SEE WHICH INDUSTRY DOMINATES YOUR STATE’S ECONOMY

Diversification is a broadly accepted investment strategy designed to hedge against risk. If you invest all your money in one company or one industry, you flirt with disaster during an economic downturn. Does the US have a diverse economy? Our new map reveals that the answer is both yes and no.

We found the numbers for our visualization from GoBankingRates, which analyzed 2017 US Census Bureau data to determine the value of each industry’s products. They defined industries using Harmonized System (HS) codes from the World Customs Organization. We color-coded each state based on its most lucrative sector, and we added a nice logo and the dollar amount for easy reference. The output is an intuitive map with a few surprising, and a few predictable, results.

Let’s start by pointing out the industries you might expect to predominate in certain states. Michigan, Ohio, and Indiana significantly benefit from car manufacturing in and around the Motor City. South Carolina and Alabama also stand out as states with a strong automotive presence since they are destinations for in-sourcing as car makers look for cheaper (non-unionized) labor. A few states surrounding Nebraska are major meat producers, which shouldn’t catch anyone by surprise, given the region’s strong agricultural bent. Alaska and Maine likewise benefit from a substantial fishing industry. Nevada is the only state where the most profitable industry involves accommodations and food service. Viva Las Vegas!

 

There are a number of surprises on our map, too. Who knew that the most profitable industry in Kansas is aerospace ($2.6B)? The same goes for Arkansas, Georgia, and Kentucky. Or that Wyoming generates more business for chemical companies ($951B) than any other state? And take a look at all the states colored purple, where machinery and mechanical appliances predominate—who knew that Florida, Idaho, and Illinois have so much in common?

The overarching takeaway from our map is a little unnerving. We read all the time about how diversification is the best guard against risk. And based on our map, the US economy is diverse in some regions but not very diverse in others. In fact, 27 out of 50 US states are led by only three industries (machinery, aerospace, and mineral products), accounting for just under $1.7T in value. That means that when certain segments undergo technological disruption or economic downturns, it can disproportionately impact sections of the country in ways people don’t expect.

Data: Table 1.1

SHARE THIS ARTICLE...

Views: 36

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

TOP CONTENT THIS WEEK

Latest Activity

Chris of the family Masters favorited James Roberts's photo
11 minutes ago
Chris of the family Masters posted a discussion
26 minutes ago
Phyllis Maka commented on Phyllis Maka's blog post EU is Out. UK Brexit 31st Oct 2019. Marie Le Penn for France. Matteo Salvini for Italy. Trump for America. Obrador for Mexico.... 'donkeys' for NZ
"Yes the Vatican uses the dark spiritual entities outside of the human perception to keep tabs on…"
53 minutes ago
Chris of the family Masters favorited Phyllis Maka's blog post Earth is being held in isolation....
1 hour ago
Chris of the family Masters commented on Phyllis Maka's blog post EU is Out. UK Brexit 31st Oct 2019. Marie Le Penn for France. Matteo Salvini for Italy. Trump for America. Obrador for Mexico.... 'donkeys' for NZ
"When EU is out, NWO is out..."
1 hour ago
Chris of the family Masters favorited Phyllis Maka's blog post EU is Out. UK Brexit 31st Oct 2019. Marie Le Penn for France. Matteo Salvini for Italy. Trump for America. Obrador for Mexico.... 'donkeys' for NZ
1 hour ago
Phyllis Maka posted blog posts
2 hours ago
the mighty bull commented on Boris's page video - @MrAndyNgo : Today's Portland antifa vs. right-wing protests have the potential to be a powder keg.
"I remember them cunts they came to my place and wrecked the  special maori land war day the…"
2 hours ago
Raz Putin replied to Raz Putin's discussion JudicialCorruptionNews:"JEFFREY EPSTEIN’S “DEATH” PRESUMES A “PSYOPS” THAT SAYS HE’S ALIVE"
"Thanks Diana"
3 hours ago
Raz Putin commented on Phyllis Maka's blog post EU is Out. UK Brexit 31st Oct 2019. Marie Le Penn for France. Matteo Salvini for Italy. Trump for America. Obrador for Mexico.... 'donkeys' for NZ
"Lines are drawn globally speaking. Kashmir conflict Pakistan v India Hong Kong (USA) v China USA…"
3 hours ago
Raz Putin favorited Phyllis Maka's blog post EU is Out. UK Brexit 31st Oct 2019. Marie Le Penn for France. Matteo Salvini for Italy. Trump for America. Obrador for Mexico.... 'donkeys' for NZ
3 hours ago
the mighty bull posted videos
4 hours ago
Mrs. Tif Morgan replied to Mrs. Tif Morgan's discussion Federal Judge Who Oversaw Release Of Jeffrey Epstein’s Sealed Records Was Found Dead
" Yep, know when he died, its kind of strange that so many involved in exposing the sex…"
4 hours ago
James Roberts posted photos
4 hours ago
Citizen Quasar commented on Boris's page video - @MrAndyNgo : Today's Portland antifa vs. right-wing protests have the potential to be a powder keg.
"I think the best way to handle this ANTIFA scum is to shoot them dead in America's streets.…"
6 hours ago
Chris of the family Masters commented on Phyllis Maka's blog post THE MIRACLE OF LIFE EXTENSION TECH WAS BURIED - Jim Stone
"When you work out on empty stomach in the morning, HGH production in the body increases by 400%"
6 hours ago

© 2019   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted