Top States for Business

24. Connecticut

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Reasonable regulations and innovative workers sweeten what can be a higher-cost deal in the Nutmeg State.

Connecticut Score and Ranking

Category 2021 Score 2021 Rank 2019 Rank 2021 Grade
Cost of Doing Business1184543D-
Infrastructure2071843B-
Life, Health & Inclusion19824--C
Workforce2021515B-
Economy1243243C
Business Friendliness143821B+
Access to Capital1151820B-
Technology & Innovation123818A-
Education96118B
Cost of Living124343F
Overall13382435--

Economic Profile

Governor: Ned Lamont, Democrat

Population: 3,557,006

GDP growth (Q1 2021): 6%

Unemployment rate (May 2021): 7.7%

Top corporate tax rate: 7.5%

Top individual income tax rate: 6.99%

Gasoline tax: 35.75 cents/gallon

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

Major private employers: United Technologies Corp.

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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