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Minnesota Score and Ranking
| CATEGORY | 2023 SCORE | 2023 RANK | 2022 RANK | 2023 GRADE |
|---|---|---|---|---|
| WORKFORCE | 228 | 17 | 21 | B- |
| INFRASTRUCTURE | 254 | 3 | 4 | A- |
| ECONOMY | 193 | 24 | 16 | C |
| LIFE, HEALTH & INCLUSION | 269 | 4 | 5 | B+ |
| COST OF DOING BUSINESS | 103 | 39 | 41 | D+ |
| TECHNOLOGY & INNOVATION | 212 | 4 | 6 | A- |
| BUSINESS FRIENDLINESS | 88 | 30 | 32 | C- |
| EDUCATION | 75 | 13 | 15 | B+ |
| ACCESS TO CAPITAL | 28 | 20 | 13 | C+ |
| COST OF LIVING | 33 | 17 | 26 | B |
| OVERALL | 1483 | 5 | 9 |
Economic Profile
Governor: Tim Walz, Democrat
Population: 5,717,184
GDP growth (Q1 2023): 2.20%
Unemployment rate (May 2023): 2.90%
Top corporate tax rate: 9.80%
Top individual income tax rate: 9.85%
Gasoline tax: 49.00 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, American Petroleum Institute (including 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence
