Maps
The Most Profitable Industry in Every U.S. State
The Most Profitable Industry in Every U.S. State
A glance the leading industries in the U.S. reveals a few surprises – and less diversity than you might think.
Today’s graphic from HowMuch.net uses data from GO Banking Rates and the U.S. Census Bureau to map out the most profitable industry in each U.S. State.
A Unique State Identity
While each U.S. state is unique in its cultural identity, the lay of the land determines which industries will thrive. Where some regions are ideal for agriculture, others have built a strong foundation of industry and research, and still others have established themselves as tourism hubs.
Whatever industry has staked its claim in your particular state, it has a direct link to your state exports and local economy.
It’s important to note that the most profitable industry is not necessarily the biggest industry in each state. The following figures are based on the value of top-selling industry products in 2017, using Harmonized System (HS) codes and U.S. Census Bureau data.
Rounding out the top five:
- Texas – Abundant oil supply helped the Lone Star State bring in more than $73 billion from mineral products last year.
- Washington – Despite a 9% drop from the previous year, aerospace still pulled in $42 billion for Washington state in 2017.
- California – Machinery and mechanical appliances lead the Golden State, to the tune of $27 billion.
- New York – Diamonds are New York’s best friend, where the precious metals and stones industry earned more than $25 billion in export sales.
- Louisiana – Its proximity to the Gulf of Mexico makes Louisiana a hub for mineral products, particularly oil. The industry raked in more than $23 billion in exports last year.
Diversify and Conquer
While some of these designations are nearly automatic – like fishing in Maine and Alaska – others are more surprising. Most surprising of all is the variety, or lack thereof: 50 states share a mere 11 major industries. When those industries are touched by market volatility or trade disruptions, it can prompt a ripple effect across several state economies.
Here’s a detailed breakdown of each state’s major industry, and the value of top-selling products last year:
State | Most Profitable Industry | Value of industry's top-selling products (2017) |
---|---|---|
Alabama | Automotive | $8 billion |
Alaska | Fishing | $2.359 billion |
Arizona | Machinery and Mechanical Appliances | $4.27 billion |
Arkansas | Aerospace | $1.5 billion |
California | Machinery and Mechanical Appliances | $27 billion |
Colorado | Meat | $1 billion |
Connecticut | Aerospace | $5.627 billion |
Delaware | Automotive | $858 million |
Florida | Machinery and Mechanical Appliances | $7.576 billion |
Georgia | Aerospace | $6.694 billion |
Hawaii | Aerospace | $370 million |
Idaho | Machinery and Mechanical Appliances | $1.309 billion |
Illinois | Machinery and Mechanical Appliances | $5.7 billion |
Indiana | Automotive | $7.526 billion |
Iowa | Meat | $1.324 billion |
Kansas | Aerospace | $2.565 billion |
Kentucky | Aerospace | $11.649 billion |
Louisiana | Mineral Products | $23 billion |
Maine | Fishing | $431 million |
Maryland | Aerospace | $814 million |
Massachusetts | Precision Instruments | $3.2 billion |
Michigan | Automotive | $22.735 billion |
Minnesota | Precision Instruments | $2.417 billion |
Mississippi | Mineral Products | $3.076 billion |
Missouri | Automotive | $2.234 billion |
Montana | Mineral Products | $256 million |
Nebraska | Meat | $1.52 billion |
Nevada | Accommodation and Food Services | $20 billion |
New Hampshire | Machinery and Mechanical Appliances | $1.685 billion |
New Jersey | Precious Metals, Stones, etc. | $2.624 billion |
New Mexico | Machinery and Mechanical Appliances | $1.835 billion |
New York | Precious Metals, Stones, etc. | $25 billion |
North Carolina | Medical | $3.698 billion |
North Dakota | Mineral Products | $1.814 billion |
Ohio | Automotive | $6 billion |
Oklahoma | Machinery and Mechanical Appliances | $1.1 billion |
Oregon | Machinery and Mechanical Appliances | $10.125 billion |
Pennsylvania | Mineral Products | $3.672 billion |
Rhode Island | Precious Metals, Stones, etc. | $670 million |
South Carolina | Automotive | $10.107 billion |
South Dakota | Meat | $223 million |
Tennessee | Precision Instruments | $3.425 billion |
Texas | Mineral Products | $73 billion |
Utah | Precious Metals, Stones, etc. | $3.714 billion |
Vermont | Machinery and Mechanical Appliances | $1.6 billion |
Virginia | Machinery and Mechanical Appliances | $1.5 billion |
Washington | Aerospace | $42.163 billion |
West Virginia | Mineral Products | $3.261 billion |
Wisconsin | Machinery and Mechanical Appliances | $1.538 billion |
Wyoming | Chemicals and Allied Industries | $1.25 billion |
United States
Mapped: How Much Does it Take to be the Top 1% in Each U.S. State?
An annual income anywhere between $360,000-$950,000 can grant entry into the top 1%—depending on where you live in America.

How Much Does it Take to be the Top 1% in Each U.S. State?
There’s an old saying: everyone thinks that they’re middle-class.
But how many people think, or know, that they really belong to the top 1% in the country?
Data from personal finance advisory services company, SmartAsset, reveals the annual income threshold at which a household can be considered part of the top 1% in their state.
Some states demand a much higher yearly earnings from their residents to be a part of the rarefied league, but which ones are they, and how much does one need to earn to make it to the very top echelon of income?
Ranking U.S. States By Income to Be in the Top 1%
At the top of the list, a household in Connecticut needs to earn nearly $953,000 annually to be part of the one-percenters. This is the highest minimum threshold across the country.
In the same region, Massachusetts requires a minimum annual earnings of $903,401 from its top 1% residents.
Here’s the list of all 50 U.S. states along with the annual income needed to be in the 1%.
Rank | State | Top 1% Income Threshold | Top 1% Tax Rate (% of annual income) |
---|---|---|---|
1 | Connecticut | $952,902 | 28.40% |
2 | Massachusetts | $903,401 | 27.15% |
3 | California | $844,266 | 26.95% |
4 | New Jersey | $817,346 | 28.01% |
5 | Washington | $804,853 | 25.99% |
6 | New York | $776,662 | 28.29% |
7 | Colorado | $709,092 | 25.86% |
8 | Florida | $694,987 | 25.82% |
9 | Illinois | $660,810 | 26.35% |
10 | New Hampshire | $659,037 | 26.25% |
11 | Wyoming | $656,118 | 24.79% |
12 | Virginia | $643,848 | 26.11% |
N/A | National Average | $652,657 | N/A |
13 | Maryland | $633,333 | 25.94% |
14 | Texas | $631,849 | 25.83% |
15 | Utah | $630,544 | 23.77% |
16 | Minnesota | $626,451 | 25.53% |
17 | Nevada | $603,751 | 25.19% |
18 | South Dakota | $590,373 | 22.99% |
19 | Pennsylvania | $588,702 | 24.95% |
20 | North Dakota | $585,556 | 24.76% |
21 | Georgia | $585,397 | 25.06% |
22 | Oregon | $571,813 | 24.66% |
23 | Arizona | $564,031 | 25.22% |
24 | Idaho | $560,040 | 23.17% |
25 | North Carolina | $559,762 | 25.31% |
26 | Montana | $559,656 | 24.46% |
27 | Kansas | $554,912 | 25.03% |
28 | Rhode Island | $548,531 | 25.26% |
29 | Tennessee | $548,329 | 25.12% |
30 | Alaska | $542,824 | 25.38% |
31 | Nebraska | $535,651 | 24.10% |
32 | Delaware | $529,928 | 25.37% |
33 | Vermont | $518,039 | 23.63% |
34 | Wisconsin | $517,321 | 24.90% |
35 | South Carolina | $508,427 | 24.40% |
36 | Michigan | $504,671 | 25.01% |
37 | Maine | $502,605 | 24.04% |
38 | Missouri | $500,626 | 24.93% |
39 | Ohio | $500,253 | 25.09% |
40 | Hawaii | $495,263 | 24.12% |
41 | Iowa | $483,985 | 24.09% |
42 | Indiana | $473,685 | 24.55% |
43 | Alabama | $470,341 | 23.82% |
44 | Oklahoma | $460,172 | 23.68% |
45 | Louisiana | $458,269 | 24.80% |
46 | Arkansas | $450,700 | 21.11% |
47 | Kentucky | $445,294 | 24.14% |
48 | New Mexico | $411,395 | 23.35% |
49 | Mississippi | $381,919 | 23.04% |
50 | West Virginia | $367,582 | 23.26% |
N/A | National Median Household Income | $75,000 | N/A |
California ($844,266), New Jersey ($817,346), and Washington ($804,853) round out the top five states with the highest minimum thresholds to make it to their exclusive rich club.
On the other end of the spectrum, the top one-percenters in West Virginia make a minimum of $367,582 a year, the lowest of all the states, and about one-third of the threshold in Connecticut. And just down southwest of the Mountain State, Mississippi’s one-percenters need to make at least $381,919 a year to qualify for the 1%.
A quick glance at the map above also reveals some regional insights.
The Northeast and West Coast, with their large urban and economic hubs, have higher income entry requirements for the top 1% than states in the American South.
This also correlates to the median income by state, a measure showing Massachusetts households make nearly $90,000 a year, compared to Mississippians who take home $49,000 annually.
How Much Do the Top 1% Pay in Taxes?
Meanwhile, if one does make it to the top 1% in states like Connecticut and Massachusetts, expect to pay more in taxes than other states, according to SmartAsset’s analysis.
The one-percenters in the top five states pay, on average, between 26–28% of their income in tax, compared to those in the bottom five who pay between 21–23%.
And this pattern exists through the dataset, with higher top 1% income thresholds correlating with higher average tax rates for the wealthy.
State Ranks | Median Tax Rate |
---|---|
Top 10 | 26.65% |
20-30 | 25.09% |
30-40 | 24.65% |
10-20 | 25.07% |
40-50 | 23.75% |
These higher tax rates point to attempts to reign in the increasing wealth disparity in the nation where the top 1% hold more than one-third of the country’s wealth, up from 27% in 1989.
Where Does This Data Come From?
Source: SmartAsset’s America’s Top 1% Is Different in Each State uses data from 2020 individual tax filings from the IRS, adjusted to 2023 dollars using the Bureau of Labor Statistics’ Consumer Price Index.
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