POPULATION: 2,835,864 (2009)
LABOR FORCE: 1,163,794 (2010)
RIGHT TO WORK: Yes
TRADITIONAL INDUSTRIES: Manufacturing, mining, government,
agriculture
EXPANDING INDUSTRIES: Life sciences, healthcare, outdoor
products/recreation, advanced
composites, autonomous vehicles,
renewable energy, financial services,
digital media
COLLEGE GRADUATES: (Age 25 and over) 35.6%
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:
• Renewable Energy Development
Incentive (REDI)
• Custom Fit Training Program
• Economic Opportunities (EO)
• Film incentives
• Private activity bonds (PABs)
• Recycling zones
• Manufacturing equipment sales
tax exemption
• Short-term intensive training/
incumbent worker training
• Workforce Investment Act (WIA)
• Industrial development bonds
• Aerospace tools tax exemption