Economy of Wisconsin

Wisconsin is considered a farming state. It is the largest producer of oats, potatoes, carrots, tart cherries, and maple syrup.

GSP	$248.3 billion in 2010
Per Capita Income	$38,432 in 2010
Unemployment Rate	7.9% in 2010
Major Sectors	Agriculture, manufacturing, heath care, mining, services
Major Industries	Tourism, entertainment, transportation, construction

Agriculture and manufacturing account for most of the income of the state. Wisconsin had a gross state product of $248.3 billion in 2010, while the per capita personal income was $38,432.
In June 2010, the unemployment rate of the state was 7.9%.

Agriculture is an important sector generating great revenue. The state leads the nation in cheese production. It is the second-largest producer of butter and milk. The major crops include corn for silage, cranberries, oats, potatoes, carrots, tart cherries, maple syrup, ginseng, and snap beans.

A large part of the state's revenue is generated from the manufacturing sector. Commercial food processing, brewing, vehicles and transportation equipment, medical instruments and equipment, farm implements, and lumbering are the major manufactures. Mining is also important with sand, gravel and crushed stone being the major mined products.

Tourism is the third-largest industry in Wisconsin. House on the Rock near Spring Green, Circus World Museum, the Wisconsin Dells, Cave of the Mounds at Blue Mounds, and Door County are the major attractions. Wisconsin has a significantly large film industry.

The state levies personal income taxes ranging from 4.6% to 7.75%. There is also a provision of the real property tax, or the residential property tax in Wisconsin. However, the state does not impose a property tax on vehicles, rather levies an annual registration fee. Unlike most of the states, Wisconsin does not collect inheritance taxes.

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