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Michigan Score and Ranking
| CATEGORY | 2023 SCORE | 2023 RANK | 2022 RANK | 2023 GRADE |
|---|---|---|---|---|
| WORKFORCE | 215 | 24 | 26 | C |
| INFRASTRUCTURE | 205 | 26 | 19 | C+ |
| ECONOMY | 176 | 29 | 21 | C- |
| LIFE, HEALTH & INCLUSION | 178 | 24 | 29 | C |
| COST OF DOING BUSINESS | 209 | 6 | 9 | A |
| TECHNOLOGY & INNOVATION | 187 | 12 | 15 | B+ |
| BUSINESS FRIENDLINESS | 115 | 15 | 20 | B- |
| EDUCATION | 60 | 36 | 27 | C+ |
| ACCESS TO CAPITAL | 36 | 10 | 11 | B |
| COST OF LIVING | 43 | 7 | 12 | A |
| OVERALL | 1424 | 10 | 16 |
Economic Profile
Governor: Gretchen Whitmer, DemocratÂ
Population: 10,034,113
GDP growth (Q1 2023): 1.70%
Unemployment rate (May 2023): 3.70%
Top corporate tax rate: 6.00%
Top individual income tax rate: 4.25%
Gasoline tax: 63.57 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 (including 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence
