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The Most Profitable Industry in Every U.S. State

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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:

  1. Texas – Abundant oil supply helped the Lone Star State bring in more than $73 billion from mineral products last year.
  2. Washington – Despite a 9% drop from the previous year, aerospace still pulled in $42 billion for Washington state in 2017.
  3. California – Machinery and mechanical appliances lead the Golden State, to the tune of $27 billion.
  4. New York – Diamonds are New York’s best friend, where the precious metals and stones industry earned more than $25 billion in export sales.
  5. 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:

StateMost Profitable IndustryValue of industry's top-selling products (2017)
AlabamaAutomotive$8 billion
AlaskaFishing$2.359 billion
ArizonaMachinery and Mechanical Appliances$4.27 billion
ArkansasAerospace$1.5 billion
CaliforniaMachinery and Mechanical Appliances$27 billion
ColoradoMeat$1 billion
ConnecticutAerospace$5.627 billion
DelawareAutomotive$858 million
FloridaMachinery and Mechanical Appliances$7.576 billion
GeorgiaAerospace$6.694 billion
HawaiiAerospace$370 million
IdahoMachinery and Mechanical Appliances$1.309 billion
IllinoisMachinery and Mechanical Appliances$5.7 billion
IndianaAutomotive$7.526 billion
IowaMeat$1.324 billion
KansasAerospace$2.565 billion
KentuckyAerospace$11.649 billion
LouisianaMineral Products$23 billion
MaineFishing$431 million
MarylandAerospace$814 million
MassachusettsPrecision Instruments$3.2 billion
MichiganAutomotive$22.735 billion
MinnesotaPrecision Instruments$2.417 billion
MississippiMineral Products$3.076 billion
MissouriAutomotive$2.234 billion
MontanaMineral Products$256 million
NebraskaMeat$1.52 billion
NevadaAccommodation and Food Services$20 billion
New HampshireMachinery and Mechanical Appliances$1.685 billion
New JerseyPrecious Metals, Stones, etc.$2.624 billion
New MexicoMachinery and Mechanical Appliances$1.835 billion
New YorkPrecious Metals, Stones, etc.$25 billion
North CarolinaMedical$3.698 billion
North DakotaMineral Products$1.814 billion
OhioAutomotive$6 billion
OklahomaMachinery and Mechanical Appliances$1.1 billion
OregonMachinery and Mechanical Appliances$10.125 billion
PennsylvaniaMineral Products$3.672 billion
Rhode IslandPrecious Metals, Stones, etc.$670 million
South CarolinaAutomotive$10.107 billion
South DakotaMeat$223 million
TennesseePrecision Instruments$3.425 billion
TexasMineral Products$73 billion
UtahPrecious Metals, Stones, etc.$3.714 billion
VermontMachinery and Mechanical Appliances$1.6 billion
VirginiaMachinery and Mechanical Appliances$1.5 billion
WashingtonAerospace$42.163 billion
West VirginiaMineral Products$3.261 billion
WisconsinMachinery and Mechanical Appliances$1.538 billion
WyomingChemicals and Allied Industries$1.25 billion

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