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: 42

Comment

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

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

rlionhearted_3 posted photos
58 minutes ago
rlionhearted_3 favorited Doc Vega's photo
59 minutes ago
tjdavis posted a video

Alabama’s Biggest Secret - Operation Paperclip 🇺🇸

In the north of Alabama is the city of Huntsville. It's here where German scientists built NASA in secrecy after World War II. Operation Paperclip is still s...
4 hours ago
tjdavis posted a photo
6 hours ago
Doc Vega commented on Doc Vega's blog post Americans You’re Being Squeezed Out!
"Cheeki kea always nice to her you chime in and you're damn right! "
20 hours ago
Doc Vega commented on Doc Vega's blog post Americans You’re Being Squeezed Out!
"Les Prone thanks for your support Dude! "
20 hours ago
Doc Vega posted blog posts
20 hours ago
Doc Vega posted a photo

The inconvenient truth

Trump spells it out!
yesterday
Sandy posted a photo
yesterday
Less Prone favorited Doc Vega's blog post What Made the Founding Fathers of America so Brilliant?
yesterday
Less Prone commented on Doc Vega's blog post Why didn't the Archeological World Announce Proof that Jesus Lived?
"Motives of Joe, to shit in the well by showing totally irrelevant proof?"
yesterday
Doc Vega commented on Doc Vega's blog post Why didn't the Archeological World Announce Proof that Jesus Lived?
"Less, Motives of Wyatt or Joe? What archeologist wouldn't want proof of Jesus as part of his…"
yesterday
Doc Vega commented on Doc Vega's blog post Why didn't the Archeological World Announce Proof that Jesus Lived?
"Less Prone, Considering Joe Rogan to be the gatekeeper of anything is just short of ridiculous the…"
yesterday
MAC posted a video

Don't Go To Hong Kong Now (Even on Connecting Flights)

Secure your privacy with Surfshark! Enter coupon code laowhy86 for an extra 3 months free at https://Surfshark.deals/laowhy86Article 23 in Hong Kong is real,...
Tuesday
cheeki kea commented on cheeki kea's video
Thumbnail

Terrorist Attack on Moscow - Ukraine Committing Suicide? | Larry C. Johnson

"...And I guess I'll just park this you tube here also for something to ponder from last year.…"
Tuesday
tjdavis posted photos
Tuesday
Less Prone posted a video

Climate: The Movie (The Cold Truth) NL

Deze nieuwe documentaire van de Britse filmmaker Martin Durkin toont aan dat klimaatalarm een verzonnen doembeeld is zonder enige wetenschappelijke basis. He...
Monday
Less Prone commented on Doc Vega's blog post Why didn't the Archeological World Announce Proof that Jesus Lived?
"It can be true, but why isn't he offering real evidence? What are his motives?"
Monday
Less Prone favorited Doc Vega's blog post Americans You’re Being Squeezed Out!
Monday
cheeki kea favorited Less Prone's blog post Going against the stream of lies and death
Monday

© 2024   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