The 20 Best States For Innovation14 June, 2016 / Articles
According to new research from WalletHub, independent inventors in Utah produce more patents per capita than their counterparts in California. That and other factors make those states two of the 20 best in the nation for innovation.
As part of its survey of the best and worst U.S. state economies, WalletHub measured innovation potential in every state by aggregating seven equally weighted factors.
The personal finance site looked at elements like the percentage of jobs in high-tech industries, percentage of jobs held by scientists and engineers and venture-capital funding per capita. Entrepreneurial activity, the percentage of the adult population in the area the company studied that became entrepreneurs in one month, was also calculated for the list.
Massachusetts, which tops the innovation index, has the highest percentage of jobs in high-tech industries, according to WalletHub. The state also ranks second behind California in venture capital funding per capita.
Washington, which has the third-highest innovation potential overall, leads the pack in the percentage of jobs held by scientists and engineers. Maryland is second in that category, and ranks seventh overall.
New Mexico and Vermont are tied for the most entrepreneurial activity, although they ranked 15th and 19th in innovation potential.