28. Pennsylvania

Easy access to capital can put your business on the map, but unstable state finances restrain growth.

Pennsylvania state Flag emblem on metallic texture
phot705 | iStock | Getty Images
Category
Score
2019 Rank
2018 Rank
Grade
Workforce 234 31 13 D+
Economy 145 39 41 D+
Infrastructure 183 24 37 B-
Cost of Doing Business 168 30 25 C+
Quality of Life 153 32 34 D+
Education 112 9 7 B+
Technology & Innovation 112 13 13 B+
Business Friendliness 80 29 31 C-
Access to Capital 65 6 6 A-
Cost of Living 23 28 32 C-
Overall 1275 28 22 -

Economic Profile

Governor: Tom Wolf, Democrat

Population: 12,807,060

GDP growth (Q4 2018): 2.5%

Unemployment rate (May 2019): 3.8%

Top corporate tax rate: 9.99%

Top individual income tax rate: 3.07%

Gasoline tax: 58.70 cents/gallon

Bond rating (Moody's/S&P): Aa3, stable/A+, stable

Major private employers: Knouse Foods Cooperative, Comcast

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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Features

Top States Past Year Rankings

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