Connecticut

Connecticut (pronounced {{IPA|/k?ˈnɛtɪk?t/}}) is a state of the United States, part of the New England region, as well as the southernmost state in New England and one of the wealthiest states in the country. Connecticut was one of the thirteen colonies that revolted against British rule in the American Revolution.

Economy

The total gross state product for 2004 was $187 billion. The per capita income for 2004 was $45,398, ranking 1st among the states http://www.bea.doc.gov/bea/regional/statelocal.htm. There is, however, a great disparity in incomes through the state; although New Canaan has the highest per capita income in America, Hartford, is one of the ten cities with the lowest per capita incomes in America. This is due to Fairfield County having become a bedroom community for higher paid New York City workers seeking a less urban lifestyle, as well as the spread of businesses outwards from New York City having reached into southwestern Connecticut, most notably to Stamford. The state did not have an income tax until 1991, making it an attractive haven for high earners fleeing the heavy taxes of New York State, but putting an enormous burden on Connecticut property tax payers, particularly in the cities with their more extensive municipal services. As a result, the middle class largely fled the urban areas for the suburbs, taking stores and other tax-paying businesses with them, and leaving only the urban poor in the now impoverished Connecticut cities. As evident from the dichotomy in income figures described above, this problem has yet to be successfully solved. Exacerbating this problem, the state has a high cost of living, due to a combination of expensive real estate, expensive heating for the winters, the need to import much food from warmer states, and the dependence on private automobiles for mobility.

Related Topics:
Gross state product - Per capita income - Although New Canaan has the highest per capita income in America, Hartford, is one of the ten cities with the lowest per capita incomes in America - Bedroom community - New York City - Stamford - Income tax - 1991 - New York State - Property tax - Municipal services - Middle class - Suburb - Urban poor

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

Connecticut is an important center of the insurance and financial industries, largely in Hartford and in Fairfield county. The recent establishment of two very large and lucrative Indian casinos in the southeastern region of the state has led to a large influx of money in that area, as well as statewide in general.

Related Topics:
Insurance - Financial - Indian casino

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

The agricultural output for the state is nursery stock, eggs, dairy products, cattle, and tobacco. Its industrial outputs are transportation equipment (especially helicopters, aircraft parts, and nuclear submarines), heavy industrial machinery and electrical equipment, fabricated metal products, chemical and pharmaceutical products, and scientific instruments.

Related Topics:
Nursery stock - Eggs - Dairy product - Cattle - Tobacco - Transportation - Helicopters - Aircraft - Nuclear submarine - Fabricated metal product - Chemical - Pharmaceutical - Scientific instrument

~ ~ ~ ~ ~ ~ ~ ~ ~ ~