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New Jersey Score and Ranking
| CATEGORY | 2025 SCORE | 2025 RANK | 2024 RANK | 2025 GRADE |
|---|---|---|---|---|
| ECONOMY | 221 | 31 | 17 | C- |
| INFRASTRUCTURE | 218 | 21 | 30 | B- |
| WORKFORCE | 205 | 14 | 15 | B- |
| COST OF DOING BUSINESS | 108 | 38 | 42 | D+ |
| BUSINESS FRIENDLINESS | 35 | 49 | 49 | F |
| QUALITY OF LIFE | 201 | 3 | 3 | A- |
| TECHNOLOGY & INNOVATION | 151 | 16 | 26 | B- |
| EDUCATION | 69 | 7 | 8 | A- |
| ACCESS TO CAPITAL | 42 | 11 | 7 | B- |
| COST OF LIVING | 23 | 37 | 37 | D+ |
| OVERALL | 1273 | 30 | 25 |
Economic Profile
Governor: Phil Murphy, Democrat
Population: 9,500,851
GDP growth (Q1 2025): -1.0%
Unemployment rate (May 2025): 4.8%
Top corporate tax rate: 11.5%
Top individual income tax rate: 10.75%
Gasoline tax: 63.35 cents/gallon
Bond rating (Moody's/S&P): A1, Positive/A, Stable
Economic profile sources: U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Tax Foundation, Energy Information Administration (including 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence
