Trenton, NJ - Late last year, the Milken Institute published their annual index on technology and science, placing New Jersey overall. The Garden State has consistently fallen in the rankings while the top three states (Massachusetts, Maryland, and California) improved their scores for the third straight index.
According to the report, "The importance of tech-based economic development is evident in 2014, as technology and science continue to develop a larger share of the U.S. economy while more traditional and lower-skilled sectors have been slower to regain their pre-recession levels... The impact of state budgetary instability and the consequent decline of investment in human capital have had a significant impact in many states. States that have continued to invest in innovation and education have emerged stronger from the recession."
While New Jersey scored above average in all five categories, there is still room for the state to grow:
» In the Research and development index, NJ placed 21st: This composite examines a state’s R&D capacity to determine if it has the facilities to attract funding and create innovations that can contribute to economic growth.
More recently, the Milken Institute published their 2014 "Best-Performing Cities" index featuring several metropolitan areas in and around New Jersey. It concluded that technology was the biggest factor behind America's booming cities. Tech titan San Francisco claimed the top spot, up two ranks from last year, while Trenton scored the highest of the New Jersey cities.
For the "State Technology and Science Index 2014" report: http://www.milkeninstitute.org/publications/view/675
For the "Best-Performing Cities" report: http://www.milkeninstitute.org/publications/view/682
While New Jersey scored above average in all five categories, there is still room for the state to grow:
» In the Research and development index, NJ placed 21st: This composite examines a state’s R&D capacity to determine if it has the facilities to attract funding and create innovations that can contribute to economic growth.
- In the Risk capital and entrepreneurial infrastructure index, NJ placed 7th: This measures a state’s ability to convert research into commercially viable products and services.
- In the Human capital investment index, NJ placed 21st: This focuses on how much each state invests in developing its workforce, which is crucial to success and viability in the tech-based economy.
- In the Technology and science workforce index, NJ placed 20th: Measuring the current strength of a state’s high-end technical talent, this composite is a key to a state’s ability to staff tech-based businesses.
- In the Technology concentration and dynamism index, NJ placed 14th : This evaluates the actual current impact of efforts by policymakers and other stakeholders in strengthening and growing the tech-based economy within the state.
More recently, the Milken Institute published their 2014 "Best-Performing Cities" index featuring several metropolitan areas in and around New Jersey. It concluded that technology was the biggest factor behind America's booming cities. Tech titan San Francisco claimed the top spot, up two ranks from last year, while Trenton scored the highest of the New Jersey cities.
For the "State Technology and Science Index 2014" report: http://www.milkeninstitute.org/publications/view/675
For the "Best-Performing Cities" report: http://www.milkeninstitute.org/publications/view/682