Top States for Business

42. New Jersey

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New Jersey Score and Ranking

CATEGORY  2022 SCORE  2022 RANK 2021 RANK  2022 GRADE 
WORKFORCE2232311C+
INFRASTRUCTURE1763416D+
COST OF DOING BUSINESS1094344D+
ECONOMY815039F
LIFE, HEALTH & INCLUSION232810B
TECHNOLOGY & INNOVATION1312720C+
BUSINESS FRIENDLINESS594742F
EDUCATION12733A+
ACCESS TO CAPITAL301312C+
COST OF LIVING114041F
OVERALL11794226

Economic Profile

Governor: Phil Murphy, Democrat

Population: 9,267,130

GDP growth (Q1 2022): -2.2%

Unemployment rate (May 2022): 3.9%

Top corporate tax rate: 11.5%

Top individual income tax rate: 10.75%

Gasoline tax: 50.70 cents/gallon

Bond rating (Moody's/S&P): A2, stable/A-, 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

Charming downtown Middlebury, Vermont.
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