Rhode Island Economy

RHODE ISLAND ECONOMY
With the establishment of the water-powered Slater Mill in Pawtucket, in 1793, Rhode Island became the cradle of the Industrial Revolution in America. Over time the state has developed a modern diversified economy providing employment for approximately 473,800 Rhode Island residents. Total personal income in Rhode Island increased 48.5 percent from 1988 to $26.5 billion in 2002.
Rhode Island's per capita income of $26,797 is slightly above the national average and ranked 15’th highest of the 50 states. The overall direction of the State economy has been from the Goods Producing to the Service Producing sector. Employment in the service-producing sector increased 11.7 percent since 1988. Business services is the fastest growing major group generating over 11,000 new jobs in since 1980.
Rhode Island's Goods Producing Sector
On 2002 , the number of jobs in Rhode Island's Goods Producing Sector totaled 94,400. The $3.8 billion in earnings derived from the Goods ...