With 2018 approaching the 10-year anniversary of one of the most devastating financial crashes of our time, economies are slowly starting to regain balance, highlighting levels of growth and stability.
In light of this, we’ve recently researched the 10 Best US States for Economic Growth, highlighting factors like employment, house prices and college admissions to determine which states have the best growth prospects over the last decade, and as well as in the future.
Some of the findings include:
- Progress for Northern States – North Dakota, Washington and Massachusetts are the top 3 states across the 50, with the fastest economic growth over the last 10 years
- Strengthening Housing Markets – Outside of the top 3, Louisiana and West Virginia have seen the biggest increase of just over 5%.
- Working on Employment – In our top 10, California ranks highest for employment growth at 3.35%, however, entrepreneurs should consider North Dakota and Missouri, where new businesses are appearing at a far more rapid pace.
Would You Gamble Your Future on North Dakota’s Thriving Economy? New Study Suggests You Should
- Decade-long study of economic factors gives interesting insights into the personal financial success states can offer their residents
- North Dakota, Washington and Massachusetts are the 3 states with the fastest economic growth over the last 10 years
- States housing some of the biggest cities in the US such as New York, Illinois, and Pennsylvania are lagging behind
The economic environment of where you live is deeply connected to your own financial success in life. When you’re looking for the best opportunities it’s often tempting to head for the bright lights of the big cities, such as New York, NY.
However, those looking to jump on better emerging opportunities may be better off taking a risk on Fargo. Huge rises in GDP, new business, and house values in recent years put North Dakota squarely on the map for those looking for a likely place to strike it rich.
Recent research from PlayUSA took a whole decade of economic indicators and growth trends into account to make a map of which states are really the richest in the US, with highlights including:
- Time to Head North – The top 3 states in the study – North Dakota, Washington and Massachusetts – all sit in the north of the US, and have all seen recent increases in household income and GDP
- The Children are our Future – Increasing amounts of high school students heading to college is a clear indicator that a state is on the right path to creating future leaders in the workplace. California has seen the biggest rise by far in college admissions, which are up by 7.63% since 2004.
- Entrepreneurs and Employees – You need both to run an economy. Whilst Washington and California are currently seeing the steadiest rise in employment, entrepreneurs should consider North Dakota and Missouri, where new businesses are appearing at a far more rapid pace.
The top 10 states can be seen below, along with their average growth percentage over 10 years for each of the key economic factors studied.
|Rank||State||Employment||GDP||House Price||College Admission||Household Income||New Businesses Started|
The full breakdown can be found here.