How Does Your State Rank on the Innovation Scale?
Innovation Is Key
Innovation is crucial to sustainable economic growth, but for innovation to occur businesses must have both the incentive and the capacity to invest.
As innovation is key to the United States’ economy as a whole, many U.S. states are showing off while others are falling short when it comes to patents, R&D, venture capital and academics.
So which states are excelling in innovation and which ones are lacking, you ask?
The top states in patents per population include:
The bottom five patented states include:
- West Virginia
The top states for venture capital are:
The lowest are:
- South Dakota
The leaders in R&D spending are:
The states that spent the least on R&D include:
As for academics, the top states include:
- New Mexico
- Rhode Island
The lowest academic rankings were for:
If you are a U.S. based company conducting R&D you may be eligible for the federal and/or state research tax credit. Please contact a Swanson Reed representative to find out further information.