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.
While COVID-19 was unquestionably a severe shock, the pandemic only temporarily disrupted the economy’s overall growth trajectory. The pandemic sent GDP from nearly $23 trillion in adjusted dollars in the first quarter of 2020 to $20.9 trillion in the second. But the economy proved resilient and bounced back quickly. GDP climbed back above $23 trillion by the first quarter of 2021 and topped $24 trillion in the last quarter of the year before falling slightly at the beginning of 2022.
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.
Other sectors that have performed well are those that offer services to other businesses. These growing fields include management of companies and enterprises (+35.4% real GDP growth), administrative and support and waste management and remediation services (+29.3%), and professional, scientific, and technical services (+27.2%).
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In light of these industry trends, the states that have seen the largest increases in GDP growth are found mostly in the western United States. Washington (+27.5% real GDP growth), Utah (+25.5%), and California (+22.3%) have large and fast-growing information sectors that have boosted their economy in recent years. Other prospering states like Florida (+17.7%) and Texas (+17%) can credit more of their success to growth in the management industry.
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 vary substantially across locations.
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 at Filterbuy 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.
Here are the fastest growing industries in every state.
The Fastest Growing Industry in Every State
Photo Credit: Rob Hainer / Shutterstock
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
Photo Credit: Marcus Biastock / Shutterstock
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
Photo Credit: Mark Skalny / Shutterstock
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
Photo Credit: mnapoli / Shutterstock
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
Photo Credit: yhelfman / Shutterstock
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
Photo Credit: Nicholas Courtney / Shutterstock
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
Photo Credit: Wendell Guy / Shutterstock
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
Photo Credit: Paul Brady Photography / Shutterstock
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
Photo Credit: shamiso chikanga / Shutterstock
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
Photo Credit: Sean Pavone / Shutterstock
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
Photo Credit: norinori303 / Shutterstock
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
Photo Credit: Charles Knowles / Shutterstock
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
Photo Credit: Jonathan Siegel / Shutterstock
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
Photo Credit: Rudy Balasko / Shutterstock
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
Photo Credit: f11photo / Shutterstock
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
Photo Credit: Sean Pavone / Shutterstock
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
Photo Credit: Harold Stiver / Shutterstock
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
Photo Credit: Sean Pavone / Shutterstock
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
Photo Credit: KWJPHOTOART / Shutterstock
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
Photo Credit: ESB Professional / Shutterstock
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
Photo Credit: Travellaggio / Shutterstock
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
Photo Credit: Sergey Novikov / Shutterstock
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
Photo Credit: Jon Bilous / Shutterstock
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
Photo Credit: Sean Pavone / Shutterstock
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
Photo Credit: Sean Pavone / Shutterstock
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
Photo Credit: Mary Vanier / Shutterstock
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
Photo Credit: Jonathannsegal / Shutterstock
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
Photo Credit: Sean Pavone / Shutterstock
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
Photo Credit: Sean Pavone / Shutterstock
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
Photo Credit: Mihai Andritoiu / Shutterstock
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
Photo Credit: stellamc / Shutterstock
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
Photo Credit: Victor Moussa / Shutterstock
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
Photo Credit: Farid Sani / Shutterstock
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
Photo Credit: Joseph Sohm / Shutterstock
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
Photo Credit: Sean Pavone / Shutterstock
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
Photo Credit: Natalia Bratslavsky / Shutterstock
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
Photo Credit: Jon Bilous / Shutterstock
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
Photo Credit: AevanStock / Shutterstock
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
Photo Credit: Richard Cavalleri / Shutterstock
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
Photo Credit: f11photo / Shutterstock
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
Photo Credit: Jacob Boomsma / Shutterstock
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
Photo Credit: Mihai Andritoiu / Shutterstock
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
Photo Credit: Sean Pavone / Shutterstock
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
Photo Credit: Sean Pavone / Shutterstock
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
Photo Credit: Sean Pavone / Shutterstock
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
Photo Credit: John S. Quinn / Shutterstock
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
Photo Credit: Nick Fox / Shutterstock
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
Photo Credit: Steve Heap / Shutterstock
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
Photo Credit: Sean Pavone / Shutterstock
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
Photo Credit: Jess Kraft / Shutterstock
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
Detailed Findings & 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.
