45. Rhode Island (Tie)

The Ocean State features a great workforce, but it is still inundated with infrastructure woes.

A statue of Mr. Potato Head greets visitors to the corporate headquarters of toymaker Hasbro Inc. in Pawtucket, Rhode Island.
Michael Springer | Bloomberg | Getty Images
A statue of Mr. Potato Head greets visitors to the corporate headquarters of toymaker Hasbro Inc. in Pawtucket, Rhode Island.
Category
Score
2018 Rank
2017 Rank
2018 Rank
Workforce 254 15 27 B+
Infrastructure 100 50 50 F
Cost of Doing Business 105 44 43 (Tie) D-
Economy 144 28 29 (Tie) C
Quality of Life 148 27 31 (Tie) D+
Technology & Innovation 100 33 34 D+
Education 103 25 20 (Tie) C
Business Friendliness 54 38 37 (Tie) D+
Access to Capital 19 43 44 (Tie) F
Cost of Living 9 42 42 F
Overall 1036 45 45 -

Economic Profile

Governor: Gina Raimondo, Democrat

Population: 1,059,639

GDP growth (Q4 2017): 2.7 percent

Unemployment rate (May 2018): 4.4 percent

Top corporate tax rate: 7.0 percent

Top individual income tax rate: 5.99 percent

Gasoline tax: 34 cents/gallon

Bond rating (Moody's/S&P): Aa2, stable/AA, stable

Major private employers: Lifespan, CVS Health

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

  • CNBC unveils its 11th annual America's Top States for Business ranking for 2017, scoring all 50 states on 10 key measures of competitiveness.

  • Top States promos Arm Wrestling

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

  • Top States 2015

    CNBC unveils its 9th annual America's Top States for Business. See where your state ranks.

Latest Special Reports

  • The Edge explores the limitless potential of innovation.

  • A look at 50 private companies set to reshape the business landscape.

  • Automation, AI and machine learning will radically influence the relationship between employers and their workforce.