San Francisco, California -According to American Entrepreneurship Today, using 105 metrics to determine the knowledge economies of each state, the Milken Institute released its ranking of states in the areas of science and technology. While Massachusetts was ranked No. 1, New Jersey was noted for its movement up six spots from No. 20 to No. 14, one of two states with the largest gains---New Mexico being the other.
Using 105 metrics to determine the knowledge economies of each state, the Milken Institute released its ranking of states in the areas of science and technology. While Massachusetts was ranked No. 1, New Jersey was noted for its movement up six spots from No. 20 to No. 14, one of two states with the largest gains---New Mexico being the other.
New Jersey’s improvement was attributed to industry funding for research and development and its life sciences industry. Most notable was that 13 of the top 20 pharmaceutical companies maintain a presence in the state. New Jersey Governor Phil Murphy feels this not only reflects on New Jersey being a business friendly state, but one with distinct advantages for businesses to grow.
“New Jersey provides life sciences companies a large pool of top talent and a vast network of companies and universities engaged in novel research and development programs,” said Governor Murphy. “We welcome investors and companies alike to explore the array of financial and mentorship resources the state offers to help fuel their growth.”
The 2020 Milken Institute State Technology and Science Index is a biennial assessment of each state’s science and technology capabilities in terms of opportunities for job growth and wealth creation. No. 1 Massachusetts was followed by No. 2 Colorado and No. 3 California.
The Index over the past two decades has provided a template for state governments and business leaders to assess their economic growth efforts over the long-term. This year the Index introduced insight about the challenges faced by states and identified the states that will be able to best recover from the pandemic.
“The states positioned to grow in the post-COVID reality are those that have strong STEM workforces, that maintain and support universities that produce graduates to fill the jobs of the future, and that have the entrepreneurial environment to create those jobs,” said Kevin Klowden, report author and Executive Director of the Milken Institute Center for Regional Economics and the California Center.
Notable findings about the top three states: include:
“Movement in the rankings, particularly for states in the lower tiers, highlights the impact policy choices can have on economic growth, such as whether policy makers and business executives focus on an integrated approach to funding innovative research and helping new technologies reach the market,” added Klowden.
The metrics comprising the Index for assessing knowledge economies include: “government research and development funding, entrepreneurial activity such as patents and venture capital investment, and the proportion of each state’s workforce in high-tech industries”.
Kevin Klowden, Aaron Melaas, Charlotte Kesteven, and Sam Hanigan are co-authors of the Index. The full rankings and report may be accessed here.
Using 105 metrics to determine the knowledge economies of each state, the Milken Institute released its ranking of states in the areas of science and technology. While Massachusetts was ranked No. 1, New Jersey was noted for its movement up six spots from No. 20 to No. 14, one of two states with the largest gains---New Mexico being the other.
New Jersey’s improvement was attributed to industry funding for research and development and its life sciences industry. Most notable was that 13 of the top 20 pharmaceutical companies maintain a presence in the state. New Jersey Governor Phil Murphy feels this not only reflects on New Jersey being a business friendly state, but one with distinct advantages for businesses to grow.
“New Jersey provides life sciences companies a large pool of top talent and a vast network of companies and universities engaged in novel research and development programs,” said Governor Murphy. “We welcome investors and companies alike to explore the array of financial and mentorship resources the state offers to help fuel their growth.”
The 2020 Milken Institute State Technology and Science Index is a biennial assessment of each state’s science and technology capabilities in terms of opportunities for job growth and wealth creation. No. 1 Massachusetts was followed by No. 2 Colorado and No. 3 California.
The Index over the past two decades has provided a template for state governments and business leaders to assess their economic growth efforts over the long-term. This year the Index introduced insight about the challenges faced by states and identified the states that will be able to best recover from the pandemic.
“The states positioned to grow in the post-COVID reality are those that have strong STEM workforces, that maintain and support universities that produce graduates to fill the jobs of the future, and that have the entrepreneurial environment to create those jobs,” said Kevin Klowden, report author and Executive Director of the Milken Institute Center for Regional Economics and the California Center.
Notable findings about the top three states: include:
“Movement in the rankings, particularly for states in the lower tiers, highlights the impact policy choices can have on economic growth, such as whether policy makers and business executives focus on an integrated approach to funding innovative research and helping new technologies reach the market,” added Klowden.
The metrics comprising the Index for assessing knowledge economies include: “government research and development funding, entrepreneurial activity such as patents and venture capital investment, and the proportion of each state’s workforce in high-tech industries”.
Kevin Klowden, Aaron Melaas, Charlotte Kesteven, and Sam Hanigan are co-authors of the Index. The full rankings and report may be accessed here.
New Jersey’s improvement was attributed to industry funding for research and development and its life sciences industry. Most notable was that 13 of the top 20 pharmaceutical companies maintain a presence in the state. New Jersey Governor Phil Murphy feels this not only reflects on New Jersey being a business friendly state, but one with distinct advantages for businesses to grow.
“New Jersey provides life sciences companies a large pool of top talent and a vast network of companies and universities engaged in novel research and development programs,” said Governor Murphy. “We welcome investors and companies alike to explore the array of financial and mentorship resources the state offers to help fuel their growth.”
The 2020 Milken Institute State Technology and Science Index is a biennial assessment of each state’s science and technology capabilities in terms of opportunities for job growth and wealth creation. No. 1 Massachusetts was followed by No. 2 Colorado and No. 3 California.
The Index over the past two decades has provided a template for state governments and business leaders to assess their economic growth efforts over the long-term. This year the Index introduced insight about the challenges faced by states and identified the states that will be able to best recover from the pandemic.
“The states positioned to grow in the post-COVID reality are those that have strong STEM workforces, that maintain and support universities that produce graduates to fill the jobs of the future, and that have the entrepreneurial environment to create those jobs,” said Kevin Klowden, report author and Executive Director of the Milken Institute Center for Regional Economics and the California Center.
Notable findings about the top three states: include:
- Massachusetts has maintained its top spot since 2002 due to its high levels of R&D funding, a booming biotech sector, a density of computer and information science experts, and a strong higher education system.
- Colorado moved to No 2 ahead of California due to its large STEM workforce and entrepreneurial infrastructure, while California’s strong venture capital sector, wealth of patents, and growing state appropriations for higher education kept it near the very top.
“Movement in the rankings, particularly for states in the lower tiers, highlights the impact policy choices can have on economic growth, such as whether policy makers and business executives focus on an integrated approach to funding innovative research and helping new technologies reach the market,” added Klowden.
The metrics comprising the Index for assessing knowledge economies include: “government research and development funding, entrepreneurial activity such as patents and venture capital investment, and the proportion of each state’s workforce in high-tech industries”.
Kevin Klowden, Aaron Melaas, Charlotte Kesteven, and Sam Hanigan are co-authors of the Index. The full rankings and report may be accessed here.
Using 105 metrics to determine the knowledge economies of each state, the Milken Institute released its ranking of states in the areas of science and technology. While Massachusetts was ranked No. 1, New Jersey was noted for its movement up six spots from No. 20 to No. 14, one of two states with the largest gains---New Mexico being the other.
New Jersey’s improvement was attributed to industry funding for research and development and its life sciences industry. Most notable was that 13 of the top 20 pharmaceutical companies maintain a presence in the state. New Jersey Governor Phil Murphy feels this not only reflects on New Jersey being a business friendly state, but one with distinct advantages for businesses to grow.
“New Jersey provides life sciences companies a large pool of top talent and a vast network of companies and universities engaged in novel research and development programs,” said Governor Murphy. “We welcome investors and companies alike to explore the array of financial and mentorship resources the state offers to help fuel their growth.”
The 2020 Milken Institute State Technology and Science Index is a biennial assessment of each state’s science and technology capabilities in terms of opportunities for job growth and wealth creation. No. 1 Massachusetts was followed by No. 2 Colorado and No. 3 California.
The Index over the past two decades has provided a template for state governments and business leaders to assess their economic growth efforts over the long-term. This year the Index introduced insight about the challenges faced by states and identified the states that will be able to best recover from the pandemic.
“The states positioned to grow in the post-COVID reality are those that have strong STEM workforces, that maintain and support universities that produce graduates to fill the jobs of the future, and that have the entrepreneurial environment to create those jobs,” said Kevin Klowden, report author and Executive Director of the Milken Institute Center for Regional Economics and the California Center.
Notable findings about the top three states: include:
- Massachusetts has maintained its top spot since 2002 due to its high levels of R&D funding, a booming biotech sector, a density of computer and information science experts, and a strong higher education system.
- Colorado moved to No 2 ahead of California due to its large STEM workforce and entrepreneurial infrastructure, while California’s strong venture capital sector, wealth of patents, and growing state appropriations for higher education kept it near the very top.
“Movement in the rankings, particularly for states in the lower tiers, highlights the impact policy choices can have on economic growth, such as whether policy makers and business executives focus on an integrated approach to funding innovative research and helping new technologies reach the market,” added Klowden.
The metrics comprising the Index for assessing knowledge economies include: “government research and development funding, entrepreneurial activity such as patents and venture capital investment, and the proportion of each state’s workforce in high-tech industries”.
Kevin Klowden, Aaron Melaas, Charlotte Kesteven, and Sam Hanigan are co-authors of the Index. The full rankings and report may be accessed here.
