POPULATION: 2,783,733 (2008 estimate)
LABOR FORCE: 1,409,227 (July 2009)
RIGHT TO WORK: Yes
TRADITIONAL INDUSTRIES: Mining, tourism, agriculture
EXPANDING INDUSTRIES: Renewable energy, light manufacturing, research and development, financial services
COLLEGE GRADUATES: (Age 25 and over) 20.9%
BASIC BUSINESS TAXES:
Corporate Income Tax: None
Business License Fee: $200 annually
Gross Payroll Tax: 0.5–1.17 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: 6.85 percent on retail sales plus local add-ons
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 Scholarship Program
Publicly registered securities offerings
