Top States for Business

29. Vermont

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Vermont Score and Ranking

CATEGORY2023 SCORE2023 RANK2022 RANK2023 GRADE
WORKFORCE1844150D
INFRASTRUCTURE1723722D+
ECONOMY1503933D+
LIFE, HEALTH & INCLUSION32711A+
COST OF DOING BUSINESS1024039D+
TECHNOLOGY & INNOVATION1323137C-
BUSINESS FRIENDLINESS1131614B-
EDUCATION77108B+
ACCESS TO CAPITAL213245D+
COST OF LIVING153641D
OVERALL12932931

Economic Profile

Governor: Phil Scott, Republican

Population: 647,064

GDP growth (Q1 2023): 0.50%

Unemployment rate (May 2023): 2.10%

Top corporate tax rate: 8.50%

Top individual income tax rate: 8.75%

Gasoline tax: 50.54 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