Vermont is a state in the New England region of the northeastern United States of America. The state ranks 43rd by land area, 9,250 square miles (24,000 km2), and 45th by total area. It has a population of 621,270, making it the second least-populated state. The only New England state with no coastline along the Atlantic Ocean, Vermont is notable for Lake Champlain (which makes up 50 percent of Vermont's western border) and the Green Mountains, which run north to south. 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.
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. The per capita personal income was $32,770 in 2004