What does the cryptic crossword clue "Depressed US state good for corporation? (3-3)" mean?

The wordplay uses a charade (building blocks). LOW (synonym="depressed") + CAL (synonym="CAL") = LOWCAL The answer is LOWCAL.

Depressed US state good for corporation? (3-3)

Guardian Cryptic #29463 | 3 Down | 2024-08-16 flower