POPULATION: 967,440

LABOR FORCE: 506,159

RIGHT TO WORK: No

TRADITIONAL INDUSTRIES: Natural resources, agriculture, tourism, manufacturing

EXPANDING INDUSTRIES: High tech, aerospace, value-added agricultural products, telecommunications, research and development, professional services

COLLEGE GRADUATES: (Age 25 and over) 26.7%

BASIC BUSINESS TAXES:
Corporate License (Income) Tax: 6.75 percent of all net income; corporations subject to apportionment may choose between worldwide combined reporting and the water’s-edge combination method of reporting (7 percent tax rate for water’s-edge)

Sales and Use Tax: None

Property Tax: Levied primarily by local jurisdictions; the state levies about 101 mills and ensures equal treatment of property by standardizing assessment and appraisals; tax liability is determined by applying the appropriate tax rate for the property (14 classes of property) to market value, then multiplying by mill levy

BUSINESS INCENTIVES:
Workforce training grants
Business economic development loans
Stand-Alone and Pooled Industrial Revenue Bond programs
Research and commercialization grants
Community infrastructure development loans
Tax increment financing
Infrastructure incentives
Property tax incentives (for new or expanding industries)
Targeted industry tax incentives (for film productions, aerospace, renewable energy, and others)
Economic Development Trust Fund grants (for new job creation)