Top States for Business 2021

11. Michigan

With so many engineers, the Wolverine State features advanced brain power. But K-12 education is an issue.

Michigan Score and Ranking

Category 2021 Score 2021 Rank 2019 Rank 2021 Grade
Cost of Doing Business2401627B+
Life, Health & Inclusion18928--C-
Business Friendliness1052522C+
Access to Capital1142016B-
Technology & Innovation12766A-
Cost of Living60115A-

Economic Profile

Governor: Gretchen Whitmer, Democrat

Population: 9,966,555

GDP growth (Q1 2021): 7.6%

Unemployment rate (May 2021): 5%

Top corporate tax rate: 6%

Top individual income tax rate: 4.25%

Gasoline tax: 41.98 cents/gallon

Bond rating (Moody's/S&P): Aa1, stable/AA, stable

Major private employers: Ford Motor Co., The Dow Chemical Company

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

This page has been updated to reflect that S&P upgraded Michigan's credit outlook to stable on July 7, 2021. The upgrade does not affect Michigan's Top States ranking or score. 

America's Top States for Business 2021