Rankings: Maine vs. Other States
How does Maine rank in comparison to other states?
How does Maine rank in comparison to other states?
Maine is in a competition with other states for jobs, workers, and investments – critical ingredients for economic growth. States that are winning this competition are more self-sufficient and better able to support families, build wealth, grow communities, and generate tax revenue to fund public services. So, how does Maine rank among the 50 states?
Economy
Maine’s economy ranks #42 (9th worst)
At $60,994, Maine’s per capita real GDP ranks #40 (11th lowest)
Business Climate
Maine’s regulatory environment ranks #48 (3rd worst)*
Maine’s business environment ranks #43 (8th worst)
Maine ranks #40 (11th worst) for cost of doing business.
Maine’s ranks #39 (12th worst) for top states for businesses.
Maine ranks #45 (6th worst) for best states to start a business in 2024.
Investment
Maine ranks #43 (8th lowest) for venture capital investment.
Maine Ranks #47 (4th worst) for Access to Capital for businesses.
Infrastructure
Maine’s infrastructure ranks #49 (2nd worst)
Income and Wages
Total personal income in Maine ranks #42 (9th lowest).
Maine’s personal income per capita ranks #29.
Cost of Living
At 110% of the U.S. average, Maine’s cost of living ranks #39 (12th highest).
On average, Mainers spend 91% of their income, ranking the state #45 (6th highest) among states.
Source The Senior List, Where do Paychecks Stretch Farthest? November 2023
Health Care Costs
AT $9,531, Maine ranks #9 highest for per capita health care spending.
Energy Costs
Maine ranks #30 for energy consumption per capita, but ranks #18 highest for energy expenditures per capita.
Maine ranks #45 for energy production and net electricity generation, and #5 highest for average residential electricity prices.
Tax Burden
Maine ranks #3 highest in the nation for Overall Tax Burden
Income Tax
At a top rate of 7.15%, Maine’s top marginal income tax ranks #10 highest
Property Tax
At 5.21% of personal income, Maine’s property tax burden ranks #1 highest
Corporate and Business Taxes
At a top rate of 8.93%, Maine’s corporate tax ranks #5 highest
Workforce
Top At 22.5%, Maine ranks #1 for the percentage of its population over 65
Source: U.S. Census Bureau
At 17.9%, Maine ranks #2 lowest for the percentage of its population under 18
Source: U.S. Census Bureau
Maine’s workforce ranks #43 (#8th worst)*
Job Market
Maine job market ranks #45 (6th lowest), due to low wages, few job openings and few hires
Federal Dependency
At 41% of its total state revenue, Maine ranks #13 for most reliant on federal funds
Averaging +$6,267 per capita, Maine ranks #12 among states receiving more in federal funding than it pays in federal taxes.
