Top States for Business

31. Vermont

Denis Jr. Tangney | Getty Images

Vermont Score and Ranking

CATEGORY  2022 SCORE  2022 RANK 2021 RANK  2022 GRADE 
WORKFORCE1315050F
INFRASTRUCTURE2002246C
COST OF DOING BUSINESS1353938C-
ECONOMY1493349D+
LIFE, HEALTH & INCLUSION30811A+
TECHNOLOGY & INNOVATION943726D
BUSINESS FRIENDLINESS1291433B
EDUCATION10985B+
ACCESS TO CAPITAL124531F
COST OF LIVING104140D-
OVERALL12773142

Economic Profile

Governor: Phil Scott, Republican

Population: 645,570

GDP growth (Q1 2022): 0.7%

Unemployment rate (May 2022): 2.3%

Top corporate tax rate: 8.5%

Top individual income tax rate: 8.75%

Gasoline tax: 32.14 cents/gallon

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

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

Correction: Vermont ranked 46th in Infrastructure and 50th in Workforce in 2021. An earlier version of this state profile page misstated those rankings.

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