POPULATION: 2,978,512 (2011 U.S. Census)
LABOR FORCE: 1,343,846 (BLS, 2011 annual
average)
RIGHT TO WORK: Yes
TRADITIONAL INDUSTRIES:Agriculture, chemicals, food
processing, forest products, furniture,
lumber and wood, shipbuilding
EXPANDING INDUSTRIES: Automotive, aerospace, communications
& information
technology, energy, distribution
centers, healthcare, plastics
and polymers, steel and metal
fabrication
COLLEGE GRADUATES: (Age 25 and over) 19.5%
BASIC BUSINESS TAXES:
Corporate Income Tax: 3 percent
on first $5,000; 5 percent
for income over $10,000
(exemptions)
Corporate Franchise Tax: $2.50 for each $1,000 of
capital invested in the state
General Retail Sales Tax:
7 percent
Property Tax: No state tax; local
rates vary on real and tangible
personal property with assessment
ratio for most property at
15 percent of true value
BUSINESS INCENTIVES:
Aerospace incentives
Advantage Jobs Program
Broadband technology tax
credits
Clean energy incentives
Free Port Warehouse Property
Tax Exemption
Growth and Prosperity Program
Headquarters tax credits
In-State Inventory Property Tax
Exemption
Industrial Property Tax
Exemption
Jobs Tax Credits
Manufacturing Investment
Tax Credits
Motion Picture Production
Rebate Program
MS Equity Investment
Tax Credits
Property tax exemption
for bond financing
Property tax exemption for
broadband technology
Property Tax Fee in Lieu
R&D Skills Tax Credits
Rural Economic Development
Sales and use tax exemption
for bond financing
Sales and use tax exemption
for construction or expansion
Sales tax exemption for broadband
technology
Sales tax exemption for headquarters
Sales tax exemption for motion
picture production
Skills Training Tax Credits
Tax Summary
Tourism Rebate Program
CDBG Program for Economic
Development
CDBG Loan for Economic
Development
CDBG for Public Facilities
Projects
Development Infrastructure
Grant Program (DIP)
Economic Development
Highway Grant Program (EDH)
Healthcare Industry Zone
incentives
Data center incentives
Biomass Investment Tax Credit
