Maine Is the 36th Best State for Business 2014

J.P. Donlon

J.P. Donlon

The state’s GDP growth is lower than the national average at 0.5%. Its unemployment rate is also lower at 6.2%, but it’s state-local tax burden is higher at 10.3%.

Previous State: West Virginia Next State: Mississippi

No. 36 Maine

Taxations & Regulations

Workforce Quality

Living Environment

Key Metrics
State GDP 

  • % Growth ’12-’13: 0.9
  • % Growth ’11-’12 v. Nat’l Avg. (2.5%): -2

Unemployment

  • Unemployment Rate Dec. 2013 %: 6.2
  • Comparison with Nat’l Rate (6.70%): -0.5

Domestic Migration

  • Domestic Net Migration 2013: -1,423
  • Rank: 26

State Government

  • State Debt per Capita Fiscal Year ’13 ($): 4,363
  • State & Local Gov’t Employees per 10k Residents: 580.7

State-Local Tax Burden

  • Rate (%): 10.3%
  • Compared to Nat’l Avg. (9.9%): 0.40%
Key Companies
  • INDEXX Laboratories
  • Wright Express
  • Camden National
Development Trend Indicator: Neutral
Fiscally tight Gov. LePage is battling tax-increase efforts by legislature.


Based on CEO Survey by ChiefExecutive.net

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


J.P. Donlon

J.P. Donlon

J.P. Donlon is Editor Emeritus of Chief Executive magazine.

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