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Alabama Score and Ranking
| CATEGORY | 2024 SCORE | 2024 RANK | 2023 RANK | 2024 GRADE |
|---|---|---|---|---|
| INFRASTRUCTURE | 258 | 8 | 13 | A- |
| WORKFORCE | 199 | 24 | 44 | D+ |
| ECONOMY | 199 | 20 | 21 | C |
| QUALITY OF LIFE | 83 | 48 | 46 | F |
| COST OF DOING BUSINESS | 176 | 14 | 12 | B+ |
| TECHNOLOGY & INNOVATION | 146 | 21 | 32 | B- |
| BUSINESS FRIENDLINESS | 155 | 13 | 42 | B- |
| EDUCATION | 71 | 12 | 34 | B+ |
| ACCESS TO CAPITAL | 33 | 29 | 37 | D+ |
| COST OF LIVING | 31 | 14 | 11 | B |
| OVERALL | 1351 | 20 | 42 |
Economic Profile
Governor: Kay Ivey, Republican
Population: 5,108,468
GDP growth (Q1 2024): 2.9%
Unemployment rate (May 2024): 3.0%
Top corporate tax rate: 6.5%
Top individual income tax rate: 5%
Gasoline tax: 49.71 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
