Ohio vs Missouri – Economic Situation In The US States
Our today’s article will describe the economic situation in Ohio and Missouri. We collect some information that may bring some clarity in the position of these two US states.
Ohio – one of the scientific research centers
The state of Ohio has a well-developed and diverse economy. It is consistently among the top ten US states in terms of gross domestic product. If Ohio were an independent state, it would occupy the 20th place in the list of the richest countries in the world.
Various industries, agriculture, and tourism are very well developed in the state. About 8% of Ohio’s GDP is accounted for by the financial sector of the economy (banks, insurance companies, etc.)
Ohio is one of the largest centers of scientific research in the United States (according to some estimates, it is the second after California). The state is developing in the field of energy, medicine, aeronautics, space exploration, agriculture.
Ohio economy situation
In 2019, Ohio’s real GDP was $54.1 billion. In 2019, Ohio’s per capita GDP was $70,991.
Aircraft engine manufacturing accounts for nearly 75% of the workforce in Ohio’s aerospace and defense industries. Dayton is designated as the aerospace center of the state due to the high concentration of aerospace and aviation technologies. Biological sciences accounted for a significant part of the Ohio economy with production of about 15%. Other sectors of the economy include: healthcare, pharmacies, education, agriculture, energy, research and development, etc.
Payday Loans in Ohio state and its large cities
|Interest Rate (APR)||28%|
|Maximum Loan Amount||$1,000|
|Minimum Loan Term||91 days|
|Maximum Loan Term||1 year|
If you live, for example, in Columbus, OH, you will need a demand in extra cash, you may get all the information about available payday lending product following the link – https://www.tcbol.com/payday-loans-columbus-ohio/. Every Internet user may get acquainted with the information free of charge. It will show you the main benefits this financial product has.
State of Missouri -Jefferson City, the capital of the state
Missouri is a state in the center of the United States, belongs to the area of the Northwest Center. According to one version, Missouri is translated from the Indian language as a settlement of large canoes.
- The area is 180.5 thousand square km, the 21st place in the USA.
- The population is 54,090 inhabitants, the 16th place in the USA.
- GDP — $ 145.1 billion, the 16th place in the USA.
- Personal income per capita — $ 23,700, 26th place in the USA.
- It has been part of the United States as a state since 1821 (the 15th in time of occurrence).
- Capital: Jefferson City.
The economic situation of the Missouri state
The main sectors of the Missouri economy are the service sector, industry, agriculture and mining.
The main mineral resources of the state are lead ores and limestone. Missouri produces more lead than any other US state (according to some sources – up to 90% of the national production of this metal, excluding secondary raw materials). The huge reserves of limestone make Missouri one of the leading producers of lime in the USA – one of the components used in the production of cement.
In addition, coal, zinc ores, crushed stone and some other minerals are mined in the state.
Payday loans in Missouri
|Interest Rate (APR)||443%|
|Minimum Loan Amount||Not specified|
|Maximum Loan Amount||$500|
|Minimum Loan Term||14 days|
|Maximum Loan Term||31 days|
|Number of Rollovers||6 times|
A payday loan is the same loan under which you can borrow the required amount of money for a certain period of time. Repayment of the debt is carried out by making monthly payments to the specified account. In addition to the debt itself, the borrower must also pay the interest accrued in accordance with the contract.
Ohio and Missouri are two profitable states where economic climate is developed on the same level. Where to live or move to, every person should decide by himself assessing other living criteria.
Tags: economy, finance, Missouri, Ohio, payday loans