The diversity-productivity relationship has not been studied as extensively in forests as in other ecosystems. We address this gap in our knowledge by examining the relationship of productivity (primarily the periodic annual increment in aboveground biomass, but also the mean annual increment) with five species diversity indices, stand, and environmental factors. We used 967 naturally regenerated Forest Inventory and Analysis plots with stand age ≤30 years, located in the conterminous thirty-one eastern states, and satisfying strict selection requirements. Generally, mixed-species (heterospecific) stands were as productive as or even somewhat more productive than pure (monospecific) stands. The periodic and mean annual increments were both positively correlated with species richness (R2 = 0.04 and 0.20, p<0.001). Similarly, the zero-order and partial correlations with productivity were positive for four of the diversity indices (species richness, functional diversity, phylogenetic diversity, and phylogenetic species richness) and not significant for the fifth (functional dispersion). Greater diversity was more important on low-productivity sites and in stands with low stocking. As forests generally get more diverse and productive away from the poles, we tested if the nature of the productivity-diversity relationship changed latitudinally. Productivity was weakly positively correlated with four of the diversity indices north of 40° latitude, but weakly negatively with three of the indices to the south. Our examination of the productivity-diversity relationship in stands containing either of the two most dominant species, quaking aspen or loblolly pine, revealed that pure loblolly pine stands were somewhat more productive than only three of the eight mixtures with loblolly in the composition, while pure aspen stands were no more productive than any of the aspen mixtures. Overall, monospecific stands did not seem to have a clear productivity advantage over mixtures. The findings of this study have implications for woody biomass production, carbon sequestration by forests, and biodiversity conservation.