Business, technology, markets and policy analysis from the United States
American Business by State

US Business by State: 50 State Economy Profiles

Explore all 50 states through the industries, business centres and economic characteristics that shape where American companies hire, invest, manufacture and grow. These profiles use federal population, employment, GDP and small-business sources alongside American Commerce Review research.

AL

Alabama

Alabama's modern business story is increasingly split between Huntsville's aerospace and defence economy, Birmingham's services base and a vehicle-manufacturing corridor tied into the wider Southeast supply chain.

Population: 5.19 million · Largest city: Huntsville

AK

Alaska

Alaska is an unusually resource- and logistics-dependent economy. Distance, energy, fisheries and federal activity shape business decisions more directly here than in almost any other state.

Population: 737,000 · Largest city: Anchorage

AZ

Arizona

Arizona has become one of the clearest examples of industrial investment following population growth, with semiconductor fabs, suppliers and data infrastructure adding to Phoenix's long-standing construction and services boom.

Population: 7.62 million · Largest city: Phoenix

AR

Arkansas

Northwest Arkansas gives the state an outsized corporate footprint for its population, while logistics, food production and supplier networks connect much of the economy to large national retailers and consumer brands.

Population: 3.11 million · Largest city: Little Rock

CA

California

California combines the country's deepest technology cluster with entertainment, life sciences, aerospace, agriculture and two of its largest trade gateways. Few states contain so many distinct business ecosystems under one economy.

Population: 39.36 million · Largest city: Los Angeles

CO

Colorado

Colorado's economy is unusually balanced between Denver's corporate base, Boulder's technology and research community, Colorado Springs' defence presence and a large outdoor and tourism sector.

Population: 6.01 million · Largest city: Denver

CT

Connecticut

Connecticut remains one of America's most specialised insurance economies, while Stamford's finance and corporate base and the New Haven research corridor give the state a broader high-skill business profile.

Population: 3.69 million · Largest city: Bridgeport

DE

Delaware

Delaware's population is small, but its role in US corporate law makes it nationally important. The state's business identity is shaped as much by incorporation and financial services as by the companies physically operating there.

Population: 1.06 million · Largest city: Wilmington

FL

Florida

Florida is no longer well described as a tourism economy alone. Migration has expanded construction, healthcare, finance and professional services, while Miami, Tampa, Orlando and Jacksonville have developed very different business specialisms.

Population: 23.46 million · Largest city: Jacksonville

GA

Georgia

Atlanta is one of the Southeast's most important corporate and logistics centres, while Savannah's port and a growing manufacturing corridor give Georgia unusual strength across both services and physical trade.

Population: 11.30 million · Largest city: Atlanta

HI

Hawaii

Hawaii's isolation changes the economics of almost every sector. Tourism dominates demand, but defence spending, transport costs, land constraints and dependence on imported goods make the state's operating environment distinctive.

Population: 1.43 million · Largest city: Honolulu

ID

Idaho

Boise has become a meaningful semiconductor and technology centre while Idaho's traditional food, agriculture and manufacturing base remains important. Rapid population growth has added another layer through housing and services.

Population: 2.03 million · Largest city: Boise

IL

Illinois

Chicago gives Illinois one of the country's deepest concentrations of finance, trading, professional services and transportation, while the rest of the state retains a substantial industrial and agricultural economy.

Population: 12.72 million · Largest city: Chicago

IN

Indiana

Indiana is one of the most manufacturing-intensive large states, but Indianapolis also gives it a strong life-sciences, healthcare and logistics base that broadens the economy beyond factories.

Population: 6.97 million · Largest city: Indianapolis

IA

Iowa

Iowa pairs a large agricultural economy with one of the Midwest's strongest insurance centres in Des Moines. Cheap land, power availability and renewable generation have also made the state attractive for data infrastructure.

Population: 3.24 million · Largest city: Des Moines

KS

Kansas

Wichita's aircraft cluster gives Kansas an aerospace specialism that is unusually large relative to the state's population, while agriculture, food production and the Kansas City logistics economy provide the other major pillars.

Population: 2.98 million · Largest city: Wichita

KY

Kentucky

Kentucky sits at an important point in the eastern US logistics network. Louisville's air-cargo role, automotive production and the state's globally recognised bourbon industry create a mix that is more export-oriented than its size might suggest.

Population: 4.61 million · Largest city: Louisville

LA

Louisiana

Louisiana's economy is tied closely to the Mississippi River, Gulf Coast energy and one of America's largest port systems. Industrial projects can be enormous, but the state is also unusually exposed to commodity cycles and weather risk.

Population: 4.62 million · Largest city: New Orleans

ME

Maine

Maine's business base is dominated by smaller employers, with Portland acting as the state's main services centre. Tourism, seafood and forest products remain economically important alongside healthcare and professional services.

Population: 1.41 million · Largest city: Portland

MD

Maryland

Maryland's proximity to Washington, D.C. makes federal research, contracting and cybersecurity unusually important. The state also benefits from a dense life-sciences corridor around Bethesda, Rockville and Baltimore.

Population: 6.27 million · Largest city: Baltimore

MA

Massachusetts

Massachusetts is one of the country's most research-intensive economies. The Boston-Cambridge cluster links universities, hospitals, venture capital, biotechnology and software in a way few other regions can match.

Population: 7.15 million · Largest city: Boston

MI

Michigan

Michigan's automotive identity still matters, but the modern cluster includes batteries, software, autonomous systems and advanced engineering. Grand Rapids and Ann Arbor add healthcare, research and a more diversified corporate base.

Population: 10.13 million · Largest city: Detroit

MN

Minnesota

Minnesota has an unusually dense collection of large corporate headquarters for its population. Medical technology, healthcare, consumer brands, finance and food businesses make the Twin Cities economy notably diversified.

Population: 5.83 million · Largest city: Minneapolis

MS

Mississippi

Mississippi's business economy is more industrial than it is often portrayed, with shipbuilding on the Gulf Coast and automotive and aerospace manufacturing complementing agriculture and food production.

Population: 2.95 million · Largest city: Jackson

MO

Missouri

Missouri effectively contains two large business economies: St. Louis, with healthcare, bioscience and aerospace strengths, and Kansas City, with finance, logistics, engineering and food-related industries.

Population: 6.27 million · Largest city: Kansas City

MT

Montana

Montana's small-business share is among the highest in the country. Bozeman has developed a notable technology and startup scene, but tourism, agriculture and resource industries still shape much of the statewide economy.

Population: 1.14 million · Largest city: Billings

NE

Nebraska

Omaha gives Nebraska a finance, insurance and transportation base that is unusually large for a state of two million people, while Lincoln adds government, education and a growing technology community.

Population: 2.02 million · Largest city: Omaha

NV

Nevada

Nevada is diversifying beyond hospitality. Reno's logistics and manufacturing corridor and the state's power and land profile have attracted data infrastructure and industrial investment, while Las Vegas remains the dominant demand engine.

Population: 3.28 million · Largest city: Las Vegas

NH

New Hampshire

New Hampshire benefits from its place inside the wider Boston economy while maintaining a distinct manufacturing and technology base. Southern New Hampshire is especially integrated into Massachusetts labour and supplier markets.

Population: 1.42 million · Largest city: Manchester

NJ

New Jersey

New Jersey combines a major pharmaceutical and life-sciences base with access to both New York and Philadelphia. Its ports, highways and dense population also make logistics and distribution unusually important.

Population: 9.55 million · Largest city: Newark

NM

New Mexico

Federal laboratories and research facilities give New Mexico a scientific and defence footprint far larger than its population suggests. The challenge is converting that research base into a broader private-sector company ecosystem.

Population: 2.13 million · Largest city: Albuquerque

NY

New York

New York's economy is dominated by the scale of New York City, but upstate manufacturing, semiconductors, optics and research create a second business story that is easy to miss in statewide comparisons.

Population: 20.00 million · Largest city: New York City

NC

North Carolina

North Carolina combines Charlotte's banking centre with the Research Triangle's software, biotech and university ecosystem. That combination has made it one of the most diversified growth states in the Southeast.

Population: 11.20 million · Largest city: Charlotte

ND

North Dakota

North Dakota's economy is small but unusually sensitive to energy and agriculture. Fargo provides a more diversified technology and services base, while the state has also developed a niche in unmanned aviation research.

Population: 799,000 · Largest city: Fargo

OH

Ohio

Ohio's strength is breadth. Columbus is growing as a finance, technology and logistics centre, while Cleveland, Cincinnati and Dayton anchor healthcare, consumer products, manufacturing and aerospace supply chains.

Population: 11.90 million · Largest city: Columbus

OK

Oklahoma

Oklahoma remains closely tied to energy, but Tulsa and Oklahoma City have built significant aerospace, defence and business-services clusters. The state's central location also supports manufacturing and distribution.

Population: 4.12 million · Largest city: Oklahoma City

OR

Oregon

Oregon has one of America's most important semiconductor manufacturing clusters around Hillsboro. Portland also combines software, design and consumer brands with the state's older timber, food and industrial base.

Population: 4.27 million · Largest city: Portland

PA

Pennsylvania

Pennsylvania is another two-centre economy: Philadelphia leans toward healthcare, life sciences and finance, while Pittsburgh has reinvented part of its industrial base around robotics, software, healthcare and advanced manufacturing.

Population: 13.06 million · Largest city: Philadelphia

RI

Rhode Island

Rhode Island's small size makes it closely integrated with the wider New England economy. Providence's universities, healthcare institutions and design community give the state a service-heavy profile with specialist marine industries.

Population: 1.11 million · Largest city: Providence

SC

South Carolina

South Carolina has become a major export-manufacturing state. The Greenville-Spartanburg automotive cluster and Charleston's aerospace and port economy make international trade unusually central to the state's growth model.

Population: 5.57 million · Largest city: Charleston

SD

South Dakota

Sioux Falls has developed a financial-services and healthcare economy that is large relative to the state's population, while agriculture and tourism remain central outside the southeast.

Population: 935,000 · Largest city: Sioux Falls

TN

Tennessee

Tennessee's major cities have unusually different roles: Nashville is a healthcare and entertainment centre, Memphis is a logistics hub, and the eastern part of the state has built substantial automotive and advanced-manufacturing capacity.

Population: 7.32 million · Largest city: Nashville

TX

Texas

Texas combines several business economies at national scale. Houston leads energy, Dallas-Fort Worth spans finance and corporate services, Austin is a technology and semiconductor centre, and San Antonio adds healthcare, cybersecurity and defence.

Population: 31.71 million · Largest city: Houston

UT

Utah

Utah has one of the country's most recognisable mid-sized technology corridors, stretching from Salt Lake City toward Provo. Fast population growth and a young workforce have supported both software and financial-services expansion.

Population: 3.54 million · Largest city: Salt Lake City

VT

Vermont

Vermont's economy is dominated by smaller employers and local businesses. Burlington provides the main technology, healthcare and education centre, while specialty food, tourism and manufacturing remain important statewide.

Population: 645,000 · Largest city: Burlington

VA

Virginia

Northern Virginia is one of the country's most important federal-contracting and data-centre markets. Richmond adds finance and corporate services, while Hampton Roads anchors defence, ports and shipbuilding.

Population: 8.88 million · Largest city: Virginia Beach

WA

Washington

Washington's economy is unusually concentrated in globally scaled technology, ecommerce and aerospace companies. Seattle and the Eastside also form one of the country's deepest cloud-computing talent markets.

Population: 8.00 million · Largest city: Seattle

WV

West Virginia

West Virginia is working from an economy historically shaped by coal and chemicals toward a broader mix that includes healthcare, advanced manufacturing and federally linked services, particularly around Morgantown.

Population: 1.77 million · Largest city: Charleston

WI

Wisconsin

Wisconsin combines one of the country's strongest manufacturing traditions with Madison's research, healthcare and technology economy. Food production remains important, but the state's industrial base is much broader than dairy.

Population: 5.97 million · Largest city: Milwaukee

WY

Wyoming

Wyoming is the least populous state, so large energy and mining projects can have an outsized effect on statewide output. Tourism and public lands shape the western part of the economy, while Cheyenne has attracted some data infrastructure.

Population: 589,000 · Largest city: Cheyenne