32. California

Companies come here to get in on the gold rush of venture capital, but high costs and regulation can stifle the dream.

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Category
Score
2019 Rank
2018 Rank
Grade
Workforce 290 10 12 B
Economy 228 19 11 B
Infrastructure 164 33 24 C
Cost of Doing Business 45 50 48 F
Quality of Life 203 17 21 C+
Education 85 30 32 C-
Technology & Innovation 141 1 1 A+
Business Friendliness 13 50 50 F
Access to Capital 75 1 1 A+
Cost of Living 2 49 49 F
Overall 1246 32 25 -

Economic Profile

Governor: Gavin Newsom, Democrat

Population: 39,557,045

GDP growth (Q4 2018): 2.2%

Unemployment rate (May 2019): 4.2%

Top corporate tax rate: 8.84%

Top individual income tax rate: 12.3%

Gasoline tax: 60.8 cents/gallon

Bond rating: (Moody's/S&P): Aa3, positive/AA-, stable

Major private employers: Kaiser Permanente, Apple

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

Best | Worst

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    The war between the states for business and jobs has never been more intense, with states paying staggering amounts of taxpayer dollars to woo companies. Here is the ranking of America's Top States for Business in 2019, released by CNBC today.

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Features

Top States Past Year Rankings

  • CNBC unveils its 12th annual America's Top States for Business study. See where your state ranks in 2018.

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

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