The Great Depression of the 1930s severely dislocated the state’s economy, especially in the one-industry towns. The effort made then to broaden economic activities has been continually intensified. The recent establishment of important new industries such as electronics has successfully counterbalanced the departure to other states of older industries such as textiles.
In the 1980s, New Hampshire produced many new jobs and had one of the fastest growing economies in the United States. The state benefits from its close proximity to the Boston metropolitan area with its many high-technology firms, but when Massachusetts experiences a recession like that of the late 1980s and early 90s, New Hampshire is similarly affected.