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The Fastest Growing Industry in Every State

By David Heacock Jul 20, 2022 | 1:01 PM

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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%).

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.