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Washington is the 33rd Best State for Business 2014

In Washington state, small businesses are adding jobs faster than in any other state in the country, according to CCNMoney.com. The jobless rate was just 6.7% in March, with 6,700 new jobs created, according to GeekWire. In Seattle, the jobless rate was even lower, at 5.2%. The city plans to raise its minimum wage to $15/hour.

Previous State: Alaska Next State: Minnesota

No. 33 Washington

Taxations & Regulations

Workforce Quality

Living Environment

Key Metrics
State GDP 

  • % Growth ’12-’13: 2.7
  • % Growth ’11-’12 v. Nat’l Avg. (2.5%): 1.1

Unemployment

  • Unemployment Rate Dec. 2013 %: 6.6
  • Comparison with Nat’l Rate (6.70%): -0.1

Domestic Migration

  • Domestic Net Migration 2013: 17,027
  • Rank: 7

State Government

  • State Debt per Capita Fiscal Year ’13 ($): 4,213
  • State & Local Gov’t Employees per 10k Residents: 527.3

State-Local Tax Burden

  • Rate (%): 9.3%
  • Compared to Nat’l Avg. (9.9%): -0.57%
Key Companies
  • Costco
  • Microsoft
  • Amazon.com
  • Starbucks
  • Weyerhauser
Development Trend Indicator: Positive
Strong job growth defies nation’s highest minimum wage at $9.32 an hour.


Based on CEO Survey by ChiefExecutive.net

Sources:
Bureau of Economic Analysis
Bureau of Labor Statistics
NewGeography.com
The Tax Foundation

About JP Donlon

JP Donlon
JP Donlon is the Editor-in-Chief of Chief Executive magazine.