California continues to improve its high-tech growth and remains the most important state for science and technology. Despite this, the state faces a number of challenges to remain economically competitive.
Investing in human capital must be of top priority for California, whose performance in technology and science dropped from third in 2012 to fourth place nationwide, the same spot it held in 2010. This latest California-specific report investigate the factors behind this decline.
The index, the Institute's fifth since 2002, is a bellwether of the state's economic performance, which relies heavily on its vital tech and science assets. A complement to the Institute's national State Technology and Science Index 2012, the California version provides key stakeholders with direct evidence of how the state is faring in the sectors that are most likely to impact the state's future economic position.
States with proportionately greater access to talent, research and investment capital--such as Massachusetts, Maryland, Washington, Utah and even New York--present the biggest competitive threat to California when it comes to high-technology jobs.
The ranking consists of five composite indexes, themselves comprising 79 indicators. The five major composite indexes are of human capital investment, technology concentration and dynamism, technology and science workforce, risk capital and entrepreneurial infrastructure and research and development inputs. The analysis provides insight into state trends that determine future economic outcomes from innovative productivity.