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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.
Photo Credit: Rob Hainer / Shutterstock
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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.
