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Smithfield is considered a Large Town with a population of 30,482 and 2,696 businesses. 30 in 2018 were added to the Smithfield Chamber of Commerce business directory which was more than 2017 which had 20.

The economy of Smithfield employs 15,424 people and has an unemployment rate of 7.7%. Some of the largest industries in Smithfield are Professional Services (168),Restaurants (84), and Attorneys (54).
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