
Cost of Living 33 18 19 B
Overall 1523 9 5 -

Economic Profile

Governor: Roy Cooper, Democrat

Population: 10,273,419

GDP growth (Q4 2017): 2.9 percent

Unemployment rate (May 2018): 4.3 percent

Top corporate tax rate: 3 percent

Top individual income tax rate: 5.499 percent

Gasoline tax: 34.35 cents/gallon

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

Major private employers: Wal-Mart, Bank of America

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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