The United States has encountered a major decline in the last few years causing many people to lose money and for some their jobs. Even with these hardships our country has faced in recent years, Alabama has managed to keep a fairly stable economy. The economy in Alabama is more stable than many other states are currently in the United States due to many reasons like booming resources and industries.
Alabama is a state rich in many fields such as industry, manufacturing, crops, and natural resources. Different industries include pulp and paper, chemicals, electronics, apparel, textiles, lumber and wood products, primary metals, fabricated metals, food processing, automotive tires, and many more.
The main manufacturing products of Alabama are electronics, cast iron and plastic pipe, fabricated steel products, ships, paper products, chemicals, steel, mobile homes, fabrics, poultry processing, soft drinks, furniture, and tires. All these industries really help create a stable economy for the state.
Alabama’s chief crops are cotton, sweet potatoes, peanuts, potatoes, and other vegetables. The state of Alabama also has an abundance of natural resources like coal, limestone, marble, sand, and clay. These natural resources have to be mined or extracted which means many more job opportunities that must be filled in order to take advantage of these resources. All these fields greatly contribute to create a stable economy for the state.
Alabama has more than enough resources and industry that it shares with the rest of the country. Being located on the Gulf of Mexico makes it a prime location for the growing markets in Mexico as well as South America.
Alabama is considered an important business hub for the American, Mexican, and South American markets. Alabama’s economy is also doing so well because of its low tax rate. Alabama still has the lowest taxes in the nation because of its low property and low income tax rates.
With the current state of the nation’s economy, living and working in Alabama has many wonderful benefits because of the lower taxes. With jobs being so scarce, the unemployment rate in the United States is at an all time high. Alabama’s unemployment rate is also better than the national average thanks to its numerous resources. With so many different job fields and opportunities Alabama’s economy is thriving even through the nation’s economic despair. Alabama has managed to keep its industries