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Minnesota Score and Ranking
| CATEGORY | 2025 SCORE | 2025 RANK | 2024 RANK | 2025 GRADE |
|---|---|---|---|---|
| ECONOMY | 226 | 28 | 24 | C |
| INFRASTRUCTURE | 258 | 5 | 5 | A- |
| WORKFORCE | 168 | 30 | 19 | D+ |
| COST OF DOING BUSINESS | 122 | 34 | 35 | C- |
| BUSINESS FRIENDLINESS | 150 | 21 | 22 | B- |
| QUALITY OF LIFE | 189 | 4 | 4 | B+ |
| TECHNOLOGY & INNOVATION | 158 | 14 | 12 | B- |
| EDUCATION | 63 | 12 | 17 | B |
| ACCESS TO CAPITAL | 36 | 18 | 12 | C+ |
| COST OF LIVING | 27 | 33 | 19 | C- |
| OVERALL | 1397 | 10 | 6 |
Economic Profile
Governor: Tim Walz, Democrat
Population: 5,793,151
GDP growth (Q1 2025): -2.4%
Unemployment rate (May 2025): 3.3%
Top corporate tax rate: 9.8%
Top individual income tax rate: 9.85%
Gasoline tax: 50.30 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, Energy Information Administration (including 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence
