29. North Dakota

Life is tranquil in the Peace Garden State, but a lack of business capital makes it hard for businesses to prosper.

Oil derricks pump oil in a field in North Dakota. 
Getty Images
Oil derricks pump oil in a field in North Dakota. 
Category
Score
2018 Rank
2017 Rank
Grade
Workforce 225 30 12 C+
Infrastructure 227 14 17 B
Cost of Doing Business 175 29 29 C+
Economy 105 44 40 D
Quality of Life 233 4 4 A-
Technology & Innovation 63 42 39 F
Education 108 23 13 (Tie) C+
Business Friendliness 115 6 4 (Tie) B+
Access to Capital 10 46 47 (Tie) F
Cost of Living 22 29 26 C-
Overall 1283 29 19 -

Economic Profile

Governor: Doug Burgum, Republican

Population: 755,393

GDP growth (Q4 2017): -1.3 percent

Unemployment rate (May 2018): 2.6 percent

Top corporate tax rate: 4.31 percent

Top individual income tax rate: 2.90 percent

Gasoline tax: 23 cents/gallon

Bond rating (Moody's/S&P): Aa1(issuer rating), negative/AA+, stable

Major private employers: Sanford-Health, MDU Resources 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

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