Vermont

Vermont is a state in the New England region of the northeastern United States of America. The state ranks 43rd in land area, 9,250 square miles (24,000 km2), and 45th in total area. Its population according to the 2010 census, 630,337, is the second smallest in the country, larger only than Wyoming. It is the only New England state not bordering the Atlantic Ocean. Vermont is the smallest landlocked U.S. state, and is one of two landlocked states in the northeast (the other being Pennsylvania). Lake Champlain forms half of Vermont's western border, which it shares with the state of New York. The Green Mountains are within the state. It is bordered by Massachusetts to the south, New Hampshire to the east, New York to the west, and the Canadian province of Québec to the north.

Originally inhabited by two major Native American tribes (the Algonquian-speaking Abenaki and the Iroquois), much of the territory that is now Vermont was claimed by France in the early colonial period. France ceded the territory to the Kingdom of Great Britain after being defeated in 1763 in the Seven Years' War (also called the French and Indian War). For many years, the nearby colonies, especially New Hampshire and New York, disputed control of the area (then called the New Hampshire Grants). Settlers who held land titles granted by these colonies were opposed by the Green Mountain Boys militia, which eventually prevailed in creating an independent state, the Vermont Republic. Founded in 1777, during the Revolutionary War, it lasted for fourteen years. While independent, it abolished slavery. When it joined the Union, it was the first state to have abolished slavery. Vermont is one of seventeen U.S. states (along with Texas, Hawaii, the brief California Republic, and each of the original Thirteen Colonies) that each once had a sovereign government. In 1791, Vermont joined the United States as the fourteenth state and the first outside the original Thirteen Colonies.

Vermont is the leading producer of maple syrup in the United States. The state capital is Montpelier, which with 7,705 people is the least-populated state capital in the country. Its most populous city is Burlington, which has a metro population of 211,261 residents.

Economy

In 2007, Vermont was ranked by Forbes magazine as 32nd among states in which to do business. It was 30th the previous year. In 2008, an economist said that the state had "a really stagnant economy, which is what we are forecasting for Vermont for the next 30 years. In May 2010, Vermont's 6.2 percent unemployment rate was the fourth lowest in the nation. This rate reflects the second sharpest decline among the 50 states since the prior May.

According to the 2005 U.S. Bureau of Economic Analysis report, Vermont's gross state product (GSP) was $23 billion. This places the state 50th among the 50 states. It stood 38th in per capita GSP.

Components of GSP were:

Government – $3,083 million (13.4%)

Real Estate, Rental and Leasing – $2,667 million (11.6%)

Durable goods manufacturing – $2,210 million (9.6%)

Health Care and Social Assistance – $2,170 million (9.4%)

Retail trade – $1,934 million (8.4%)

Finance and Insurance – $1,369 million (5.9%)

Construction – $1,258 million (5.5%)

Professional and technical services – $1,276 million (5.5%)

Wholesale trade – $1,175 million (5.1%)

Accommodations and Food Services – $1,035 million (4.5%)

Information – $958 million (4.2%)

Non-durable goods manufacturing – $711 million (3.1%)

Other Services – $563 million (2.4%)

Utilities – $553 million (2.4%)

Educational Services – $478 million (2.1%)

Transportation and Warehousing – $484 million (2.1%)

Administrative and Waste Services – $436 million (1.9%)

Agriculture, forestry, fishing, and hunting – $375 million (1.6%)

Arts, Entertainment, and Recreation – $194 million (.8%)

Mining – $100 million (.4%)

Management of Companies – $35 million (.2%)

Canada was Vermont's largest foreign trade partner in 2007. The state's second largest foreign trade partner was Taiwan.The state had $4 billion worth of commerce with Québec.

One measure of economic activity is retail sales. The state had $5.2 billion in 2007. In 2008, 8,631 new businesses were registered in Vermont, a decline of 500 from 2007.

Personal income

The median household income from 2002 to 2004 was $45,692. This was 15th nationally. The median wage in the state in 2008 was $15.31 hourly or $31,845 annually. About 80 percent of the 68,000 Vermonters who qualify for food stamps, actually received them in 2007. 40 percent of seniors 75 years or older live on annual incomes of $21,660 or less.

Agriculture

Agriculture contributes $2.6 billion, about 12 percent, directly and indirectly to the state's economy. However, another study claims that agriculture contributes 2.2 percent of the state's domestic product. In 2000, about 3 percent of the state's working population engaged in agriculture.