Economy
See also: Missouri locations by per capita incomeThe Bureau of Economic Analysis estimates that Missouri's total state product in 2006 was $225.9 billion. Per capita personal income in 2006 was $32,705, ranking 26th in the nation. Major industries include aerospace, transportation equipment, food processing, chemicals, printing/publishing, electrical equipment, light manufacturing, and beer.
The agriculture products of the state are beef, soybeans, pork, dairy products, hay, corn, poultry, sorghum, cotton, rice, and eggs. Missouri is ranked 6th in the nation for the production of hogs and 7th for cattle. Missouri is ranked in the top five states in the nation for production of soy beans, and it is ranked fifth in the nation for the production of rice. As of 2001, there were 108,000 farms, the second-largest number in any state after Texas. Missouri actively promotes its rapidly growing wine industry.
Missouri has vast quantities of limestone. Other resources mined are lead, coal, and crushed stone. Missouri produces the most lead of all of the states. Most of the lead mines are in the central eastern portion of the state. Missouri also ranks first or near first in the production of lime, a key ingredient in Portland cement.
Missouri also has a growing science and biotechnology field. Monsanto, one of the largest gene companies in America is based in St.Louis, Missouri
Tourism, services and wholesale/retail trade follow manufacturing in importance.
Missouri is the only state in the Union to have two Federal Reserve Banks: one in Kansas City (serving western Missouri, Kansas, Nebraska, Oklahoma, Colorado, northern New Mexico, and Wyoming) and one in St. Louis (serving eastern Missouri, southern Illinois, southern Indiana, western Kentucky, western Tennessee, northern Mississippi, and all of Arkansas).
As of May 2012, the state’s unemployment rate is 7.3%, while the nation overall is 8.2%.
Read more about this topic: Sports In Missouri
Famous quotes containing the word economy:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)