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| NewHampshireXL » New Hampshire Economy |
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New Hampshire Economy |
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Located in the northeastern part of US, the state of New Hampshire is one of the most affluent states in the country. The state had been named after the county of Hampshire located in the southern part of England. New Hampshire was in fact one of the colonies under the British rule. The state of New Hampshire has always been in the limelights for being a popular tourist destination. Visitors from all over the word come to this incredible state in US to take part into a number of winter sports activities. Some of the most popular motor cycle rallies are also held in New Hampshire. Over the years New Hampshire economy has been scaling great heights due to effective economic policies implemented by the state government.
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As per the Bureau of Economic Analysis, New Hampshire economy has been growing steadily having a total state product of about $ 49 billion in the year 2003. The per capita income of New Hampshire was recorded to be about $ 37,835 in the year 2005. Over the the few decades New Hampshire economy has been facing significant changes. There has been a noticeable shift from the usual companies of textile manufacturing, leather goods manufacturing and machining firms to companies manufacturing electrical equipments, plastic and rubber goods. Tourism also played a major role in boosting the economical condition of the state. A number of hotels, resorts, shopping plazas and numerous areas of entertainment have come up in New Hampshire that are facilitating the growth of tourism in the state.
With 6th highest per capita income in the country, New Hampshire economy is going through a healthy phase. Economy of New Hampshire also has been facing huge benefits with a number of unique policies. There are no general sales tax taken in the state and no personal income tax is levied to the individuals of the state. In order to attract more investments, the taxing policies are made quite lenient. As a result of lower rate of taxes, New Hampshire has been able to attract significant number of industries from diverse sectors to get settled in the state.
To know more about New Hampshire economy, click on the links below:
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