25. Massachusetts

The Bay State is a cradle of innovation, with a deep heritage of educational quality. Businesses must pay dearly to operate in the state, where wages and costs are high.

Published 4:18 PM ET Tue, 24 June 2014 Updated 3:20 PM ET Wed, 2 July 2014 CNBC.com

Category	Score	2014 Rank	2013 Rank
Cost of Doing Business	96	46	47
Workforce	158	20 (Tie)	28
Quality of Life	221	7	13
Infrastructure & Transportation	98	45	40
Economy	243	19	3
Education	121	3	7
Technology & Innovation	245	5 (Tie)	7
Business Friendliness	117	21	21
Cost of Living	6	45	43
Access to Capital	21	(Tie) 9	1
Overall	1326	25	16

Economic Profile

Governor: Deval Patrick, Democrat

Population: 6,692,824

GDP growth: 1.6 percent

Unemployment rate (May 2014): 6 percent

Top corporate tax rate: 8 percent

Top individual income tax rate: 5.2 percent

Gasoline tax: 45 cents/gallon

Bond rating/outlook: Aa1/stable

Major private employer: Massachusetts General Hospital

Economic profile sources: Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, Bureau of Economic Analysis, Bureau of Labor Statistics, Boston Redevelopment Authority

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