Massachusetts named the most innovative US state for 2018
Massachusetts has been the most innovative state in WalletHub’s latest report, 2018’s Most & Least Innovative States.
The report uses 22 key metrics including Research and development (R&D) spending per capita, the projects STEM job demand by 2020 and each state’s share of technology companies to rank the states, with Maryland and Washington rounding off the top three.
Each metric was graded on a 100-point scale, with Massachusetts being the only state with a score about 70 at 73.04, whilst Mississippi was named the least innovative state with a score of just 19.32.
Massachusetts’ advancements in innovation has also had a positive impact on its business operations, with the state having risen 10 places from 20th to 10th on CNBC’s top states for business in 2017 ranking.
The US is ranked fourth on the Global Innovation Index due to its forecast R&D spending set to reach an estimated $553bn, accounting for 25% of the world’s total spending in this area.
Placing fourth, the US is behind Switzerland, Sweden, and the Netherlands who make up the top three spots of the Global Innovation Index, whilst the UK rounds off the top five.