WalletHub, a personal finance website, released a report on the most innovative states in the U.S., providing a type of economic outlook for the various areas in the months and years ahead.
The researchers, composed of three educational institution leaders, compiled the list by using 18 different key metrics, including research and development (R&D) spending per capita, average internet speed, and highest proportion of STEM (science, technology, engineering, and mathematics) professionals.
What they found is that the most innovative state isn’t officially a state at all, as District of Columbia ranks the highest, with Maryland, Massachusetts, California, and Colorado following in succession.
As for the least innovative states, West Virginia is rated the lowest, and Mississippi, Louisiana, Kentucky, and Oklahoma are respectively graded the worst in that order.
Here is the complete list:
- District of Columbia
- New Hampshire
- New Jersey
- New York
- New Mexico
- North Carolina
- Rhode Island
- South Carolina
- South Dakota
- North Dakota
- West Virginia
Other factors that went into the algorithm were share of technology companies, in which Virginia ranked highest with 7.52 percent, 3.9 times higher than its neighbor West Virginia’s 1.95 percent rate, and “tax-friendliness.”
Wyoming, South Dakota, Alaska, Florida, and Nevada are graded as having the best tax system, according to the Tax Foundation, which WalletHub cites. New Jersey, New York, California, Vermont, and Minnesota, in that order, rank as the “most complex, non-neutral” and business inhibitive tax systems.
“Drone-Friendly Laws” were also part of the larger grading method. (RELATED: Drone Delivery: Amazon Chose UK Over US Because Of Fewer Regulations)
But living in a state with relatively bleak innovation numbers doesn’t mean the state is completely void of an advanced economic infrastructure. As a country, the U.S. ranks fourth in the world on the Global Innovation Index.
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