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Over 1.3 million people help to make New Hampshire the 41st most populous state in the U.S. Major
cities and towns in the Granite State include Manchester,
Nashua, capital city Concord, Derry, Rochester, Salem, Dover, Merrimack,
Londonderry, and Hudson.
The Granite State does not rely upon widespread agriculture due to its mountainous terrain and
difficult soil. However, New Hampshire does offer important products such as dairy, nursery stock,
apples, cattle, and eggs.
Despite its "Granite State" nickname, granite no longer contributes significantly to New
Hampshire’s economy. Minerals currently extracted include sand, gravel, and stone. Timber is also an
important natural resource.
Manufacturing contributes greatly to the state’s economy. High technology, electric equipment and
other machinery, fabricated metal, plastics, and rubber products are all important.
Tourism is the top industry in New Hampshire today. With its mountains, lakes, beaches, cultural
heritage and folk crafts, the Granite State lures many tourists.
In 2005 New Hampshire had a per capita personal income (PCPI) of $37,768. The 1995-2005 average
annual growth rate of PCPI was 4.3 percent. The average annual growth rate for the nation was 4.1
percent. New Hampshire has a homeownership rate of 74 percent and an annual unemployment rate of 3.6
percent. The median family income in 2005 was $56,234 and the cost of living index for key cities in
the state ranks above the national average. New Hampshire has no general income tax and no sales tax,
although there is an 8% lodging and restaurant meal tax and a 7% tax on two-way communications.
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