Top States for Business

45. Rhode Island

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Rhode Island Score and Ranking

CATEGORY  2022 SCORE  2022 RANK 2021 RANK  2022 GRADE 
WORKFORCE1943923D+
INFRASTRUCTURE1494442F
COST OF DOING BUSINESS854746D-
ECONOMY1224136D-
LIFE, HEALTH & INCLUSION2001613C+
TECHNOLOGY & INNOVATION1083328D+
BUSINESS FRIENDLINESS823630D
EDUCATION852928C+
ACCESS TO CAPITAL242941C-
COST OF LIVING94242F
OVERALL10584546

Economic Profile

Governor: Dan McKee, Democrat

Population: 1,095,610

GDP growth (Q1 2022): -0.6%

Unemployment rate (May 2022): 2.9%

Top corporate tax rate: 7.0%

Top individual income tax rate: 5.99%

Gasoline tax: 35 cents/gallon

Bond rating (Moody's/S&P): Aa2, 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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