Top States for Business

34. Arizona

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Arizona Score and Ranking

CATEGORY  2022 SCORE  2022 RANK 2021 RANK  2021 GRADE 
WORKFORCE27375A-
INFRASTRUCTURE23968B+
COST OF DOING BUSINESS1443537C
ECONOMY1712214C-
LIFE, HEALTH & INCLUSION675050F
TECHNOLOGY & INNOVATION1172927C-
BUSINESS FRIENDLINESS15147A-
EDUCATION714241D+
ACCESS TO CAPITAL164126D-
COST OF LIVING183331D+
OVERALL12673430

Economic Profile

Governor: Doug Ducey, Republican

Population: 7,276,316

GDP growth (Q1 2022): -2.5%

Unemployment rate (May 2022): 3.2 %

Top corporate tax rate: 4.9%

Top individual income tax rate: 4.5%

Gasoline tax: 19 cents/gallon

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

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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