The US is the seventh wealthiest country in the world. Its GDP per capita sits at a staggering $64,906. On the other side of the numbers, there still seems to be a big divide between the nation’s richest and poorest. Today, we look at the five richest states in the US.
Maryland
Maryland sits atop the list as the wealthiest US state. It is home to an estimated 6.6 million people. Their economy benefits mainly from defense technologies and aerospace. A lot of the people here are also employed by Washington DC’s public administrative sector. Many of these jobs prove to be extremely lucrative, boosting the state’s average income by a mile.
The state also gives importance to the education sector. This means that Maryland helps in developing sectors that need highly-skilled workers. Maryland specializes in defense where the National Security Agency is reported to be the largest employer of mathematicians in the country.
New Jersey
New Jersey is the second in the list. Its neighbor, New York, provides it with a lot of employment opportunities. These jobs include high-paying work in Wall Street. The state is also home to pharmaceutical information technologies and transportation firms. Sources report that almost 40% of adults in New Jersey hold a Bachelor’s Degree.
The state also benefits from its neighbors through the tourism sector. New Jersey seems to be a perfect vacation spot for people from New York and Philadelphia. Particularly for those who wish to escape from the hectic city life.
Hawaii
It comes as a surprise for Hawaii to make it to this list. It appears as if Hawaii operates in different ways compared to other states. Hawaii’s median home value sits at an eye-watering $616,000. Leading to high costs of living.
Its wealth is attributed to two key industries: tourism and defense. Did you know that 75,000 employees of the US Department of Defense are housed in its islands? A developed agriculture sector also contributes largely to its wealth. Avocado, banana, and sugarcane plants are also situated across the state.
Massachusetts
Wallethub considers Massachusetts as the most educated state in the country. The state is home to the finest educational institutions in the World: Harvard, the Massachusetts Institute of Technology, and Tufts University. The majority of its sectors seem to be performing well with the financial services and medicine leading the charge.
The state capital, Boston, seems to be thriving as an urban center. It continues to thrive thanks to its historical significance dating back to the American Revolution, specifically the Boston Tea Party in 1773.
Connecticut
Last on our list is Connecticut. Residents of the state are more likely to work in higher-paying fields such as information and finance. The state is also home to the third-highest number of millionaire households according to reports.
The state remains to be a leader in industrial development. It currently has a diverse industrial manufacturing industry, including the production of nuclear submarines and highly-skilled metalworking.
Opinions expressed by AsianBlurb contributors are their own.
The editorial team for AsianBlurb.
