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Virginia's first cash crop was and continues to be tobacco. It grows very well in the state and produces a great deal of money for them.
Sugarcane was not a major cash crop in the South. Some of the major cash crops were cotton and tobacco.
While the Northern colonies (and later states), relied on trade and industry as the main drivers of their economies, the Southern states, including Virginia, relied mainly on agriculture. Tobacco has been a major cash crop in North America since it was first colonized, and many tobacco plantations in Virginia can trace their history back hundreds of years.
Jamestown was best known for cash crop farming.