13. Tennessee

The Volunteer State steps up with a good economy and great infrastructure. But quality of life could use some help.

Painted guitars hang to dry after being lacquered at the Gibson Guitar Corp. factory in Nashville, Tennessee.
Jeff Adkins | Bloomberg | Getty Images
Painted guitars hang to dry after being lacquered at the Gibson Guitar Corp. factory in Nashville, Tennessee.
Category
Score
2018 Rank
2017 Rank
Grade
Workforce 229 27 19 B-
Infrastructure 259 5 2 A-
Cost of Doing Business 223 15 6 A-
Economy 232 7 5 A
Quality of Life 96 47 42 (Tie) F
Technology & Innovation 109 30 30 C
Education 88 33 37 D+
Business Friendliness 112 8 4 (Tie) B+
Access to Capital 60 23 23 C+
Cost of Living 46 5 7 A
Overall 1454 13 9 -

Economic Profile

Governor: Bill Haslam, Republican

Population: 6,715,984

GDP growth (Q4 2017): 3.0 percent

Unemployment rate (May 2018): 3.5 percent

Top corporate tax rate: 6.5 percent

Top individual income tax rate: 3 percent

Gasoline tax: 25.40 cents/gallon

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

Major private employers: Covenant Health, FedEx

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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