5. Washington

America's fastest-growing economy is home to iconic companies. But infrastructure is poor and costs are high.

US state flag of Washington
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Category
Score
2019 Rank
2018 Rank
Grade
Workforce 325 3 2 A
Economy 289 5 4 A
Infrastructure 157 39 31 C-
Cost of Doing Business 164 32 33 C+
Quality of Life 232 5 5 B
Education 109 11 12 B+
Technology & Innovation 139 2 6 A+
Business Friendliness 68 35 32 D+
Access to Capital 62 9 11 A-
Cost of Living 13 38 37 D-
Overall 1558 5 2 -

Economic Profile

Governor: Jay Inslee, Democrat

Population: 7,535,591

GDP growth (Q4 2018): 3.1%

Unemployment rate (May 2019): 4.7%

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