Editing Midwestern United States (section)

== Economy ==
=== Farming and agriculture ===
{{Further|Corn Belt|Wheat production in the United States|History of agriculture in the United States}}
[[File:Pastoral-barn.jpg|thumb|A pastoral [[farm]] scene near [[Traverse City, Michigan]], with a classic American red [[barn]]]]
[[History of agriculture in the United States|Agriculture]] is one of the biggest drivers of local economies in the Midwest, accounting for billions of dollars worth of exports and thousands of jobs. The area consists of some of the richest farming land in the world.<ref>Greyson S. Colvin, T. Marc Schober: ''Investors' Guide to Farmland'' (2012) {{ISBN|978-1-4752-5845-5}}, p. 25</ref> The region's fertile soil combined with the steel plow has made it possible for farmers to produce abundant harvests of grain and cereal crops, including [[maize|corn]], [[wheat]], [[soybeans]], [[oats]], and [[barley]], to become known today as the nation's "breadbasket".<ref>[http://www.factmonster.com/ipka/A0875014.html The U.S. Department of State] Fact Monster. Retrieved June 2, 2011.</ref> [[Henry A. Wallace]], a pioneer of hybrid seeds, declared in 1956 that the Corn Belt developed the "most productive agricultural civilization the world has ever seen".<ref>Edward L. Schapsmeier and Frederick H. Schapsmeier, ''Prophet in Politics: Henry A. Wallace and the War Years, 1940–1965'' (1970) p, 234</ref> Today, the U.S. produces 40 percent of the world crop.<ref>Smith, C. Wayne., Javier Betrán, and E. C. A. Runge. ''Corn: Origin, History, Technology, and Production''. Hoboken, NJ: John Wiley, 2004. page 4. Print</ref>

The very dense soil of the Midwest plagued the first settlers who were using wooden [[Plough|plows]], which were more suitable for loose forest soil. On the prairie, the plows bounced around and the soil stuck to them. This problem was solved in 1837 by an Illinois [[blacksmith]] named [[John Deere (inventor)|John Deere]] who developed a [[steel]] moldboard plow that was stronger and cut the roots, making the fertile soils of the prairie ready for farming.{{citation needed|date=October 2016}} Farms spread from the colonies westward along with the settlers. In cooler regions, wheat was often the crop of choice when lands were newly settled, leading to a "wheat frontier" that moved westward over the course of years. Also very common in the antebellum Midwest was farming corn while raising [[Hog (swine)|hogs]], complementing each other especially since it was difficult to get grain to market before the canals and railroads. After the "wheat frontier" had passed through an area, more diversified farms including [[dairy cattle|dairy]] and [[beef cattle]] generally took its place.{{citation needed|date=October 2016}} The introduction and broad adoption of scientific agriculture since the mid-19th century contributed to economic growth in the United States.
[[File:maytag.jpg|thumb|right|Central [[Iowa]] cornfield, part of the [[Corn Belt]]]]
This development was facilitated by the [[Morrill Act]] and the [[Hatch Act of 1887]] which established in each state a [[land-grant university]] (with a mission to teach and study agriculture) and a federally funded system of [[agricultural experiment station]]s and [[cooperative extension]] networks which place [[extension agent]]s in each state. [[Iowa State University]] became the nation's first designated land-grant institution when the [[Iowa Legislature]] accepted the provisions of the 1862 Morrill Act on September 11, 1862, making Iowa the first state in the nation to do so.<ref name="point">{{cite web|title=Iowa State: 150 Points of Pride |url=http://www.ag.iastate.edu/coa150/pop8_20.php |publisher=Iowa State University |access-date=June 17, 2015 |url-status=dead |archive-url=https://web.archive.org/web/20150621154306/http://www.ag.iastate.edu/coa150/pop8_20.php |archive-date=June 21, 2015 }}</ref> [[Soybean]]s were not widely cultivated in the United States until the early 1930s, and by 1942, the U.S. became the world's largest soybean producer, partially because of World War II and the "need for domestic sources of fats, oils, and meal". Between 1930 and 1942, the United States' share of world soybean production skyrocketed from 3 percent to 46.5 percent, largely as a result of increase in the Midwest, and by 1969, it had risen to 76 percent.<ref>{{Cite book|title = History of World Soybean Production and Trade – Part 1|last1 = Shurtleff|first1 = William|publisher = Unpublished Manuscript, History of Soybeans and Soyfoods, 1100 B.C. to the 1980s|year = 2004|location = Soyfoods Center, Lafayette, California|last2 = Aoyagi|first2 = Akiko|url = http://www.soyinfocenter.com/HSS/production_and_trade1.php}}</ref>
Iowa and Illinois rank first and second in the nation in soybean production. In 2012, Iowa produced 14.5 percent, and Illinois produced 13.3 percent of the nation's soybeans.<ref name="ers.usda.gov" />

The [[tallgrass prairie]] has been converted into one of the most intensive crop producing areas in North America. Less than one tenth of one percent (<0.09%) of the original landcover of the tallgrass prairie biome remains.<ref>{{cite news|title=Carl Kurtz. ''Iowa's Wild Places: An Exploration With Carl Kurtz'' (Iowa Heritage Collection) Iowa State Press; 1st edition (July 30, 1996)}}</ref> States formerly with landcover in native tallgrass prairie such as Iowa, Illinois, Minnesota, Wisconsin, Nebraska, and Missouri have become valued for their highly productive soils.

The [[Corn Belt]] is a region of the Midwest where corn has, since the 1850s, been the predominant crop, replacing the native tall grasses. The "Corn Belt" region is defined typically to include Iowa, Illinois, Indiana, southern Michigan, western Ohio, eastern Nebraska, eastern Kansas, southern Minnesota, and parts of Missouri.<ref name="Hart 1986">Hart (1986)</ref> {{as of|2008}}, the top four corn-producing states were Iowa, Illinois, Nebraska, and Minnesota, together accounting for more than half of the corn grown in the United States.<ref name="usda">{{cite web|url=http://www.ers.usda.gov/statefacts|title=USDA ERS – State Fact Sheets|website=Ers.usda.gov|access-date=July 16, 2017}}</ref> The Corn Belt also sometimes is defined to include parts of South Dakota, North Dakota, Wisconsin, and Kentucky.<ref name="agcensus">{{cite web |url=http://www.agcensus.usda.gov/Publications/2007/Online_Highlights/Ag_Atlas_Maps/ |title=USDA – NASS, Census of Agriculture – 2007 Census Ag Atlas Maps |website=Agcensus.usda.gov |date=February 11, 2015 |access-date=July 16, 2017 |archive-date=October 20, 2017 |archive-url=https://web.archive.org/web/20171020110328/https://www.agcensus.usda.gov/Publications/2007/Online_Highlights/Ag_Atlas_Maps/ |url-status=dead }}</ref> The region is characterized by relatively level land and deep, fertile soils, high in organic matter.<ref name="Britannica">[https://www.britannica.com/EBchecked/topic/137792/Corn-Belt Corn Belt], Encyclopædia Britannica Online</ref>

Iowa produces the largest corn crop of any state. In 2012, Iowa farmers produced 18.3 percent of the nation's corn, while Illinois produced 15.3 percent.<ref name="ers.usda.gov">{{cite web|url=http://www.ers.usda.gov/data-products/state-fact-sheets/state-data.aspx?StateFIPS=19&StateName=Iowa#.U8Q5wbEXtQs|title= Iowa State Fact Sheets|website=Ers.usda.gov|access-date=June 17, 2015}}</ref> In 2011, there were 13.7&nbsp;million harvested acres of corn for grain, producing 2.36&nbsp;billion bushels, which yielded 172.0 bu/acre, with US$14.5&nbsp;billion of corn value of production.<ref name="iowaagriculture.gov">{{cite web|title=Iowa Agriculture Quick Facts 2011 |url=http://www.iowaagriculture.gov/quickfacts.asp |publisher=Iowa Department of Agriculture and Land Stewardship |access-date=June 17, 2015 |url-status=dead |archive-url=https://web.archive.org/web/20150618101414/http://www.iowaagriculture.gov/quickfacts.asp |archive-date=June 18, 2015 }}</ref>
[[File:Kansas Summer Wheat and Storm Panorama.jpg|thumb|[[Wheat production in the United States|Wheat production]] in [[Kansas]]]]
[[Wheat]] is produced throughout the Midwest and is the principal [[cereal]] grain in the country. The U.S. is ranked third in production volume of wheat, with almost 58&nbsp;million tons produced in the 2012–2013 growing season, behind only China and India (the combined production of all European Union nations is larger than China)<ref>{{cite web|url=http://apps.fas.usda.gov/psdonline/circulars/grain.pdf |title=India to Import Wheat as Stocks Remain Tight, While Exporting Ample Rice |website=Apps.fas.usda.gov |access-date=July 16, 2017}}</ref> The U.S. ranks first in crop export volume; almost 50 percent of total wheat produced is exported.{{citation needed|date=October 2016}} The [[United States Department of Agriculture|U.S. Department of Agriculture]] defines eight official classes of wheat: [[durum]] wheat, hard red spring wheat, hard red winter wheat, soft red winter wheat, hard white wheat, soft white wheat, unclassed wheat, and mixed wheat.<ref>{{cite web |url=http://www.gipsa.usda.gov/fgis/standards/810wheat.pdf |title=Subpart M -- United States Standards for Wheat |website=Gipsa.usda.gov |access-date=July 16, 2017 |archive-date=July 19, 2021 |archive-url=https://web.archive.org/web/20210719163310/https://www.gipsa.usda.gov/fgis/standards/810wheat.pdf |url-status=dead }}</ref> Winter wheat accounts for 70 to 80 percent of total production in the U.S., with the largest amounts produced in Kansas (10.8&nbsp;million tons) and North Dakota (9.8&nbsp;million tons). Of the total wheat produced in the country, 50 percent is exported, valued at US$9&nbsp;billion.<ref name="voanews.com">{{cite news|title=US Seeks Fast Test to Settle GM Wheat Scare|url=https://www.voanews.com/a/us-seeks-fast-test-to-settle-gm-wheat-sacre/1675319.html|access-date=June 11, 2013|newspaper=Voice of America|date=June 4, 2013}}</ref>

Midwestern states also lead the nation in other agricultural commodities, including [[pork]] (Iowa), [[beef]] and [[veal]] (Nebraska), [[dairy]] (Wisconsin), and [[chicken eggs]] (Iowa).<ref name="ers.usda.gov" />

===Finance===
[[File:Chicago bot.jpg|thumb|The [[Chicago Board of Trade]] floor in 1993. It is one of the world's oldest [[futures exchange|futures and options exchanges]].<ref>{{Cite news |last=Siler |first=Julia Flynn |url=https://www.nytimes.com/1989/02/21/business/at-chicago-boards-styles-differ.html |title=At Chicago Boards, Styles Differ |date=February 21, 1989 |work=The New York Times |access-date=February 24, 2020 |language=en-US |issn=0362-4331}}</ref>]]
[[Chicago]] is the largest economic and financial center of the Midwest, and has the third largest [[List of cities by GDP|gross metropolitan product]] in North America—approximately $689 billion, after the regions of New York City and Los Angeles. Chicago was named the fourth most important business center in the world in the MasterCard Worldwide Centers of Commerce Index.<ref>"[http://edition.cnn.com/2007/BUSINESS/06/13/global.economy/ London named world's top business center by MasterCard]", [[CNN]], June 13, 2007.</ref> The 2021 [[Global Financial Centres Index]] ranked Chicago as the fourth most competitive city in the country and eleventh in the world, directly behind Paris and Tokyo. The [[Chicago Board of Trade]] (established 1848) listed the first ever standardized "exchange traded" forward contracts, which were called [[futures contract]]s.<ref>{{cite web|url=http://www.cmegroup.com/company/history/timeline-of-achievements.html |title=Timeline-of-achievements |publisher=[[CME Group]]|access-date=January 20, 2013}}</ref> As a world financial center, Chicago is home to major financial and [[futures exchange]]s including the [[CME Group]] which owns the [[Chicago Mercantile Exchange]] ("the Merc"), [[Chicago Board of Trade]] (CBOT), the [[New York Mercantile Exchange]] (NYMEX), the [[Dow Jones Indexes]], and the Commodities Exchange Inc. (COMEX).<ref>{{cite web|url=http://www.cmegroup.com |title=Futures & Options Trading for Risk Management |publisher=CME Group |date=April 13, 2010 |access-date=November 6, 2011}}</ref> Other major exchanges include the [[Chicago Board Options Exchange]] (CBOE), the largest options exchange in the [[Western Hemisphere]]; and the [[Chicago Stock Exchange]]. In addition, Chicago is also home to the headquarters of the [[Federal Reserve Bank of Chicago]] (the Seventh District of the Federal Reserve).

Outside of Chicago, many other Midwest cities are host to financial centers as well. Federal Reserve Bank districts are also headquartered in [[Federal Reserve Bank of Cleveland|Cleveland]], [[Federal Reserve Bank of Kansas City|Kansas City]], [[Federal Reserve Bank of Minneapolis|Minneapolis]], and [[Federal Reserve Bank of St. Louis|St. Louis]]. Major United States bank headquarters are located throughout Ohio including [[Huntington Bancshares]] in Columbus, [[Fifth Third Bank]] in Cincinnati, and [[KeyCorp]] in Cleveland. Insurance Companies such as [[Elevance Health]] in Indianapolis, [[Nationwide Insurance]] in Columbus, [[American Family Insurance]] in Madison, Wisconsin, [[Berkshire Hathaway]] in Omaha, [[State Farm Insurance]] in Bloomington, Illinois, [[Reinsurance Group of America]] in [[Chesterfield, Missouri]], [[Cincinnati Financial Corporation]] and [[American Modern Insurance Group]] of Cincinnati, and [[Progressive Insurance]] and [[Medical Mutual of Ohio]] in Cleveland also spread throughout the Midwest.

===Manufacturing===
[[File:U.S. STEEL PLANT - NARA - 547097 (retouched).jpg|thumb|The [[Gary Works]] of [[Gary, Indiana]] is the largest integrated steel mill in North America.<ref>{{Cite web|url=http://ir.nisource.com/releasedetail.cfm?releaseid=58458 |title=U.S. Steel - Primary Energy Cogeneration Plant at Gary Works Wins National Recognition |website=NiSource, Inc. |date=October 14, 1999 |access-date=June 10, 2011 |url-status=dead |archive-url=https://web.archive.org/web/20071022151958/http://ir.nisource.com/releasedetail.cfm?releaseid=58458 |archive-date=October 22, 2007 }}</ref>]]
Navigable terrain, waterways, and ports spurred an unprecedented construction of [[transport]]ation [[infrastructure]] throughout the region. The region is a global leader in advanced manufacturing and research and development, with significant innovations in both production processes and business organization. [[John D. Rockefeller]]'s [[Standard Oil]] set precedents for centralized pricing, uniform distribution, and controlled product standards through Standard Oil, which started as a consolidated refinery in Cleveland. [[Cyrus McCormick]]'s Reaper and other manufacturers of agricultural machinery consolidated into [[International Harvester]] in Chicago. [[Andrew Carnegie]]'s steel production integrated large-scale open-hearth and [[Bessemer steel|Bessemer processes]] into the world's most efficient and profitable mills. The largest, most comprehensive monopoly in the world, [[United States Steel]], consolidated steel production throughout the region. Many of the world's largest employers began in the Great Lakes region.

Advantages of accessible waterways, highly developed transportation infrastructure, finance, and a prosperous market base makes the region the global leader in automobile production and a global business location. [[Henry Ford]]'s movable assembly line and integrated production set the model and standard for major car manufactures. The Detroit area emerged as the world's automotive center, with facilities throughout the region. [[Akron, Ohio]] became the global leader in rubber production, driven by the demand for tires. Over 200&nbsp;million tons of [[cargo]] are shipped annually through the Great Lakes.<ref>{{cite web|url=http://www.glerl.noaa.gov/pr/ourlakes/facts.html|title=About Our Great Lakes -Great Lakes Basin Facts- |website=NOAA Great Lakes Environmental Research Lab |access-date=May 7, 2016|url-status=dead|archive-url=https://web.archive.org/web/20120308072531/http://www.glerl.noaa.gov/pr/ourlakes/facts.html|archive-date=March 8, 2012}}</ref><ref>{{cite web|url=http://www.great-lakes.net/econ/|title=Economy of the Great Lakes Region|access-date=May 7, 2016|archive-url=https://web.archive.org/web/20120504230612/http://www.great-lakes.net/econ/|archive-date=May 4, 2012|url-status=dead |website=Great Lakes Information Network }}</ref><ref>{{cite web |url-status=dead |website=U.S Army Corps of Engineers |url=http://www.lre.usace.army.mil/ETSPubs/HFS/Great%20Lakes%20Navigation-Economic%20Strength%20to%20the%20Nation.pdf |title=Great Lakes Navigation System: Economic Strength to the Nation |archive-url=https://web.archive.org/web/20110718041740/http://www.lre.usace.army.mil/ETSPubs/HFS/Great%20Lakes%20Navigation-Economic%20Strength%20to%20the%20Nation.pdf |archive-date=July 18, 2011 |access-date=July 27, 2010 |date=January 2009}}</ref>