6. Delaware
GDP per Capita: $98,055
America’s first state ratified under the Constitution, Delaware has a GDP of $98,055 and an annual median household income of $64,805 in 2020, making it one of the richest states in the country.
The U.S. Census Bureau data reveals the low population of Delaware, with employment split between public sector work in government institutions, banking, farming, and education and health services.
Major corporations, such as DuPont, Bank of America, JPMorgan Chase, and AstraZeneca all have manufacturing bases in Delaware, with its location on the Eastern Seaboard allowing for easy access to a number of major metropolitan areas, including Washington D.C. and Philadelphia.
Much of the population of Delaware resides in New Castle County, where they were drawn to employment in the chemical industry in the post-war period, and where continued investment from leading science firms has ensured its continuing economic health.
Longstanding agriculture, including corn, soybeans, vegetables, and a selection of fish, clams, and crabs, further contribute to Delaware’s annual median household income, along with significant levels of poultry production.
Due to its uniquely liberal incorporation laws, Delaware is home to thousands of U.S. and foreign corporations, with more than three-fifths of companies that are listed on the New York Stock Exchange incorporated in the state.