North Dakota named top US state for economic growth
A report from PlayUSA has named North Dakota the top US state for economic growth, having seen the fastest economic growth over the course of the last 10 years.
The rankings are based on six metrics including the average growth across employment, GDP, house prices, college admissions, household income, and the number of new businesses started.
With an average GDP growth of 7.36%, North Dakota’s surge can largely be attributed to the region’s oil surge that has taken off in recent times.
“When you’re looking for the best opportunities it’s often tempting to head for the bright lights of the big cities, such as New York, NY,” PlayUSA said. “However, those looking to jump on better emerging opportunities may be better off taking a risk on Fargo.
“Huge rises in GDP, new business, and house values in recent years put North Dakota squarely on the map for those looking for a likely place to strike it rich.”
Washington ranked second with strong average growth across all six metrics, including an average GDP growth rate of 4.47% and average house price growth rate of 6.58%, followed by Massachusetts showing strong performance in the Northern states.
Alongside the states mentioned, the top 10 was made up of California, Missouri, Oregon, Kentucky, Texas, Colorado and Iowa.