Key Facts
- Per Capita Real GDP
- $37,075 Rank: 21/50 (2007)
- Population
- 1,783,430 Rank: 38/50 (2008)
- Per Capita Personal Income
- $34,397 Rank: 23/50 (2006)
- Unemployment Rate
- 2.90% Rank: 4/50 (2008)
- Business Tax Climate Index
- Rank: 43/50 (2008)
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Nebraska: Introduction
Nebraska is located in the heart of the Great Plains region of the United States. The rich soil found in this region has rendered agriculture as the cornerstone of Nebraska’s economy. Corn production constitutes the largest portion of the agricultural sector, giving rise to the nickname “cornhuskers” for Nebraskans. Fortunately for the state’s many corn farmers, recent times have seen corn prices reach record highs. These highs have been at least partially driven by increased demand for corn in ethanol production which currently uses over 25% of the state’s crop. The majority of corn is used as feed for farm animals however. Nebraska is also a major supplier of soybeans, grains, beef and pork.
Nebraska’s strength in the agriculture industry is complemented by a fast-growing manufacturing sector. Roughly 10% of the state’s workforce is employed in manufacturing jobs, the leading sub-category of which is food processing. Farm equipment, chemicals and instruments are other top manufactures. Transportation is another key industry in Nebraska, which is home to the world’s largest railroad classification yard. The transportation (sector) industry has also been greatly supported by the agriculture industry which fills 65% of the freight originating in Nebraska. The service sector also provides a particularly large portion of the state’s GDP. Much of this is due to the strength of the finance, insurance and real estate industries which have experienced tremendous growth in recent years.
