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New Jersy Score and Ranking
| CATEGORY | 2024 SCORE | 2024 RANK | 2023 RANK | 2024 GRADE |
|---|---|---|---|---|
| INFRASTRUCTURE | 211 | 30 | 21 | C+ |
| WORKFORCE | 219 | 15 | 16 | C |
| ECONOMY | 208 | 17 | 19 | C+ |
| QUALITY OF LIFE | 248 | 3 | 3 | A- |
| COST OF DOING BUSINESS | 93 | 42 | 44 | D |
| TECHNOLOGY & INNOVATION | 129 | 26 | 21 | C |
| BUSINESS FRIENDLINESS | 50 | 49 | 48 | F |
| EDUCATION | 74 | 8 | 4 | A- |
| ACCESS TO CAPITAL | 61 | 7 | 11 | B+ |
| COST OF LIVING | 20 | 37 | 30 | C- |
| OVERALL | 1313 | 25 | 19 |
Economic Profile
Governor: Phil Murphy, Democrat
Population: 9,290,841
GDP growth (Q1 2024): 1.0%
Unemployment rate (May 2024): 4.6%
Top corporate tax rate: 9%
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
