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Do not fill this in! ==Economy== {{See also|Louisiana locations by per capita income}} [[File:MSC Marina docked at Port of New Orleans.jpg|thumb|Cargo ship at the [[Port of New Orleans]]]] Louisiana's population, [[Agricultural productivity|agricultural products]], abundance of [[Oil and gas law in the United States|oil and natural gas]], and southern Louisiana's medical and technology corridors have contributed to its growing and diversifying economy.<ref>{{cite web|title=Key Industries|url=https://www.opportunitylouisiana.com/key-industries|url-status=live|access-date=2021-11-08|website=Louisiana Economic Development|archive-date=November 8, 2021|archive-url=https://web.archive.org/web/20211108184705/https://www.opportunitylouisiana.com/key-industries}}</ref> In 2014, Louisiana was ranked as one of the most small business friendly states, based on a study drawing upon data from more than 12,000 small business owners.<ref>{{cite web|url=http://www.governing.com/news/headlines/gov-survey-ranks-most-small-business-friendly-states-cities.html|title=The Most Small Business-Friendly States, Metro Areas|first=Mike |last=Maciag|publisher=Governing|access-date=May 13, 2017|archive-url=https://web.archive.org/web/20170525201827/http://www.governing.com/news/headlines/gov-survey-ranks-most-small-business-friendly-states-cities.html|archive-date=May 25, 2017|url-status=dead}}</ref> The state's principal agricultural products include seafood (it is the biggest producer of [[crawfish]] in the world, supplying approximately 90%), cotton, [[soybean]]s, cattle, [[sugarcane]], poultry and eggs, dairy products, and rice. Among its energy and other industries, chemical products, petroleum and coal products, processed foods, transportation equipment, and paper products have contributed to a significant portion of the state's GSP. Tourism and gaming are also important elements in the economy, especially in Greater New Orleans.<ref>{{cite web|title=Louisiana Office of Tourism Research|url=https://www.crt.state.la.us/tourism/louisiana-research/index|url-status=live|access-date=2021-11-08|website=Louisiana Office of Tourism|date=September 19, 2013|language=en|archive-date=November 8, 2021|archive-url=https://web.archive.org/web/20211108185039/https://www.crt.state.la.us/tourism/louisiana-research/index}}</ref> The [[Port of South Louisiana]], located on the [[Mississippi River]] between New Orleans and [[Baton Rouge]], was the largest volume shipping port in the [[Western Hemisphere]] and 4th largest in the world, as well as the largest [[bulk cargo]] port in the U.S. in 2004.<ref>{{cite web |url=http://www.aapa-ports.org/files/Statistics/2004%5FUS%5FPORT%5FCARGO%5FTONNAGE%5FRANKINGS.xls |title=U.S. Port Ranking by Cargo Volume 2004 |work=American Association of Port Authorities |archive-url=https://web.archive.org/web/20100107091819/http://www.aapa-ports.org/files/Statistics/2004_US_PORT_CARGO_TONNAGE_RANKINGS.xls |archive-date=January 7, 2010 |access-date=September 28, 2006}}</ref> The Port of South Louisiana continued to be the busiest port by tonnage in the U.S. through 2018.<ref>{{cite web |url=https://www.bts.gov/content/tonnage-top-50-us-water-ports-ranked-total-tons |title=Tonnage of Top 50 U.S. Water Ports, Ranked by Total Tons |work=US Bureau of Transportation Statistics |access-date=September 30, 2020 |archive-date=October 16, 2020 |archive-url=https://web.archive.org/web/20201016175533/https://www.bts.gov/content/tonnage-top-50-us-water-ports-ranked-total-tons |url-status=live }}</ref> South Louisiana was number 15 among world ports in 2016.<ref>{{cite web |url=http://en.sisi-smu.org/index.php?c=article&id=16280 |title=Table 2.1 2016 Global Top 20 Ports by Cargo Throughput |work=Global Port Development Report |date=May 2017 |location=Shanghai |access-date=September 30, 2020 |archive-date=January 8, 2021 |archive-url=https://web.archive.org/web/20210108235229/http://en.sisi-smu.org/index.php?c=article&id=16280 |url-status=dead }}</ref> [[File:Tabasco-varieties.jpg|thumb|Tabasco varieties produced in Louisiana]] [[New Orleans]], [[Shreveport, Louisiana|Shreveport]], and [[Baton Rouge, Louisiana|Baton Rouge]] are home to a thriving film industry.<ref>{{Cite news|first=Eve |last=Troeh |title=Louisiana to be Southern Filmmaking Capital? |date=February 1, 2007 |publisher=Voice of America |url=http://voanews.com/english/archive/2007-02/2007-02-01-voa58.cfm |work=VOA News |access-date=December 25, 2008|url-status=dead |archive-url=https://web.archive.org/web/20081202193843/http://www.voanews.com/english/archive/2007-02/2007-02-01-voa58.cfm |archive-date=December 2, 2008 }}</ref> State financial incentives since 2002 and aggressive promotion have given Louisiana the nickname "Hollywood South". Because of its distinctive culture within the United States, only [[Alaska]] is Louisiana's rival in popularity as a setting for reality television programs.<ref name="robertson20130516">{{cite news | url=https://www.nytimes.com/2013/05/16/us/louisiana-inspires-reality-tv-shows.html?pagewanted=all | title=Seeking Fame in the Bayou? Get Real | work=The New York Times | date=May 16, 2013 | access-date=May 16, 2013 | author=Robertson, Campbell | pages=A13 | archive-url=https://web.archive.org/web/20130516023541/http://www.nytimes.com/2013/05/16/us/louisiana-inspires-reality-tv-shows.html?pagewanted=all | archive-date=May 16, 2013 | url-status=live }}</ref> In late 2007 and early 2008, a {{convert|300000|sqft|m2|adj=on}} film studio was scheduled to open in [[Tremé]], with state-of-the-art production facilities, and a film training institute.<ref>{{cite web |url=http://www.nj.com/careerwise/index.ssf?/careerwise/html/articles/0215071503_filmjobs.html |title=New Jersey Local Jobs |publisher=Nj.com |access-date=April 23, 2014 |archive-url=https://web.archive.org/web/20130120192412/http://www.nj.com/careerwise/index.ssf?%2Fcareerwise%2Fhtml%2Farticles%2F0215071503_filmjobs.html |archive-date=January 20, 2013 |url-status=live }}</ref> [[Tabasco sauce]], which is marketed by one of the United States' biggest producers of hot sauce, the [[McIlhenny Company]], originated on [[Avery Island]].<ref>Shevory, Kristina. "The Fiery Family", ''The New York Times'', March 31, 2007, p. B1.</ref> From 2010 to 2020, Louisiana's [[Gross regional domestic product|gross state product]] increased from $213.6{{spaces}}billion to $253.3{{spaces}}billion, the [[List of states and territories of the United States by GDP|26th highest]] in the United States at the time.<ref>{{cite web|title=U.S. federal state of Louisiana—real GDP 2000–2019|url=https://www.statista.com/statistics/187887/gdp-of-the-us-federal-state-of-louisiana-since-1997/|access-date=October 28, 2020|website=Statista|archive-date=November 1, 2020|archive-url=https://web.archive.org/web/20201101043640/https://www.statista.com/statistics/187887/gdp-of-the-us-federal-state-of-louisiana-since-1997/|url-status=live}}</ref><ref>{{cite web|title=GDP by State|url=https://www.bea.gov/data/gdp/gdp-state|url-status=live|access-date=2021-11-08|website=U.S. Bureau of Economic Analysis|archive-date=August 17, 2018|archive-url=https://web.archive.org/web/20180817010902/https://www.bea.gov/data/gdp/gdp-state}}</ref> As of 2020, its GSP is [[List of countries by GDP (nominal)|greater than the GDPs]] of [[Economy of Greece|Greece]], [[Economy of Peru|Peru]], and [[Economy of New Zealand|New Zealand]]. Ranking 41st in the United States with a [[Per capita personal income in the United States|per capita personal income]] of $30,952 in 2014,<ref>{{cite web|date=April 6, 2014|title=US Government Revenue|url=http://usgovernmentrevenue.com/state_rev_summary.php?chart=Z0&year=2010&units=d&rank=a|url-status=dead|archive-url=https://web.archive.org/web/20140512000234/http://www.usgovernmentrevenue.com/state_rev_summary.php?chart=Z0&year=2010&units=d&rank=a|archive-date=May 12, 2014|access-date=April 23, 2014|publisher=U.S. Government Revenue}}</ref><ref>{{cite web|title=Katrina Effect: LA Tops Nation in Income Growth |publisher=2theadvocate.com |year=2007 |url=http://www.2theadvocate.com/news/6728801.html |url-status=dead |archive-url=https://web.archive.org/web/20110707062704/http://www.2theadvocate.com/news/6728801.html |archive-date=July 7, 2011 }}</ref> its residents per capita income decreased to $28,662 in 2019.<ref>{{cite web|title=2019 Per Capita Income Estimates|url=https://data.census.gov/cedsci/table?q=Louisiana%20per%20capita&tid=ACSDT1Y2019.B19301|url-status=live|access-date=2021-11-08|website=United States Census Bureau|archive-date=November 8, 2021|archive-url=https://web.archive.org/web/20211108184717/https://data.census.gov/cedsci/table?q=Louisiana%20per%20capita&tid=ACSDT1Y2019.B19301}}</ref> The median household income was $51,073, while the national average was $65,712 at the 2019 [[American Community Survey]].<ref>{{cite web|title=2019 Annual Income Estimates|url=https://data.census.gov/cedsci/table?g=0400000US22&tid=ACSST1Y2019.S1901&hidePreview=true|url-status=live|access-date=2021-11-08|website=United States Census Bureau|archive-date=November 8, 2021|archive-url=https://web.archive.org/web/20211108184716/https://data.census.gov/cedsci/table?g=0400000US22&tid=ACSST1Y2019.S1901&hidePreview=true}}</ref> In July 2017, the state's unemployment rate was 5.3%;<ref>{{cite web |url=http://www.bls.gov/web/laus/laumstrk.htm |archive-url=https://web.archive.org/web/20141005213533/http://www.bls.gov/web/laus/laumstrk.htm |archive-date=October 5, 2014 |title=Local Area Unemployment Statistics |publisher=Bureau of Labor Statistics}}</ref> it decreased to 4.4% in 2019.<ref>{{cite web|title=News – Louisiana Workforce Commission|url=https://www.laworks.net/PublicRelations/PR_PressRelease.asp?Year=2019&Month=6#:~:text=BATON%20ROUGE%20%E2%80%93%20Data%20released%20today%20by%20the%20Bureau%20of%20Labor,May%202019,%20which%20places%20Louisiana%20%E2%80%A6|access-date=2021-06-04|website=www.laworks.net|archive-date=June 4, 2021|archive-url=https://web.archive.org/web/20210604002344/https://www.laworks.net/PublicRelations/PR_PressRelease.asp?Year=2019&Month=6#:~:text=BATON%20ROUGE%20%E2%80%93%20Data%20released%20today%20by%20the%20Bureau%20of%20Labor,May%202019,%20which%20places%20Louisiana%20%E2%80%A6|url-status=live}}</ref> Louisiana has three personal [[income tax]] brackets, ranging from 2% to 6%. The state [[sales tax]] rate is 4.45%, and [[List of parishes in Louisiana|parishes]] can levy additional sales tax on top of this. The state also has a [[use tax]], which includes 4% to be distributed to local governments. Property taxes are assessed and collected at the local level. Louisiana is a subsidized state, and Louisiana taxpayers receive more federal funding per dollar of federal taxes paid compared to the average state.<ref>{{cite web|title=Pew: Arizona, Louisiana among seven states that receive more federal dollars than state tax revenue|url=https://www.thecentersquare.com/national/pew-arizona-louisiana-among-seven-states-that-receive-more-federal-dollars-than-state-tax-revenue/article_eca6d34a-ec4e-11e9-a230-e7e35e9024ac.html|access-date=October 28, 2020|website=The Center Square|date=October 13, 2019 |archive-date=October 31, 2020|archive-url=https://web.archive.org/web/20201031090658/https://www.thecentersquare.com/national/pew-arizona-louisiana-among-seven-states-that-receive-more-federal-dollars-than-state-tax-revenue/article_eca6d34a-ec4e-11e9-a230-e7e35e9024ac.html|url-status=live}}</ref> Per dollar of federal tax collected in 2005, Louisiana citizens received approximately $1.78 in the way of federal spending. This ranks the state fourth highest nationally and represents a rise from 1995 when Louisiana received $1.35 per dollar of taxes in federal spending (ranked seventh nationally). Neighboring states and the amount of federal spending received per dollar of federal tax collected were: Texas ($0.94), Arkansas ($1.41), and Mississippi ($2.02). Federal spending in 2005 and subsequent years since has been exceptionally high due to the recovery from Hurricane Katrina. Summary: Please note that all contributions to Christianpedia may be edited, altered, or removed by other contributors. If you do not want your writing to be edited mercilessly, then do not submit it here. You are also promising us that you wrote this yourself, or copied it from a public domain or similar free resource (see Christianpedia:Copyrights for details). Do not submit copyrighted work without permission! Cancel Editing help (opens in new window) Discuss this page