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Founder, Kupperman Location Solutions
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CEO, Gray Construction

Kauffman Foundation: 2010 State New Economy Index

In the 2010 State New Economy Index, Massachusetts tops the list of states leading the push for a global, innovation-based economy.

Kauffman Foundation

11/18/2010

In its 2010 State New Economy Index, the Kauffman Foundation names Massachusetts, Washington, Maryland, New Jersey, and Connecticut the top states leading the push for a global, innovation-based economy.

"In this century, the global economy has shifted," said Robert Litan, vice president of Research & Policy at the Kauffman Foundation. "A mix of highly productive and innovative New Economy firms is necessary for an economy to prosper. The United States is lagging, and that lack of innovation-based vitality has contributed to our continuing recession. States need to concentrate on achieving New Economy success factors and providing the entrepreneurial resources and access that are critical to boosting competitiveness within the global marketplace."

The survey favors states with an abundance of high-tech companies, as well as a high concentration of professionals and college-educated persons employed in "knowledge jobs," or positions that require at least a two-year college degree.

States that lag tend to rely on natural resources or manufacturing, and rely on low costs instead of innovation. But these states can still find opportunity in the innovation market through advanced ICT and high-speed broadband to connect in remote locations.