State Technology and Science Index: Enduring Lessons for the Intangible Economy
Ross DeVol and Rob Koepp, with Junghoon Ki
The 2004 State Technology and Science Index encapsulates each state's comprehensive inventory of technology and science assets that can be leveraged to promote economic development.
The Index provides states with a benchmark, monitors their technology progress and can be leveraged to promote economic growth. It provides a valuable framework of measures to guide state policy makers and the public on the realities of their performance in the knowledge-based economy of today.
The index uses 75 indicators in five categories to measure how well a state will perform in today's knowledge-based economy. The five composite categories are:
- Research and development inputs;
- Risk capital and entrepreneurial infrastructure;
- Human capital investment;
- Technology and science workforce; and
- Technology concentration and dynamism.
Individual indicators include a wide range of measurements such as the percentage of a state's population with Ph.D.s, research and development expenditures per capita, and venture capital investment.
"Places that can attract, grow and retain firms and industries proficient at deploying information technology, in addition to producing it, will be at a competitive advantage," the report says. "The degree to which a state's knowledge assets are harnessed and converted into successful innovations, products and services determine its economic future."
How do the states fare? View 2004 ranking.
In addition to the report, the Institute has put together rankings for all 50 states for all 75 measurements as a separate purchase for $195. If you would like to purchase these rankings, please contact us at 310-570-4600, or e-mail us at firstname.lastname@example.org.
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If you are interested in conducting a detailed analysis of your state's ranking on the Technology and Science Index, please contact Roubina Arakelian at the Milken Institue by e-mail (email@example.com) or phone (310-570-4657). She will be glad to arrange a time for you to speak with the study's primary author, Ross DeVol, Director, Regional Economics.