#1 California
California is the largest and most diversified state in the country. The state grew personal income by 6.3% last year. It has more billionaires and Fortune 500 companies than anywhere else. Silicon Valley is the envy of the world for tech innovation while Hollywood is the same for film, television and media innovation. It has massive construction, healthcare, insurance, asset management, agriculture, healthcare, education, pharmaceutical and technology companies to power its economy. The largest company in the world by market capitalization, Apple, is based in the state. Immigrants from all over the world including Asia, Europe, the Middle East and South America call it home. Their increased spending helps improve the state economy. California also has a strong pull for domestic new arrivals from other states that are lagging in growth. Universities including Stanford, Cal Tech, UCLA, USC, University of California and many, many others produce high quality graduates that are constantly investing in to the economy and producing fast growing companies. Similarly, venture capital firms spend tens of billions per year boosting California companies, more than any other state.
Income Growth
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