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Milken Institute | Research | Publications | Research Reports: State Technology and Science Index 2012
 State Technology and Science Index 2012
State Technology and Science Index 2012
April 9, 2013
Regional Economics | Science | Technology
Publisher: Milken Institute
Buy Printed Version $20

Be sure to check out http://statetechandscience.org/. This site includes a number of features that allow visitors to tailor data according to their particular interests.
Massachusetts is first -- again -- in the Milken Institute's State Technology and Science Index 2012. The index tracks and evaluates every state's tech and science capabilities -- and their success at converting those assets into companies and high-paying jobs. Conducted every two years for the past decade, the index has found Massachusetts performing in first place in every edition.

The 2012 State Technology and Science Index looks at 79 unique indicators that are categorized into five major components: research and development inputs, risk capital and entrepreneurial infrastructure, human capital investment, technology and science work force, and technology concentration and dynamism. It is one of the most comprehensive examinations of state technology and science assets ever compiled.

The overwhelming trend this year is that technology and science are leading America's economic recovery. Competition at the very top has increased significantly, making it more difficult to break into the top 10. Indeed, the states in the top ten are the same as those in 2010, with only a few changes in rank:

The top 10 (with their previous index rankings in 2010):

1. Massachusetts (1)
2. Maryland (2)
3. California (4)
4. Colorado (3)
5. Washington (6)
6. Virginia (8)
7. Utah (5)
8. Delaware (10)
9. Connecticut (9)
10. New Hampshire (7)

This index shows the resurgence of the science and tech sectors, and the importance of innovation in state economies. States that are traditionally strong in science and technology have come out of the recession on the backs of those sectors.

Movers and shakers:

• California is back at number three, though still below its peak in 2002. A comeback in the tech sector played a big role in the Golden State's improved showing.
• Virginia leapfrogged two spots to sixth, largely on the strength of its performance in the risk capital category. But Virginia continues to fall in tech concentration and dynamism, a measure of business funding and establishment.
• Tennessee was the biggest gainer, jumping from 41st to 35th. The state made major inroads in a number of indicators, most notably, growth in the number of companies receiving venture capital and a huge increase in IPO proceeds.

Be sure to check out http://statetechandscience.org/. This site includes a number of features that allow visitors to tailor data according to their particular interests. It also contains an interactive map, videos, and slideshows of the top performing states.

 
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