This is good news for Utah!
Massachusetts, Delaware, California, Washington, and Maryland are the best states for the “new economy,” according to a study by the Information Technology and Innovation Foundation (ITIF), a nonprofit think tank. Mississippi, West Virginia, Oklahoma, Arkansas and Louisiana are the worst. The new economy is, by ITIF’s definition, “marked by globalization, technological innovation and entrepreneurial development.” ITIF determined states’ success by using 25 indicators in five categories. These categories were knowledge jobs, globalization, economic dynamism, the digital economy, and innovation capacity.
The study begins with a quote from Darwin, “It is not the strongest of the species that survive, nor the most intelligent, but the ones most responsive to change.” Offering suggestions for how low-scoring states can boost their New Economy performance, the study challenges them to invest in high-quality education systems, to foster an environment where startups can flourish, where businesses have access to the latest technology, where high-skilled workers will want to be, and with a tax code that allows for innovation. The study also includes a review of innovative policies that have worked in other nations that could serve as templates for states to use.
Scroll through the chart below to see how each state ranked and to get an idea of each state’s strengths. The strengths were selected based on how the state scored in each category relative to its own scores in other categories, and on its national ranking in each indicator category. For the raw data this chart was pulled from, see pages 11 to 15 of the report.
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