Background on the New England Economy

New England comprises the following six northeastern U.S. states (and their state capitals):
Connecticut (Hartford)
Maine (Augusta)
Massachusetts (Boston)
New Hampshire (Concord)
Rhode Island (Providence)
Vermont (Montpelier)

The New England economy can be thought of as unique: it is geographically compact and relatively remote from other parts of the country; its climate and natural resource endowments are dissimilar to many other regions of the United States. In addition, because nearly one-half of its population is concentrated in Massachusetts and more than three-quarters in Massachusetts and Connecticut, the New England economy is subject to relatively similar sets of conditions. New Englanders often think of themselves as a region.

New Englanders export specialized machines and gauges, weaponry, and a few resource-based products. Although the region exports food products, from sea urchins to maple syrup, more importantly however are industrial products using New England's educated work force. Two such industries, industrial and commercial machinery (including computers), and electronic and electrical equipment, account for close to half the region's exports. Add in instruments, chemicals, and transportation equipment and the largely high-tech share comes to 75 percent. New England is not simply a miniature version of the country. The region's industrial mix is quite distinctive and ranks high in manufacturing.

Of great importance to the New England economy are the Services industries. Tourism, Education, Financial and Insurance services, and Architectural, Building and Construction services play vital roles in the economic wellbeing of the region.