Economy of Louisiana

The total gross state product of Louisiana in 2010 was $213.6 billion. It leads the nation in shrimp production. The seafood industry directly employs 16,000 people.
Agriculture, manufacturing, service industries, petroleum and coal products, processed foods and transportation equipment, paper products, mining, and tourism are the major sectors/industries of Louisiana. The total gross state product of the state in 2010 stood at $213.6 billion while its per capita personal income was $30,952. The unemployment rate was 7.4% in the same year.

Agriculture is an important industry and the major agricultural products are: soya beans, cotton, and dairy products, and strawberries, corn, hay, poultry and eggs. The state is one of the leading producers of sweet potatoes, rice, and sugarcane in the United States.

Fishing is a major industry with shrimp, menhaden, and oysters being the major catch. Mining is also significant. The state has great amount of petroleum and natural gas. Also, it leads the nation in the production of salt and sulfur.

Tourism is also important for the economy. New Orleans, Louisiana Shrimp and Petroleum Festival in Morgan City, the International Rice Festival at Crowley, Louisiana Cotton Festival at Ville Platte are the major attractions that draw a number of tourists to the state every year.

GSP	$213.6 billion in 2010
Per Capita Income	$30,952 in 2010
Unemployment Rate	7.4% in 2010
Major Sectors	Agriculture, transportation, food processing, chemicals, mining, banking
Major Industries	Tourism, printing, electrical equipment, manufacturing

There are three personal income tax brackets in the state, ranging from 2% to 6%. The sales tax rate in Louisiana is 4%. The state levies property taxes that are assessed and collected at the local level.

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