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December 21, 2014

10 Fastest-Growing Economies by State

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10 Fastest-Growing Economies by State

Some of the states seeing the biggest increases are expanding due to booming energy industries, such as in Texas and North Dakota. Population growth is also fueling some economies. The top five states for GDP growth were also among the five largest for population growth last year. 

“You’re going to find border states with heavy immigrant presence generating faster population growth,” says Jared Bernstein, senior fellow at the Center on Budget and Policy Priorities.

The following are the states with the fastest growing economies, based on GDP growth. 

1. North Dakota
GDP growth: 13.4%
1-year population change: 2.17% 

2. Texas
GDP growth: 4.8%
1-year population change: 1.67% 

3. Oregon
GDP growth: 3.9%
1-year population change: 0.80%

4. Washington
GDP growth: 3.6%
1-year population change: 1.08%

5. Minnesota
GDP growth: 3.5%
1-year population change: 0.60%

6. California
GDP growth: 3.5%
1-year population change: 0.95%

7. Utah
GDP growth: 3.4%
1-year population change: 1.45%

8. Indiana
GDP growth: 3.3%
1-year population change: 0.32%

9. Tennessee
GDP growth: 3.3%
1-year population change: 0.88%

10. West Virginia
GDP growth: 3.3%
1-year population change: 0.03%

Source: “Top states with the fastest growing economies,” 24/7 Wall St. (June 15, 2013)

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