America's Top States for Business in 2019

A scorecard on state economic climate

From CNBC, July 10, 2019

To rank CNBC's 2019 America's Top States for Business, we put all 50 states through a rigorous test and graded them based on more than 60 measures of competitiveness in 10 broad categories. Each category is weighted according to how frequently states use them as a selling point in economic development marketing materials. That way, our study ranks the states based on the attributes they use to sell themselves. CNBC's criteria was developed with guidance from a diverse array of business and policy experts and official government sources, along with input from the states themselves. And our metrics are based on publicly available data from a variety of sources. As in years past, some states tied in several categories. Learn more about our categories and methodology here.

Full 2019 Top States coverage

49. Hawaii

It's no wonder this state is known as the Paradise of the Pacific, but everyday life—and business—can be outrageously expensive.

Economic Profile

• Governor: David Ige, Democrat
• Population: 1,420,491
• GDP growth (Q4 2018): 1.1%
• Unemployment rate (May 2019): 2.8%
• Top corporate tax rate: 6.4%
• Top individual income tax rate: 11%
• Gasoline tax: 46.76 cents/gallon
• Bond rating: (Moody's/S&P): Aa1, stable/AA+, stable
• Major private employers: Bank of Hawaii, Corp., Hawaiian Electric Industries Inc.

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

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HTH: CNBC business scorecard ranks Hawaii poorly