50. Rhode Island

Infrastructure issues loom large in the smallest state, but with a rescue plan in place, officials are hopeful.

Rhode Island state flag painted on a wall
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Category
Score
2019 Rank
2018 Rank
Grade
Workforce 226 32 15 D+
Economy 87 48 28 F
Infrastructure 98 50 50 F
Cost of Doing Business 99 44 44 D-
Quality of Life 159 28 27 D+
Education 95 25 25 C+
Technology & Innovation 90 27 33 C
Business Friendliness 55 40 38 D
Access to Capital 19 39 43 D-
Cost of Living 10 41 42 F
Overall 938 50 45 -

Economic Profile

Governor: Gina Raimondo, Democrat

Population: 1,057,315

GDP growth (Q4 2018): 1%

Unemployment rate (May 2019): 3.6%

Top corporate tax rate: 7.0%

Top individual income tax rate: 5.99%

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

Best | Worst

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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.

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