2. Massachusetts
GDP per Capita: $110,561
The second-richest state in the country, Massachusetts, is also one of the oldest and played a significant role in the founding of America’s core principles of freedom and liberty.
Since the early settlers determined the course of the country, Massachusetts has developed from a thriving agricultural land to heavy manufacturing and, presently, a center for technology research, and development.
The history of Massachusetts and its economy is deeply connected to the sea, with its maritime industry once second to none, a key player in the whaling boom of the nineteenth century.
Many of the state’s millionaires and billionaires earned their wealth through the biotechnology and financial sectors, with Massachusetts also a major national hub for venture capital investment.
Significant segments of the population are employed in health care, manufacturing, and tourism, the latter of which has undergone a significant boom in recent years, with Boston and Cape Cod popular vacation destinations.
Current data shows Massachusetts’s median household income at over $80,000, comparable to the median income of the other richest states in the country.