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Michigan Score and Ranking
| CATEGORYÂ | 2022 SCOREÂ | 2022 RANK | 2021 RANKÂ | 2022 GRADEÂ |
|---|---|---|---|---|
| WORKFORCE | 215 | 26 | 28 | C |
| INFRASTRUCTURE | 212 | 19 | 18 | C+ |
| COST OF DOING BUSINESS | 227 | 9 | 16 | A |
| ECONOMY | 178 | 21 | 24 | C |
| LIFE, HEALTH & INCLUSION | 150 | 29 | 28 | D+ |
| TECHNOLOGY & INNOVATION | 151 | 15 | 6 | B |
| BUSINESS FRIENDLINESS | 116 | 20 | 25 | C+ |
| EDUCATION | 87 | 27 | 42 | C+ |
| ACCESS TO CAPITAL | 33 | 11 | 20 | B- |
| COST OF LIVING | 39 | 12 | 11 | A- |
| OVERALL | 1408 | 16 | 11 |
Economic Profile
Governor: Gretchen Whitmer, Democrat
Population: 10,050,811
GDP growth (Q1 2022): 0.1%
Unemployment rate (May 2022): 4.3%
Top corporate tax rate: 6%
Top individual income tax rate: 4.25%
Gasoline tax: 45.17 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 (excluding 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence
This page has been updated to reflect that S&P upgraded Michigan's credit outlook to stable on July 7, 2021. The upgrade does not affect Michigan's Top States ranking or score.Â
