Top States for Business

6. Tennessee

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Tennessee Score and Ranking

CATEGORY  2022 SCORE  2022 RANK 2021 RANK  2021 GRADE 
WORKFORCE2411525B-
INFRASTRUCTURE23684B+
COST OF DOING BUSINESS23188A
ECONOMY28122A+
LIFE, HEALTH & INCLUSION1084246F
TECHNOLOGY & INNOVATION1302832C
BUSINESS FRIENDLINESS1012320C-
EDUCATION1061123B+
ACCESS TO CAPITAL262214C-
COST OF LIVING4658A-
OVERALL150665

Economic Profile

Governor: Bill Lee, Republican

Population: 6,975,218

GDP growth (Q1 2022): -1.2%

Unemployment rate (May 2022): 3.3%

Top corporate tax rate: 6.5%

Top individual income tax rate: None

Gasoline tax: 27.40 cents/gallon

Bond rating (Moody's/S&P): Aaa, stable/AAA, 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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