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Tennessee Score and Ranking
| CATEGORY | 2023 SCORE | 2023 RANK | 2022 RANK | 2023 GRADE |
|---|---|---|---|---|
| WORKFORCE | 245 | 9 | 15 | B |
| INFRASTRUCTURE | 254 | 3 | 8 | A- |
| ECONOMY | 295 | 5 | 2 | A- |
| LIFE, HEALTH & INCLUSION | 115 | 43 | 42 | D- |
| COST OF DOING BUSINESS | 205 | 7 | 8 | A |
| TECHNOLOGY & INNOVATION | 140 | 27 | 28 | C |
| BUSINESS FRIENDLINESS | 104 | 19 | 23 | C+ |
| EDUCATION | 84 | 5 | 11 | A- |
| ACCESS TO CAPITAL | 31 | 15 | 22 | B- |
| COST OF LIVING | 29 | 22 | 5 | B- |
| OVERALL | 1502 | 3 | 6 |
Economic Profile
Governor: Bill Lee, Republican
Population: 7,051,339
GDP growth (Q1 2023): 3.50%
Unemployment rate (May 2023): 3.30%
Top corporate tax rate: 6.50%
Top individual income tax rate: None
Gasoline tax: 45.80 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 (including 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence
