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An NJBIA State Level Analysis
METHODOLOGY: NJBIA tracked six individual business costs and metrics – minimum wage rate, top income tax rate, top corporate tax rate, sales tax rate, property taxes as a percentage of personal income, and the state’s national unemployment insurance tax ranking – and compared New Jersey’s rates with those of Connecticut, Delaware, Maryland, Massachusetts, New York and Pennsylvania.
NJBIA scored the regional rates from 1 (least competitive in the region) to 7 (most competitive). Overall, the higher the total points, the more competitive a state is. New Jersey’s cumulative regional business climate score was 13 after totaling the six categories, ranking seventh in the region. Delaware has the best regional score at 34.
