Economy of Washington,Features of Economy of Washington,Information about Economy of Washington


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Economy of Washington
	Any information about Washington remains incomplete if we don't chip in details of economy of Washington. This leading state of USA has a flourishing economy with a total gross state produce of $268.5 billion. This makes gives it the honor of being 14th state in the nation in respect of gross produce in the nation .The per capita income was $42,702, 17th in the nation. The key features of economy of Washington includes such significant industries like design and manufacture of jet aircraft , computer software development , electronics, biotechnology, aluminum production, lumber and wood product, mining, and tourism. The world renowned software giants like Microsoft, Amazon.com, Nintendo of America have their bases in Washington.

With so many thriving industries its not wonder that the economy of Washington is prospering and the per capita income is $42,702 which is 17th in the nation. Any discourse on economy of Washington remains incomplete without even a passing mention of Bill Gates who is the second wealthiest man in the world is the best most famous billionaire from the state.

Other list of other famous Washington state billionaires include Paul Allen of Microsoft Jeffrey Bezos of Amazon, Craig McCaw of McCaw Cellular, James Jannard of Oakley and Howard Schultz of Starbucks. The top 20 admired companies of the world as surveyed by the Fortune magazine survey includes 4 Washington based companies in viz, Starbucks, Microsoft, Costco and Nordstrom.

Information about economy of Washington should also include the facts that Washington state generates considerable amount of hydroelectric too. Washington also shares significant amounts of trading relations different countries of with Asia which mainly take place through the ports of the Puget Sound. See list of United States companies by state. However one of the flaws of the economy of Washington is that it has the most regressive tax structure in the U.S. Washington is one of the few states of USA that does not levy a personal income tax. The wealthiest one percent of Washington taxpayers pay 3.2% of their income in taxes while poorest fifth of Washington taxpayers have to toil to pay 17.6% of their income in taxes.

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