What is West Virginia main source of income?

What is West Virginia main source of income?

Coal
Coal is West Virginia’s most important mined product and the state leads is among the country’s leaders in coal production. About 75% of West Virginia’s mining income is derived from coal.

What is the biggest industry in West Virginia?

mining
In West Virginia, mining is the largest industry, accounting for 5.4% of the state’s total GDP of $78.9 billion. The industry’s annual economic output totals $4.3 billion, a 6.2% increase over the last five years. Overall employment in the industry totals about 14,300, or 1.9% of all jobs in West Virginia.

How does West Virginia make money?

West Virginia is considered a national energy hub, leading the nation in net interstate electricity exports and underground coal mine production, while experiencing a growing natural gas industry as a result of the Great Shale Gas Rush.

What industry is in West Virginia?

West Virginia is also a leading state in energy. The economy of West Virginia is also diversified in areas such as aerospace, automotive, manufacturing, telecommunications, media, education, healthcare, hospitality, metals and steel, forestry, biometrics and tourism.

Is West Virginia rich or poor?

West Virginia is the second-poorest U.S. state, with a $48,850 median household income and a poverty rate of 17.54%. West Virginia’s educational attainment levels are on the low side, with the lowest percentage of adults with a Bachelor’s degree or higher, and has the second-lowest life expectancy of 74.8.

Is West Virginia a rich state?

This time the state has ranked 50th as the poorest State in the United States. The survey by 24/7 Wall Street based its low findings for the Mountain State on the median household income.

Is West Virginia the poorest state in America?

Is West Virginia the poorest state in the US?

West Virginia is the third poorest state in the United States of America, with a per capita income of $23,450 (2015).

What kind of economy did West Virginia have?

During Reconstruction, the new 35th state’s mineral resources industries boomed, and logging and coal mining both remain important parts of the state’s economy today. West Virginia also played a pivotal role in the Industrial Revolution with the development of bituminous coal, a cheaper alternative to wood.

What makes up the mining industry in West Virginia?

About 75% of West Virginia’s mining income is derived from coal. Other important mined products are natural gas, accounting for about 20% of the state’s mining income, petroleum, crushed stone, salt and sand and gravel. The community, business and personal services group accounts for the largest share of gross product in the services industry.

What is the median household income in West Virginia?

In 2018, the county with the highest Median Household Income in West Virginia was Berkeley County, WV with a value of $59,328, followed by Monongalia County, WV and Harrison County, WV, with respective values of $50,834 and $46,569.

What kind of energy does West Virginia have?

Overall, it produces 15% of the nation’s fossil fuel energy. The state’s underground natural gas storage represents 6% of the nation’s total, and overall it has 5.1 billion cubic feet of natural gas reserves through 2008 estimates. West Virginia was one of the first states to engage in drilling for oil.