POPULATION: 2,623,050

LABOR FORCE: 1,356,700 (July 2007)

RIGHT TO WORK: Yes

TRADITIONAL INDUSTRIES: Mining, tourism, agriculture

EXPANDING INDUSTRIES: Light manufacturing, research and development, financial services

COLLEGE GRADUATES: (Age 25 and over) 18.2%

BASIC BUSINESS TAXES:
Corporate Income Tax: None

Business License Fee: $100 annually

Gross Payroll Tax: 0.63 percent with deductibility of employer-paid health insurance premiums; financial institutions are taxed at 2 percent and have a $1,750 branch fee.

Sales and Use Tax: 6.5 percent on retail sales; localities may impose an additional 0.50 percent for a maximum of 7 percent, with exemptions.

Property Tax: Levied at 35 percent of the property’s full cash value

BUSINESS INCENTIVES:
 Sales tax deferral and abatement
Property tax abatement
Foreign-Trade Zones
Job training
Personal property tax abatement
Industrial development revenue bonds
Modified business tax abatement
Private activity bond financing
Captive Insurance Program
Millennium Scholarships
Publicly registered securities offerings