A recent study by 27/7 Wall St. explored the breakdown of industries by state to reveal the largest industry in each state of the United States. To identify the largest industry in each state, the study reviewed each state’s industries and their respective Gross Domestic Product (GDP) contribution from the Bureau of Economic Analysis (BEA). It also looked at each industry’s output as a percentage of GDP and its private workforce. Several states, including California and New York, generate more output than several countries like Belgium, Poland, and Turkey. The largest industry in Texas produces more in economic output than the entire economies of 19 states.
The largest industry in the U.S. is real estate, and is the largest contributor to the economy in most states. However, since housing is a universal need despite geography, it fails to illuminate regional differences; and apart from real estate, economic value is created in a variety of ways across the nation. In order to capture the unique economic features of each state, the 24/7 Wall St. examination reviewed the largest industry in each state by GDP contribution, excluding real estate.