While many advantages that attracted multinational companies are still present, structural shifts have made West ia even more competitive as a global chemical and polymer hub. The state is located in the heart of the Appalachian Basin, atop the abundant Marcellus and Utica Shale […]

West ia's economic growth prospects for the next five years are moderately positive overall thanks to further waning of the pandemic and some major economic development announcements and initiatives; however, the state's economy does face heightened downside risks to its performance over the next year or so because of …

West ia ranked among the highest states for the percentage of total economic contributions by the natural gas and oil industry, generating $11.2 billion toward the state's gross domestic product—including $5.2 billion added to total labor income.

Highlights related to West ia's economic outlook are as follows: Employment in West ia is expected to reach pre-pandemic levels by late-2022; overall, job growth is forecast to increase nearly 1 percent per year on average through 2025, compared to an expectation of 2 percent for the nation.

In the 3rd quarter of 2023, the real GDP growth rate for West ia was 3.7% per year, compared with 3.6% the previous quarter. The latest data shows that West ia economic growth is lower than the US overall. Gross domestic production (GDP) estimates the size of an area's economy.

Here are some of the biggest industries in West ia: Mining has been an integral part of West ia for over a century and is a leading contributor to GDP growth in the State. In 2016, the mining industry of West ia contributed $4.6 billion to the GDP of the state.

#YESWV. Constructing a solidfoundation for success ... West ia's building products industry. ACCESS TO LABOR. West ia workers boast the lowest manufacturing turnover rate in the nation, and are below average in other workforce categories (BLS Industry Report, 2020).

West ia's diverse economy has moved beyond our history of resource extraction to include a robust array of products and services. Learn about the key industries that have taken a foothold here and learn why leading companies …

The real GDP growth of the state in 2009 of .7% was the 7th best in the country. West ia's economy accelerated in 2014 with a growth rate of 5.1%, ranking third among the fastest growing states in the United States alongside Wyoming and just behind North Dakota and Texas. [5]

The United States and West ia economies currently face major headwinds resulting from sharp increases in interest rates since early-2022. So far, both the state and the nation have been able to avoid a recession, but the probability …