California

33. California

The Golden State shines on innovation and capital, but high costs and oppressive regulations weigh.

Economic Profile

Governor: Gavin Newsom, Democrat

Population: 39,368,078

GDP growth (Q1 2021): 6.3%

Unemployment rate (May 2021): 7.9%

Top corporate tax rate: 8.84%

Top individual income tax rate: 12.3%

Gasoline tax: 63.05 cents/gallon

Bond rating: (Moody's/S&P): Aa2, stable/AA-, stable

Major private employers: Kaiser Permanente, Apple

Economic profile sources: U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Federation of Tax Administrators, American Petroleum Institute (excluding 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence

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