Kansas

Kansas, derived from the Siouan word Kansa meaning "People of the south wind," is a Midwestern state in the United States. The U.S. postal abbreviation for the state is KS.

Economy

The 2003 total gross state product of Kansas was $93 billion, an increase of 4.3% over the prior year, but trailing the national average increase of 4.8%. Its per-capita income was $29,438. The December 2003 unemployment rate was 4.9%. The agricultural outputs of the state are cattle, wheat, sorghum, soybeans, hogs and corn. The industrial outputs are transportation equipment, commercial and private aircraft, food processing, publishing, chemical products, machinery, apparel, petroleum and mining.

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Kansas ranks 8th in oil production, behind only Texas, Alaska, California, Louisiana, New Mexico, Oklahoma, and Wyoming. Production has experienced a steady, natural decline as it becomes increasingly difficult to extract oil over time. Since oil prices bottomed in 1999 oil production has remained fairly constant, with an average monthly rate of about 2.8 million barrels in 2004. The recent higher prices have made carbon dioxide sequestration and other oil recovery techniques more economical.

Related Topics:
Oil - Texas - Alaska - California - Louisiana - New Mexico - Oklahoma - Wyoming - Recent higher prices - Carbon dioxide

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Kansas ranks 8th in natural gas production, behind only Texas, Alaska, Colorado, Louisiana, New Mexico, Oklahoma, and Wyoming. Production has steadily declined since the mid-1990?s with the depletion of the Hugoton natural gas field—the state's largest field which extends into Oklahoma and Texas. In 2004 slower declines in the Hugoton gas fields and increased coalbed methane production contributed to a smaller overall decline. Average monthly production was over 32 billion cubic feet (0.9 km³).

Related Topics:
Natural gas - Colorado - Natural gas field - Coalbed methane

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The state sales tax rate has increased twice since January 1990—first from 4.25% to 4.9% in June 1992, and most recently to 5.3% in July 2002. Except during the 2001 recession (March–November 2001) when monthly sales tax collections were flat, collections have trended higher as the economy has grown and the two rate increases have been enacted. Total sales tax collections for 2003 amounted to $1.63 billion, compared to $805.3 million in 1990.

Related Topics:
Sales tax - Recession

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Major employers in Kansas include the Sprint Nextel Corporation (with operational headquarters in Overland Park), Raytheon (mostly in Wichita), and Boeing.

Related Topics:
Sprint Nextel Corporation - Overland Park - Raytheon - Wichita - Boeing

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