The Fastest-Growing Industry in Every State

Editor’s Note: This story originally appeared on https://filterbuy.com/resources/fastest-growing-industry-in-every-state/”>Filterbuy.

Economic pundits are increasingly predicting that the U.S. is headed toward recession — if the economy is not in one already. Unemployment remains at historic lows, but heightened inflation over the last year has increased the cost of nearly everything for businesses and consumers alike. With the U.S. Federal Reserve hiking interest rates to slow inflation, most experts forecast slower or negative GDP growth this year.

A potential recession could mark the end of a decade-plus of upward GDP growth. In the Great Recession, GDP bottomed out at $18.4 trillion in the second quarter of 2009. Since then, inflation-adjusted GDP has grown by more than 30% overall to $23.9 trillion, even after the COVID-19 pandemic.

One factor in the U.S. economy’s strong growth in recent years, even in the wake of the pandemic, has been an explosion of activity in the information sector. Powered by a wave of tech and media startups and continued growth among established players like Apple, Amazon, and Google, the industry has experienced 50% growth over the last five years and now is responsible for $1.3 trillion of GDP annually.

But each state’s economy looks different in terms of growth trajectory and key industries. A total of 48 states have experienced GDP growth over the last five years, and the industries leading that growth varies substantially across locations.

Filterbuy analyzed data from the U.S. Bureau of Economic Analysis’ Gross Domestic Product data. Researchers looked at industries with the greatest change between 2016 and 2021, and all data was adjusted for inflation to 2021 dollars.

Here are the fastest-growing industries in every state.

Alabama

• Industry: Information
• Industry-specific percentage change in real GDP: +34.9%
• Industry-specific total change in real GDP: +$1,969,566,123
• State percentage change in real GDP: +7.1%
• State total change in real GDP: +$14,185,899,189

Alaska

• Industry: Management of companies and enterprises
• Industry-specific percentage change in real GDP: +11.0%
• Industry-specific total change in real GDP: +$47,440,421
• State percentage change in real GDP: -7.7%
• State total change in real GDP: -$4,121,371,408

Arizona

• Industry: Information
• Industry-specific percentage change in real GDP: +55.6%
• Industry-specific total change in real GDP: +$8,128,206,352
• State percentage change in real GDP: +18.6%
• State total change in real GDP: +$58,344,316,639

Arkansas

• Industry: Management of companies and enterprises
• Industry-specific percentage change in real GDP: +42.4%
• Industry-specific total change in real GDP: +$2,788,671,704
• State percentage change in real GDP: +8.0%
• State total change in real GDP: +$9,697,380,175

California

• Industry: Information
• Industry-specific percentage change in real GDP: +67.5%
• Industry-specific total change in real GDP: +$212,601,880,757
• State percentage change in real GDP: +22.3%
• State total change in real GDP: +$588,186,359,173

Colorado

• Industry: Management of companies and enterprises
• Industry-specific percentage change in real GDP: +58.9%
• Industry-specific total change in real GDP: +$4,573,814,707
• State percentage change in real GDP: +15.9%
• State total change in real GDP: +$55,396,337,332

Connecticut

• Industry: Information
• Industry-specific percentage change in real GDP: +31.7%
• Industry-specific total change in real GDP: +$6,116,053,048
• State percentage change in real GDP: +3.8%
• State total change in real GDP: +$10,075,811,564

Delaware

• Industry: Administrative and support and waste management and remediation services
• Industry-specific percentage change in real GDP: +32.9%
• Industry-specific total change in real GDP: +$590,153,984
• State percentage change in real GDP: +5.5%
• State total change in real GDP: +$3,734,689,511

Florida

• Industry: Management of companies and enterprises
• Industry-specific percentage change in real GDP: +51.5%
• Industry-specific total change in real GDP: +$9,485,414,918
• State percentage change in real GDP: +17.7%
• State total change in real GDP: +$170,879,789,787

Georgia

• Industry: Management of companies and enterprises
• Industry-specific percentage change in real GDP: +70.0%
• Industry-specific total change in real GDP: +$8,731,949,408
• State percentage change in real GDP: +14.1%
• State total change in real GDP: +$77,870,963,786

Hawaii

• Industry: Information
• Industry-specific percentage change in real GDP: +30.7%
• Industry-specific total change in real GDP: +$747,520,291
• State percentage change in real GDP: -1.6%
• State total change in real GDP: -$1,167,689,544

Idaho

• Industry: Management of companies and enterprises
• Industry-specific percentage change in real GDP: +88.8%
• Industry-specific total change in real GDP: +$644,024,948
• State percentage change in real GDP: +22.3%
• State total change in real GDP: +$15,459,753,358

Illinois

• Industry: Agriculture, forestry, fishing, and hunting
• Industry-specific percentage change in real GDP: +48.1%
• Industry-specific total change in real GDP: +$4,594,076,984
• State percentage change in real GDP: +4.9%
• State total change in real GDP: +$40,880,175,161

Indiana

• Industry: Management of companies and enterprises
• Industry-specific percentage change in real GDP: +31.2%
• Industry-specific total change in real GDP: +$1,744,254,456
• State percentage change in real GDP: +10.8%
• State total change in real GDP: +$38,618,807,983

Iowa

• Industry: Agriculture, forestry, fishing, and hunting
• Industry-specific percentage change in real GDP: +64.0%
• Industry-specific total change in real GDP: +$7,986,006,420
• State percentage change in real GDP: +6.0%
• State total change in real GDP: +$11,087,954,766

Kansas

• Industry: Administrative and support and waste management and remediation services
• Industry-specific percentage change in real GDP: +29.4%
• Industry-specific total change in real GDP: +$1,519,670,775
• State percentage change in real GDP: +5.6%
• State total change in real GDP: +$9,373,669,067

Kentucky

• Industry: Management of companies and enterprises
• Industry-specific percentage change in real GDP: +24.7%
• Industry-specific total change in real GDP: +$820,440,222
• State percentage change in real GDP: +7.3%
• State total change in real GDP: +$14,340,110,890

Louisiana

• Industry: Administrative and support and waste management and remediation services
• Industry-specific percentage change in real GDP: +23.4%
• Industry-specific total change in real GDP: +$1,564,684,576
• State percentage change in real GDP: +0.3%
• State total change in real GDP: +$854,898,226

Maine

• Industry: Management of companies and enterprises
• Industry-specific percentage change in real GDP: +82.7%
• Industry-specific total change in real GDP: +$1,137,478,125
• State percentage change in real GDP: +13.6%
• State total change in real GDP: +$7,997,168,872

Maryland

• Industry: Management of companies and enterprises
• Industry-specific percentage change in real GDP: +36.4%
• Industry-specific total change in real GDP: +$1,823,240,937
• State percentage change in real GDP: +0.1%
• State total change in real GDP: +$444,192,791

Massachusetts

• Industry: Information
• Industry-specific percentage change in real GDP: +61.9%
• Industry-specific total change in real GDP: +$21,405,821,675
• State percentage change in real GDP: +15.5%
• State total change in real GDP: +$80,866,626,176

Michigan

• Industry: Management of companies and enterprises
• Industry-specific percentage change in real GDP: +41.3%
• Industry-specific total change in real GDP: +$5,019,827,463
• State percentage change in real GDP: +6.6%
• State total change in real GDP: +$32,960,900,791

Minnesota

• Industry: Management of companies and enterprises
• Industry-specific percentage change in real GDP: +35.7%
• Industry-specific total change in real GDP: +$5,482,705,228
• State percentage change in real GDP: +8.2%
• State total change in real GDP: +$29,372,293,804

Mississippi

• Industry: Agriculture, forestry, fishing, and hunting
• Industry-specific percentage change in real GDP: +33.7%
• Industry-specific total change in real GDP: +$943,227,194
• State percentage change in real GDP: +5.1%
• State total change in real GDP: +$5,213,835,732

Missouri

• Industry: Agriculture, forestry, fishing, and hunting
• Industry-specific percentage change in real GDP: +57.6%
• Industry-specific total change in real GDP: +$2,909,517,380
• State percentage change in real GDP: +7.4%
• State total change in real GDP: +$22,193,866,520

Montana

• Industry: Mining, quarrying, and oil and gas extraction
• Industry-specific percentage change in real GDP: +41.6%
• Industry-specific total change in real GDP: +$964,338,788
• State percentage change in real GDP: +11.0%
• State total change in real GDP: +$5,156,567,500

Nebraska

• Industry: Mining, quarrying, and oil and gas extraction
• Industry-specific percentage change in real GDP: +43.1%
• Industry-specific total change in real GDP: +$78,865,150
• State percentage change in real GDP: +8.3%
• State total change in real GDP: +$10,177,365,611

Nevada

• Industry: Information
• Industry-specific percentage change in real GDP: +57.5%
• Industry-specific total change in real GDP: +$3,149,388,767
• State percentage change in real GDP: +13.5%
• State total change in real GDP: +$20,733,769,266

New Hampshire

• Industry: Management of companies and enterprises
• Industry-specific percentage change in real GDP: +189.8%
• Industry-specific total change in real GDP: +$2,649,141,054
• State percentage change in real GDP: +15.5%
• State total change in real GDP: +$12,415,558,568

New Jersey

• Industry: Information
• Industry-specific percentage change in real GDP: +37.3%
• Industry-specific total change in real GDP: +$12,149,965,009
• State percentage change in real GDP: +8.3%
• State total change in real GDP: +$48,318,736,109

New Mexico

• Industry: Mining, quarrying, and oil and gas extraction
• Industry-specific percentage change in real GDP: +64.6%
• Industry-specific total change in real GDP: +$7,113,636,530
• State percentage change in real GDP: +10.7%
• State total change in real GDP: +$8,918,192,493

New York

• Industry: Information
• Industry-specific percentage change in real GDP: +53.2%
• Industry-specific total change in real GDP: +$84,349,432,531
• State percentage change in real GDP: +8.4%
• State total change in real GDP: +$127,848,537,327

North Carolina

• Industry: Professional, scientific, and technical services
• Industry-specific percentage change in real GDP: +42.4%
• Industry-specific total change in real GDP: +$16,001,496,273
• State percentage change in real GDP: +12.3%
• State total change in real GDP: +$63,621,608,484

North Dakota

• Industry: Mining, quarrying, and oil and gas extraction
• Industry-specific percentage change in real GDP: +57.5%
• Industry-specific total change in real GDP: +$5,422,403,721
• State percentage change in real GDP: +5.5%
• State total change in real GDP: +$3,152,664,704

Ohio

• Industry: Agriculture, forestry, fishing, and hunting
• Industry-specific percentage change in real GDP: +65.6%
• Industry-specific total change in real GDP: +$2,819,853,771
• State percentage change in real GDP: +6.8%
• State total change in real GDP: +$43,141,421,008

Oklahoma

• Industry: Management of companies and enterprises
• Industry-specific percentage change in real GDP: +43.7%
• Industry-specific total change in real GDP: +$1,224,836,445
• State percentage change in real GDP: +2.9%
• State total change in real GDP: +$5,897,657,248

Oregon

• Industry: Information
• Industry-specific percentage change in real GDP: +62.8%
• Industry-specific total change in real GDP: +$6,093,485,482
• State percentage change in real GDP: +14.9%
• State total change in real GDP: +$31,764,819,793

Pennsylvania

• Industry: Management of companies and enterprises
• Industry-specific percentage change in real GDP: +29.3%
• Industry-specific total change in real GDP: +$8,108,429,399
• State percentage change in real GDP: +6.2%
• State total change in real GDP: +$46,745,073,039

Rhode Island

• Industry: Management of companies and enterprises
• Industry-specific percentage change in real GDP: +51.6%
• Industry-specific total change in real GDP: +$1,277,736,761
• State percentage change in real GDP: +4.8%
• State total change in real GDP: +$2,677,047,184

South Carolina

• Industry: Information
• Industry-specific percentage change in real GDP: +70.9%
• Industry-specific total change in real GDP: +$5,267,585,365
• State percentage change in real GDP: +13.3%
• State total change in real GDP: +$27,467,397,104

South Dakota

• Industry: Mining, quarrying, and oil and gas extraction
• Industry-specific percentage change in real GDP: +44.8%
• Industry-specific total change in real GDP: +$91,483,574
• State percentage change in real GDP: +5.0%
• State total change in real GDP: +$2,518,467,567

Tennessee

• Industry: Management of companies and enterprises
• Industry-specific percentage change in real GDP: +50.2%
• Industry-specific total change in real GDP: +$3,723,163,066
• State percentage change in real GDP: +13.5%
• State total change in real GDP: +$45,992,942,170

Texas

• Industry: Management of companies and enterprises
• Industry-specific percentage change in real GDP: +77.2%
• Industry-specific total change in real GDP: +$18,991,820,099
• State percentage change in real GDP: +17.0%
• State total change in real GDP: +$303,060,571,800

Utah

• Industry: Information
• Industry-specific percentage change in real GDP: +75.6%
• Industry-specific total change in real GDP: +$7,300,850,263
• State percentage change in real GDP: +25.5%
• State total change in real GDP: +$40,975,783,989

Vermont

• Industry: Administrative and support and waste management and remediation services
• Industry-specific percentage change in real GDP: +30.1%
• Industry-specific total change in real GDP: +$275,421,370
• State percentage change in real GDP: +2.1%
• State total change in real GDP: +$638,686,384

Virginia

• Industry: Agriculture, forestry, fishing, and hunting
• Industry-specific percentage change in real GDP: +40.5%
• Industry-specific total change in real GDP: +$925,391,537
• State percentage change in real GDP: +9.1%
• State total change in real GDP: +$42,094,698,471

Washington

• Industry: Information
• Industry-specific percentage change in real GDP: +110.4%
• Industry-specific total change in real GDP: +$82,197,384,584
• State percentage change in real GDP: +27.5%
• State total change in real GDP: +$135,583,267,246

West Virginia

• Industry: Management of companies and enterprises
• Industry-specific percentage change in real GDP: +42.7%
• Industry-specific total change in real GDP: +$347,127,991
• State percentage change in real GDP: +3.8%
• State total change in real GDP: +$2,750,695,101

Wisconsin

• Industry: Information
• Industry-specific percentage change in real GDP: +36.8%
• Industry-specific total change in real GDP: +$5,279,475,803
• State percentage change in real GDP: +5.3%
• State total change in real GDP: +$16,855,787,844

Wyoming

• Industry: Management of companies and enterprises
• Industry-specific percentage change in real GDP: +150.0%
• Industry-specific total change in real GDP: +$213,178,567
• State percentage change in real GDP: +0.3%
• State total change in real GDP: +$112,837,830

Methodology

The data used in this analysis is from the U.S. Bureau of Economic Analysis’s Gross Domestic Product data. To determine the fastest growing industry in every state, researchers identified the industry with the greatest change in real GDP between Q4 2016 and Q4 2021. All data was inflation-adjusted to Q4 2021 dollars. Only industries with complete data at the state level were considered in this analysis.

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