New Hampshire Economy

 

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The Bureau of Economic Analysis estimates that New Hampshire’s total state product in 2003 was $49 billion. New Hampshire’s per capita personal income in 2005 was $37,835, sixth in the United States and 110 percent of the national average ($34,495). New Hampshire’s agricultural outputs are cattle, apples, dairy products, nursery stock and eggs. New Hampshire’s industrial outputs are machinery, electric equipment, rubber products, plastic products, and tourism. The state experienced a significant shift in its economic base during the last century. Historically, the base was composed of the traditional New England manufactures of textiles, shoe-making, and small machining shops drawing upon low-wage labor from nearby small farms and from parts of Quebec. Today, these sectors contribute only two percent for textiles, two percent for leather goods, and nine percent for machining of the state’s total manufacturing dollar value (Source: U.S. Economic Census for 1997, Manufacturing, New Hampshire). They experienced a sharp decline due to obsolete plants and the lure of cheaper wages to the South.

 

 

 

 

 

 

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