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Kentucky Economy
About half of Alabama
After its admission to the Union as the
fifteenth state, Kentucky prospered and agriculture became the economic mainstay
for the Commonwealth. Tobacco had become Kentucky's primary cash crop by 1787.
Kentucky was also a leading producer of the world's hemp supply, used for making
rope and fiber products until jute became popular in the early 1900's. Corn,
also produced in Kentucky, was difficult to transport in dried form, and was
transported more easily when distilled into whiskey.
After the Civil War ended, slavery was illegal. As a result, Kentucky’s economy
suffered a depression that hit most of the South. Hemp production was the most
affected as cotton production declined and traffic along the Mississippi and
Ohio Rivers decreased. Kentucky continued to lead the nation in growing tobacco.
An interest in horse racing led many to raise thoroughbred horses. Several new
mines opened as railroad expansion increased the need for coal and oil.
Large-scale coal mining in eastern Kentucky's mountains began in the early
1900's as the railroads penetrated the previously isolated area. After periods
of major labor conflicts during the 1930's and fluctuation in the demand for
coal, the industry has achieved an important place in the Kentucky economy, and
Kentucky has become one of the nation's leading coal-producing states.
In 1933, the federal government created jobs through the Tennessee Valley
Authority (TVA) program. Dams were built along the Tennessee and Cumberland
Rivers and throughout the state. Many worked on state highways and others
conserving natural resources.
World War II (1939-1945) also created jobs with the U.S. military and supplying
weapons and food to U.S. soldiers. During the 1960s, the coal industry grew
rising to second place nationally. The TVA began building recreational areas in
western Kentucky and a steam-generating plant in Paradise.
During the late 1950's, Kentucky emerged as an industrial state. Today,
manufacturing is Kentucky's largest industry group. Kentucky's largest industry
groups, based on their contribution to the total state gross product in 1996,
are manufacturing; services; finance, insurance, and real estate; retail trade;
transportation and public utilities; government; wholesale trade; construction;
mining; farming; and agricultural services, forestry, and fisheries.
With six national areas, 49 state parks, and hundreds of recreational, natural,
historic, and cultural attractions, Kentucky abounds in travel opportunities.
Tourism and travel is Kentucky's third largest revenue-producing industry,
contributing $8.8 billion to the state's economy in 2001. Tourism and travel is
also the second largest private employer, providing 168,500 jobs.
Kentucky Economic Information from
Teachersfirst.com
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