2. Washington

A great workforce and growing economy help the Evergreen State stand tall. But high costs chip away at its advantages.

Boeing 747 jets are built in the company's factory at Paine Field in Everett, Washington.
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Boeing 747 jets are built in the company's factory at Paine Field in Everett, Washington.
Category
Score
2018 Rank
2017 Rank
Grade
Workforce 305 2 5 A+
Infrastructure 196 31 32 (Tie) C+
Cost of Doing Business 162 33 32 (Tie) C+
Economy 245 4 3 A+
Quality of Life 225 5 5 B+
Technology & Innovation 166 6 3 A
Education 131 12 19 B+
Business Friendliness 69 32 31 C-
Access to Capital 81 11 8 A-
Cost of Living 14 37 37 D
Overall 1594 2 1 -

Economic Profile

Governor: Jay Inslee, Democrat

Population: 7,405,743

GDP growth (Q4 2017): 3.1 percent

Unemployment rate (May 2018): 4.7 percent

Top corporate tax rate: None (levies a gross receipts tax)

Top individual income tax rate: None

Gasoline tax: 49.40 cents/gallon

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

Major private employers: Costco Wholesale, Microsoft

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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