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These are the 20 fastest-growing US states over the last 50 years
These are the 20 fastest-growing US states over the last 50 years
Yusuf KhanJul 20, 2019, 14:30 IST
A worker uses an electronic screwdriver to install the motherboard on the reverse side of a 32-inch TV at Element Electronics in Winnsboro, South Carolina May 29, 2014. REUTERS/Chris Keane
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The US economy has been the world's largest economy for more than a century.
However, some US states have been growing much faster than others over the past 50 years.
Some states have benefited hugely from the tech boom, while others have suffered from declines in manufacturing jobs and other factors.
The United States may be the largest economy in the world, but some states have contributed more to its growth than others.
It's no secret that California is the nation's biggest economy, and it's no surprise that New York, one of the world's financial hubs, is also in the top three.
Here are the top 20 fastest-growing states in the US since 1963 by chained GDP, according to Saving Spot data.
We've also ranked the states by the size of their economies, in 1963 and today, to give a sense of their relative growth, and shown what are the largest sectors in each state according to MSN.
Over the last 50 years the island's economy has been one of the best performers in the US, outstripping those of Michigan and New Jersey to name a few. Hawaii's biggest industry is tourism, with 9.4 million visitors in 2017.
19. Delaware — 3289% (1963 ranking: 42 Now: 42)
Delaware has a large insurance sector, accounting for 15.1% of GDP in 2016.
18. Tennessee — 3380% (1963 ranking: 22 Now: 19)
Tennessee's largest industries are real estate and ambulance and health care services.
17. Maryland — 3437% (1963 ranking: 19 Now: 15)
Maryland is one of three US states where broadcasting and telecommunications is a bigger industry than real estate.
16. Oregon — 3539% (1963 ranking: 29 Now: 25)
Oregon's rise has stemmed from producing computers and electronics.
15. Idaho — 3540% (1963 ranking 43 Now: 41)
As part of America's bread basket, Idaho's biggest industry is farming. The state is known in particular for its potatoes.
14. California — 3699% (1963 ranking 2 Now: 1)
Despite being home to Hollywood and Silicon Valley, California doesn't even break the top 10, though it is the nation's largest state economy. Computer and electronic production is the state's biggest sector.
13. North Carolina — 3732% (1963 ranking 14 Now: 11)
Chemical manufacturing is North Carolina's biggest industry, but it has taken a hit in recent years.
12. South Carolina — 3842% (1963 ranking: 30 Now: 26)
With an older population than most other states, South Carolina's main sector is ambulatory services.
11. Virginia — 3868% (1963 ranking: 15 Now: 13)
Like South Carolina, ambulatory services is the biggest sector in Virginia.
10. Washington — 4205% (1963 ranking: 16 Now: 12)
The state of Washington is home to Microsoft, which employs 46,000 people. However, publishing is the biggest sector.
9. New Hampshire — 4406% (1963 ranking: 45 Now: 39)
New Hampshire's insurance industry has been a key driver of its growth in recent years.
8. Alaska — 4728% (1963 economy: 49 Now: 45)
Alaska's biggest industry is oil and gas, though it has declined in recent years.
7. Georgia — 4850% (1963 economy: 18 Now: 9)
Georgia's biggest sector is broadcasting, with companies such as CNN calling Atlanta home.
6. Utah — 4905% (1963 ranking: 37 Now: 31)
Utah's biggest sector is monetary authorities, as Utah is one of the few states where companies can legally set up industrial banks.
5. Colorado — 5456% (1963 ranking: 28 Now: 16)
Colorado, like Alaska, has fueled its growth through oil and gas extraction.
4. Texas — 5423% (1963 ranking: 7 Now: 2)
Texas is America's second-biggest economy, in no small part due to oil and gas, the state's largest sector.
3. Florida — 5914% (1963 ranking: 11 Now: 4)
The sunshine state attracts lots of retirees, contributing to the state's biggest sector: ambulatory services.
2. Arizona — 6530% (1963 ranking: 32 Now: 20)
Like Florida, Arizona's biggest sector is ambulatory services, helped by the fact that 17% of its residents are aged 65 or older.
1. Nevada — 7753% (1963 ranking: 44 Now: 33)
Nevada's economy has grown the fastest of all US states since 1963, in no small part due to Las Vegas' real-estate and casino boom. As a result of so many visitors coming to Vegas, tourism is the state's biggest sector.
Bonus: 45. New York — 1902% (1963 ranking: 1 Now: 3)
New York's economy may be one of the largest and the world's financial hub, but in terms of growth over the last 50 years it's actually been sluggish. But what it lacks in growth rate it makes up for in size. Its biggest sector is money and finance.
