Audrey Scripp | Istock | Getty Images
New Jersey Score and Ranking
| CATEGORY | 2023 SCORE | 2023 RANK | 2022 RANK | 2023 GRADE |
|---|---|---|---|---|
| WORKFORCE | 232 | 16 | 23 | B- |
| INFRASTRUCTURE | 212 | 21 | 34 | C+ |
| ECONOMY | 199 | 19 | 50 | C |
| LIFE, HEALTH & INCLUSION | 282 | 3 | 8 | A- |
| COST OF DOING BUSINESS | 88 | 44 | 43 | D |
| TECHNOLOGY & INNOVATION | 158 | 21 | 27 | C+ |
| BUSINESS FRIENDLINESS | 48 | 48 | 47 | F |
| EDUCATION | 87 | 4 | 3 | A |
| ACCESS TO CAPITAL | 35 | 11 | 13 | B |
| COST OF LIVING | 21 | 30 | 40 | C- |
| OVERALL | 1362 | 19 | 42 |
Economic Profile
Governor: Phil Murphy, Democrat
Population: 9,261,699
GDP growth (Q1 2023): 1.0%
Unemployment rate (May 2023): 3.60%
Top corporate tax rate: 9.0%
Top individual income tax rate: 10.75%
Gasoline tax: 69.10 cents/gallon
Bond rating (Moody's/S&P): A1, 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 (including 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence
