Individual states contribute significantly to U.S. economic growth, and some contribute more than others, according to a report released Monday by WalletHub, a personal finance website.
Indeed, the economies of California, Texas, New York and Florida are so large that if they were countries, they would rank among the top 20 economies in the world.
"A strong state economy doesn't guarantee success for the state's residents, but it certainly makes financial success more attainable," WalletHub analyst Chip Lupo said in a statement. "Factors like a low unemployment rate and high average income help residents purchase property, pay down debt and save for the future."
The most vibrant state economies, Lupo noted, also encourage growth by welcoming new businesses and investing in new technology that will help the state deal with future challenges and become more efficient.
WalletHub determined which states are pulling the most weight in moving the U.S. economy forward by comparing the 50 states and the District of Columbia across these key dimensions:
— Economic activity, including change in GDP (2025 vs. 2024), share of fast-growing firms and exports per capita
— Economic health, including unemployment rate, median annual household income adjusted for cost of living, government surplus/deficit per capita and fiscal health
— Innovation potential, including share of jobs in high-tech industries, industry R&D investment amount per total civilian employed population, and entrepreneurial activity
Researchers evaluated those dimensions using 28 relevant metrics and graded each one on a 100-point scale, with a score of 100 representing the highest economic performance.
See the accompanying gallery for the 12 best state economies in 2026.
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