Key Facts
- Per Capita Real GDP
- $35,181 Rank: 27/50 (2007)
- Population
- 4,410,800 Rank: 25/50 (2008)
- Per Capita Personal Income
- $30,952 Rank: 41/50 (2006)
- Unemployment Rate
- 4.00% Rank: 17/50 (2008)
- Business Tax Climate Index
- Rank: 32/50 (2008)
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Louisiana: Introduction
The southern state of Louisiana lies north of the Gulf of Mexico and along the Mississippi River. The area that would become present-day Louisiana was originally colonized by the French in the 17th century. In 1803, the United States bought most of present day Louisiana as part of the Louisiana Purchase; the rest was later obtained after the West Florida Rebellion of 1810. Louisiana was admitted to the Union as the 18th state on April 30, 1812.
Agriculture has been an important economic activity since the 18th century because of Louisiana’s semitropical climate and alluvial soil. In the early 20th century, petroleum and natural gas were discovered, fueling the development of an extraction industry. The industry grew rapidly until the mid 1980s when prices fell significantly. Though not as prominent as it once was, energy is still a vital component of the state economy. Louisiana currently leads the nation in the production of sulfur and salt and ranks high in crude petroleum, natural gas, and natural gas liquids production. Tourism is another important contributor to the Louisiana economy. Many visitors are drawn to the southern city of New Orleans because of its unique Cajun culture and famous Mardi Gras celebration.
