POPULATION: 2,615,129 (2006)
LABOR FORCE: 1,311,073 (2006)
RIGHT TO WORK: Yes
TRADITIONAL INDUSTRIES: Manufacturing, mining, goverment, agriculture
EXPANDING INDUSTRIES: Healthcare, aerospace, outdoor products, construction, trade
COLLEGE GRADUATES: (Age 25 and over) 27.2%
BASIC BUSINESS TAXES:
Corporate Income and Franchise Tax: 5 percent
Sales and Use Tax: 5.75–7.25 percent
Property Tax: Statewide property tax per capita of 2.4 percent
BUSINESS INCENTIVES:
Commonly used incentives:
- • Economic Development Zone tax increment financing
- • Industrial Assistance Fund (IAF)
- • Rural Fast Track Program (RFTP)
- • Enterprise Zones
Specialty incentives:
- • Aerospace aviation tax increment financing (AATIF)
- • Custom Fit training
- • Economic Opportunities (EO)
- • Film incentives
- • Private Activity Bond (PAB)
- • Recycling Zones
- • Rural Broadband Service Fund
- • Manufacturing equipment sales tax exemption
- • Short-term intensive training, incumbent worker training
- • Workforce Investment Act (WIA)
- • Industrial Development Bonds
- • Aerospace tools tax exemption