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Indiana Economy

The United States has become a service economy and many states, Indiana included, generate most of their revenue through service industries.

Agriculture

In terms of revenue generated, Indiana's top five agricultural products are corn for grain, soybeans, hogs, dairy products, and chicken eggs.

Livestock

Hogs are Indiana's most valuable livestock product, followed by milk, beef cattle and eggs.

Other livestock products are turkeys, ducks and sheep.

Crops

Corn and soybeans are Indiana's most valuable farm products and Indiana is a leading producer among the states. Other important crops are wheat and hay.

Tomatoes are Indiana's leading "vegetable" crop. (We know that tomatoes are a fruit, but they're categorized as a vegetable in this case.) Other Indiana vegetables are cucumbers, onions, potatoes, snap beans and sweet corn.

Leading fruits are apples, blueberries and watermelons.

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Manufacturing

Manufacturers add value to raw products by creating manufactured items. For example, cotton cloth becomes more valuable than a boll of cotton through manufacturing processes.

Manufacturing contributes more to the gross state product in Indiana than it does in most other states.

Manufacture of transportation equipment (motor vehicle parts, aircraft parts, automobile assembly, truck and bus bodies, truck trailers, motor homes, railroad cars) ranks first in this sector. Indiana is a leading producer of automobile parts, truck and bus bodies, truck trailers and motor homes.

Ranked second in the manufacturing sector is the production of primary metals, steel being the most important. Indiana is also an important aluminum producing state.

Mining

A leading coal-producing state, bituminous coal contributes about 3/4 of Indiana's mining income.

Other products are crushed stone, sand and gravel. Limestone quarries produce crushed stone for roadways and building stone for construction.

Clays and gypsum are also produced in the state.

Services

Wholesale (farm products, groceries, metal products, transportation equipment) and retail (automobile dealerships, department stores, grocery stores, restaurants) trade comprise Indiana's leading service industries.

Community, business and personal services (doctors' offices, private hospitals, hotels and motels, law firms, repair shops) rank second.

The finance, insurance, and real estate industries rank third in the services sector, with real estate important due to the large sums of money involved in the development of new homes, office buildings and other types of property.

Sources

David L. Anderson and Michael E. Sullivan, "Indiana," World Book Online Americas Edition, http://www.worldbookonline.com/wbol/wbPage/na/ar/co/275040, August 14, 2001.

U.S. Department of Agriculture: National Agricultural Statistics Service, "Indiana State Agriculture Overview, 2004", 3 January 2006, <http://www.nass.usda.gov/Statistics_by_State/Ag_Overview/AgOverview_IN.pdf> (12 January 2006)

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