WalletHub: Colorado ranks No. 5 for innovation

Thursday March 23, 2017 0 comments Tags: Colorado, WalletHub

 

COLORADO -- Colorado ranks No. 5 on a list of the ‘Most Innovative States’ compiled by the personal finance website WalletHub.

With President Donald Trump proposing the deepest budget cuts to federal research and development in history for FY 2018, WalletHub conducted an in-depth analysis of 2017’s Most & Least Innovative States.WalletHub_logoUSE

To give credit to the states that have contributed the most to America’s innovative success, WalletHub’s analysts compared all 50 states and the District of Columbia across 18 key metrics.

The data set ranges from share of STEM professionals to R&D spending per capita to average Internet speed.
 
Innovation in Colorado (1=Most Innovative, 25=Avg.):

  • 6th – Share of STEM Professionals
  • 6th – Projected STEM-Job Demand by 2020
  • 1st – Eighth-Grade Math & Science Performance
  • 9th – Share of Science & Engineering Graduates Aged 25+
  • 4th – Share of Technology Companies
  • 16th – R&D Spending per Capita
  • 27th – Avg. Internet Speed
  • 7th – Venture-Capital Funding per Capita

For the full report, visit:
https://wallethub.com/edu/most-innovative-states/31890/)

WalletHub said innovation is a principal driver of U.S. economic growth. In 2016, the U.S. spent an estimated $514 billion on research and development — more than any other country in the world — helping the nation rank No. 4 on the Global Innovation Index.

According to the results of the ranking, knowledge and technology outputs are America’s particular strengths.

But certain states are due more credit than others for America’s dominance in the tech era, WalletHub said. These states continue to foster innovation through investments in education, research and business creation, especially in highly specialized industries.

According to the report, the Top 5 states for innovation are:

  • 1—District of Columbia
  • 2—Maryland
  • 3—Massachusetts
  • 4—California
  • 5—Colorado

The bottom 5 least innovative states are:

  • 47—Oklahoma
  • 48—Kentucky
  • 49—Louisiana
  • 50—Mississippi
  • 51—West Virginia