Wyoming has gained the most value out of all 50 states from IPOs.

Initial public offerings (IPOs-the first round of companies' stock sold when they debut in public markets) is an important way in which high growth companies obtain needed capital to enable their next round of growth. States with small- and medium-sized economies can disproportionately boost their economies by attracting a few large deals. Wyoming and Tennessee, ranked first and second this year on the Index' IPO indicator, are two such examples. Wyoming's sole IPO in 2009, Cloud Peak Energy's $459 million dollar public offering, constituted 1.6 percent of gross state product.