Washington state ranks #2 in global, innovation-based new economy

Massachusetts, Washington, Maryland, New Jersey, and Connecticut are the top five states at the forefront of the nation's movement toward a global, innovation-based new economy, according to report released by ITIF and the Ewing Marion Kauffman Foundation. The State New Economy Index uses 26 indicators to assess states' fundamental capacity to successfully navigate the shoals of economic change. It measures the extent to which state economies are knowledge-based, globalized, entrepreneurial, IT-driven and innovation-based – in other words, to what degree state economies' structures and operations match the ideal structure of the New Economy. The 2010 Index builds on four earlier Indexes, published in 1999, 2002, 2007 and 2008.

Innovation and economic growth are key components of resolving state budget challenges. Many jobs lost in the recession are never coming back. This has created an imperative to develop new jobs, business models and industries. The states are on the front line of this effort and it is more important than ever for them to embrace innovation. Tax, regulatory and program funding should not undermine a state's innovation capacity and thereby prospects for job creation, exports and economic growth.

DOWNLOAD PDF | Read the full report.

 

Overall State Innovation Rankings
1. Massachusetts	18. Texas	35. Indiana
2. Washington	19. Georgia	36. North Dakota
3. Maryland	20. Arizona	37. Montana
4. New Jersey	21. Florida	38. Iowa
5. Connecticut	22. Pennsylvania	39. South Carolina
6. Delaware	23. Vermont	40. Hawaii
7. California	24. North Carolina	41. Tennessee
8. Virginia	25. Ohio	42. Oklahoma
9. Colorado	26. Kansas	43. Louisiana
10. New York	27. Idaho	44. Kentucky
11. New Hampshire	28. Maine	45. South Dakota
12. Utah	29. Wisconsin	46. Wyoming
13. Minnesota	30. Nevada	47. Alabama
14. Oregon	31. Alaska	48. Arkansas
15. Illinois	32. New Mexico	49. West Virginia
16. Rhode Island	33. Missouri	50. Mississippi
17. Michigan	34. Nebraska

Download the 2010 State New Economy Index.

Download the 2008 State New Economy Index.

Download the 2007 State New Economy Index.

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